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TOWR > SEC Filings for TOWR > Form 8-K on 11-Mar-2014All Recent SEC Filings

Show all filings for TOWER INTERNATIONAL, INC.



Change in Directors or Principal Officers, Financial Statements and Exh

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On March 6, 2014, the Board of Directors of Tower International, Inc. (the "Company") elected Thomas "Tony" K. Brown to the Company's Board of Directors, effective April 1, 2014. Mr. Brown was Group Vice President, Global Purchasing, of Ford Motor Company until his retirement in August 2013. Mr. Brown joined the Board of Directors to fill the vacancy of a Class II director. Accordingly, his term will expire at the Company's 2015 annual meeting of shareholders.

The Board of Directors has determined that Mr. Brown is an independent director under the New York Stock Exchange listing standards. The Board has appointed Mr. Brown to its Compensation Committee and its Nominating and Corporate Governance Committee, effective April 1, 2014.

In connection with Mr. Brown's election to the Board, he will receive restricted stock units covering shares of the Company's Common Stock worth $100,000 on the planned April 1, 2014 grant date. The units will be granted pursuant to the Company's 2010 Equity Incentive Plan. In addition, Mr. Brown will receive an annual cash retainer of $100,000 for his services as a director of the Company.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 99.1 Press release, dated March 11, 2014, of Tower International, Inc.


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