Management ChangeJul 2, 2026, 01:51 PM
Motorcar Parts Extends CEO Selwyn Joffe's Contract to 2029
AI Summary
Motorcar Parts of America, Inc. announced that it has extended the employment agreement for its Chairman, President, and CEO, Selwyn Joffe. The Amendment No. 7 extends his term from July 1, 2027, to July 1, 2029. Additionally, Mr. Joffe's annual salary was increased from $828,256 to $902,799, effective June 26, 2026, with a further increase to $984,050 effective April 1, 2027.
Key Highlights
- CEO Selwyn Joffe's employment agreement with Motorcar Parts of America was extended.
- The term of the Employment Agreement was extended from July 1, 2027, to July 1, 2029.
- His annual salary increased from $828,256 to $902,799, effective June 26, 2026.
- A further annual salary increase to $984,050 will be effective April 1, 2027.
- The Amendment No. 7 was approved by the Human Resources and Compensation Committee and Board of Directors.
Price Impact
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