Methode Electronics’ Board of Directors Names New Chairman of the Board

CHICAGO, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that as part of a planned transition resulting from the retirement of the former Chairman of the Board, Walter Aspatore, the company's Board of Directors has appointed Mark Schwabero as the new chairman of the board.

Mr. Schwabero was previously appointed Methode’s Vice Chairman of the Board in May 2024 and has been a director at the company since 2019. He was formerly Chairman, Chief Executive Officer and Director of Brunswick Corporation, a recreational marine products company, from 2016 to 2018.

Mr. Schwabero commented, "I am privileged to have the opportunity to serve Methode as chairman. Speaking on behalf of Methode, we thank Walter for his 16 years of service to the company and wish him all the best in his retirement."

About Mark Schwabero

Mark Schwabero has served as Vice Chairman of the Board since May 2024. Mr. Schwabero previously served as Chairman, Chief Executive Officer and director of Brunswick Corporation, a recreational marine products company, from 2016 until his retirement in 2018. Prior thereto, Mr. Schwabero served as President and Chief Operating Officer of Brunswick from 2014 to 2016 and as President of its Mercury Marine subsidiary from 2008 to 2014. Mr. Schwabero serves as a director of 1st Source Corporation, parent company of 1st Source Bank. In addition, Mr. Schwabero serves on the Advisory Board of The Ohio State University Center for Automotive Research.

About Methode Electronics, Inc.

Methode Electronics, Inc. (NYSE: MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products for OEMs utilizing our broad range of technologies for user interface, LED lighting system, power distribution and sensor applications.

Our solutions are found in the end markets of transportation (including automotive, commercial vehicle, e-bike, aerospace, bus, and rail), cloud computing infrastructure, construction equipment, and consumer appliance. Our business is managed on a segment basis, with those segments being Automotive, Industrial, and Interface.

For Methode Electronics, Inc.

Robert K. Cherry

Vice President Investor Relations



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