– USA, CA – Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced the nomination of Anil Shrivastava to stand for election to the Board of Directors at the AGM on September 5, 2024.
“I am excited to welcome Anil to MPA,” said Chairman and CEO Selwyn Joffe. “325 Capital has been one of MPA’s largest shareholders for several years. During that time, the board and I have had numerous opportunities to engage with Anil and have been impressed by his knowledge of the company’s business and his commitment to working with us as a collaborative partner. We appreciate the constructive dialogue we have had with Anil over the years, including his valuable insights and feedback regarding MPA’s strategy, board composition and other topics, and we look forward to working with him to drive sustainable value for all shareholders.”
Rudolph Borneo and Jamy Rankin have informed the company that they will be retiring from the board at the 2024 AGM.
About Anil Shrivastava
Anil Shrivastava is an accomplished investor. He currently serves as managing partner of 325 Capital, one of MPA’s largest shareholders, where he uses data-driven, analytical insights to engage with management teams and boards, working to help develop a blueprint for long-term value creation. He has more than three decades of experience investing in public and private companies on behalf of leading investment firms, including Bain & Co., Sagard Capital, and Vestar Capital Partners.
Anil Shrivastava said, “We are enthusiastic owners of MPA and believe it can create significant value for all its shareholders. I appreciate the constructive nature of my dialogue with Selwyn and the board and look forward to contributing from inside the boardroom.”
About Anil Shrivastava
Anil Shrivastava is an experienced small- and micro-cap company investor. He currently serves as founder and managing partner of 325 Capital, an investment management company, a role he has held since 2020.
Before 325 Capital, Anil Shrivastava was a Partner at Sagard Capital, where he focused on blueprint development, management relationships, and team development, from 2012 to 2018. Previously, he served as a managing director in the Healthcare group at Vestar Capital, a private equity firm, from 2007 to 2023.
Earlier in his career, Anil Shrivastava spent 15 years at Bain & Company, where he was a partner in the Private Equity and Healthcare Practices and supported clients in the Boston, Sydney, London, and New York offices. He is currently a Trustee at the New York Hall of Science.
Anil Shrivastava graduated with honors in Economics from Harvard College and earned an MBA at Harvard Business School.
About Motorcar Parts of America
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts — including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China, and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems.
For more: https://motorcarparts.com/
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