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Stoneridge, Inc. Announces Board of Director Changes

Stoneridge, Inc. (NYSE: SRI) has recently revealed notable changes concerning its Board of Directors. As part of the enhancements, veteran board members George S. Mayes, Jr. and Paul J. Schlather will retire from their roles, a decision driven by personal reasons. Both members have chosen not to pursue re-election in the upcoming 2025 slate of directors, which will reduce the board’s total membership to seven.

George S. Mayes, Jr. has been a vital member of Stoneridge's Board since 2012 and has held the position of Chairman of the Compliance and Ethics Committee. His extensive experience within the company and dedication have played a crucial role in shaping the firm's compliance policies and ethical practices. On the other hand, Paul J. Schlather joined the board in 2009, contributing his vast knowledge in financial oversight and corporate governance, enhancing the firm's strategic direction in management and operations.

William M. Lasky, Chairman of the Board, expressed heartfelt appreciation for the years of dedicated service provided by both Mayes and Schlather. In his statement, he reflected, "We are deeply grateful for George and Paul's years of dedicated service. Their leadership, insight, and guidance have been instrumental in shaping Stoneridge's success. On behalf of the entire Company, we thank them for their invaluable contributions and wish them the best in their future endeavors."

The decision not to fill the vacancies left by Mayes and Schlather indicates a strategic move for Stoneridge, pointing towards a streamlined board structure, which could facilitate more efficient decision-making processes moving forward.

Based in Novi, Michigan, Stoneridge, Inc. specializes in engineering and manufacturing advanced electrical and electronic systems as well as components and modules designed specifically for the automotive sector and commercial vehicle markets, including off-highway and agricultural vehicles. The company's commitment to innovation and quality has positioned it as a leader in its industry, with ongoing advancements and a sustained focus on the future.

As Stoneridge navigates these changes ahead of the 2025 elections, stakeholders and industry observers will be keenly watching how the company adapts its governance structure and leverages fresh opportunities arising from this transition. The retirement of longstanding board members marks a new chapter for Stoneridge and raises questions about future strategies and leadership dynamics.

The Board of Directors is pivotal for any corporation, as it guides crucial decisions and develops best practices for ensuring that a company operates efficiently and achieves its long-term goals.

For more information about Stoneridge and its products, visit www.stoneridge.com.