By SEMA News Editors
PRW Power Adds Cary Redman as Chief Revenue Officer
PRW Power, a provider of affordable aftermarket and performance engine products, has announced the appointment of Cary Redman as its new chief revenue officer (CRO).
Redman brings more than two decades of experience in leading performance organizations, with a strong track record in established performance manufacturing companies. As CRO, he will oversee all aspects of PRW's revenue generation, including sales, customer success, revenue operations and partnerships.
"We are thrilled to welcome Cary to the team," said Steve Whipple, CEO of PRW Power. "He has a blend of automotive performance experience, passion and growth experience even in challenged organizations. Cary's deep expertise and leadership will be invaluable as we continue to scale and deliver exceptional value to our customers."
Prior to joining PRW Power, Redman spent time with some of the most iconic performance brands in the aftermarket, including Holley, Edelbrock, MagnaFlow, Mr. Gasket Companies, and most recently, Race Winning Brands.
For more information, visit prw-usa.com.
Hoonigan Announces Strategic Transaction
Wheel Pros, LLC and its North American-based affiliates, including Hoonigan, have announced that it has begun an in-court financial restructuring process to position it to drive long-term growth. The company has entered into a Restructuring Support Agreement ("RSA") with a majority of its debtholders through which it expects to eliminate approximately $1.2 billion of the company's debt and secure up to approximately $570 million of new capital, substantially improving the company's balance sheet and financial position, according to a release.
"Today's announcement marks an important step forward for Hoonigan that will enable us to advance our industry-leading position in the growing automotive aftermarket sector," said Vance Johnston, CEO of Hoonigan. "With a significantly strengthened balance sheet and new capital, this transaction will position us to invest in innovation and further drive financial performance. With the strong support of our financial partners, we remain laser-focused on providing cutting-edge products and best-in-class service to our partners throughout this process."
For more information, visit the Hoonigan announcement here.
Turn 14 Distribution Launches Virtual Inventory Program
Turn 14 Distribution, the Horsham, Pennsylvania-based parts distributor, has launched a new program for dealers, the Virtual Inventory Program.
The program allows dealers to store purchased products across Turn 14 Distribution's network of distribution centers. Items in a dealer's virtual inventory are allocated and accessible to the dealer only, the company said, and can ship on demand using Turn 14 Distribution's logistics network.
According to the company, the program aims to empower dealers to make strategic investments into products most relevant to their businesses without the costs and limitations of traditional warehousing.
For more information, visit turn14.com.
Longtime AACF Trustee, Recipient Review Committee Chairman Chuck McCourt Retires
Chuck McCourt, a longtime trustee and recipient review committee chairman for the Automotive Aftermarket Charitable Foundation (AACF), has retired after more than 50 years in the automotive aftermarket industry.
McCourt, president of McCourt Marketing Group, has contributed to the AACF through his leadership on the organization's board and executive committee.
David Young, vice president and general manager, North America DIFM of Valvoline Global Operations, will succeed McCourt as chair of the recipient review committee. Additionally, board trustee Marc Blackman, CEO of Gold Eagle Co., will be joining the executive committee.
"We are deeply grateful to Chuck for his time and support, particularly his tireless dedication to leading the Recipient Review Committee and his many years of sponsorship at our annual charity golf tournament," said Jon Owens, President of AACF. "His legacy of commitment and service will continue to inspire us all."
For more information, visit aftermarketcharity.org.
MAVTV International Motor Film Awards Announces Nominees
The MAVTV International Motor Film Awards, a showcase event for the automotive film and television industry, has announced the nominees for its 2024 awards.
Set for October 4 at Alexandra Palace in London, England, the event will celebrate and recognize the industry's biggest stunts, best car commercials, top documentaries and short films and more.
This year, Best Drama Feature category nominees include Michael Mann's Ferrari, Mad Max: Furiosa, Mission: Impossible – Dead Reckoning and The Fall Guy.
The commercial category features top commercials from Porsche, Chevrolet, Kia, Aston Martin, Acura, Rivian, Akrapovič, Hyundai, Zenvo and CFMoto, while the documentary categories offer an insider's view of racing culture worldwide. Notable documentary nominations include coverage of F1, the Pikes Peak Hill Climb, the GT4 Series, 24 Hours of Le Mans, the Indianapolis 500, the Tour de France Automobile and more.
For more information, visit motorfilmawards.com.
As the 2024 election season approaches, we would like to extend a special invitation to you for an exclusive Election Watch Party and Reception at this year's SEMA Show. This event is hosted by the SEMA and PRI PAC (Political Action Committee), a critical initiative dedicated to supporting lawmakers who champion the automotive aftermarket and motorsports industries.