Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b), (c) Effective November 30, 2018, Superior Industries International, Inc. (the “Company”) appointed Michael Hatzfeld Jr. as its Vice President of Finance and Corporate Controller. Mr. Hatzfeld Jr., 46, has held various positions with General Motors Company since 2011, most recently as Controller, US Sales and Marketing Unit in 2018, Controller, Global Revenue Recognition Project from 2016 to 2017, Controller, Customer Care and Aftersales Units from 2014 to 2016 and Assistant Director, Corporate Reporting and Analysis from 2013 to 2014. Mr. Hatzfeld Jr. began his career in public accounting at Ernst & Young LLP from 1994 through 2011. Mr. Hatzfeld Jr. holds a Bachelor of Science degree from Duquesne University. Mr. Hatzfeld Jr. is also a Certified Public Accountant.
There are no family relationships between Mr. Hatzfeld Jr. and any of the directors and executive officers of the Company, nor are there transactions in which Mr. Hatzfeld Jr. has an interest requiring disclosure under Item 404(a) ofRegulation S-K.
Mr. Hatzfeld Jr. will receive an annual base salary of $230,000. Mr. Hatzfeld Jr. may receive annual bonuses based on attainment of performance goals in the amount of 30% of annual base salary. For 2018, any annual bonus will bepro-rated. Mr. Hatzfeld Jr. also will be eligible to participate in the Company’s 2019 Long Term Incentive Plan, as administered by the Company’s Compensation and Benefits Committee, upon approval of the Compensation and Benefits Committee and Board of Directors, up to 30% of his base salary. Mr. Hatzfeld Jr. is entitled to participate in all benefit plans generally made available to employees of the Company.
Effective November 30, 2018, Scot Bowie will no longer serve in his position of Vice President and Corporate Controller of the Company.