Titan International’s Maurice Taylor stepping down as CEO; Paul Reitz named his successor
Paul Reitz has been promoted to chief executive officer of Titan International, Inc. The company president will assume this additional role on 1 January 2017.
Announcing Reitz’s promotion, Maurice Taylor, chairman of Titan International’s Board of Directors, stated: “This has been a six-year process. Six years ago we hired a search firm to find a Wheel president, a Tire president and a chief financial officer. When it was time to select the president of Titan, after approximately four years, the Board decided that they could once again retain a search firm or choose one of these three candidates. They determined the right candidate was Paul Reitz, who was made president two years ago and has now earned the right to become both chief executive officer and president. Paul has demonstrated that he is not only intelligent but he knows how to build and lead a strong team.
Reitz, who is 44 years old, joined the company in July 2010 as chief financial officer and was promoted to president in February 2014. His new employment agreement with Titan International takes effect 22 December 2016 and is valid for a year, automatically renewable for successive one-year periods until further notice is given. Reitz will be entitled to receive a base annual of US$900,000 and an annual bonus or incentive compensation based upon the performance standards established by Titan’s Board of Directors
Maurice M. Taylor, Jr., who has been an integral part of Titan since its inception more than 33 years ago, will continue to serve as chairman of Titan’s Board of Directors “I look forward to advising him on various engineering products and helping out with new wheel operations in Russia and Brazil,” he commented. “I will continue visiting our customers and promoting the benefits of our LSW products, along with making an appearance at a few investor conferences.”