U.S. Auto Parts Appoints Mehran Nia to Board of Directors
- Co-Founder and Previous CEO Brings Invaluable E-Commerce Expertise to Board -
CARSON, Calif., June 11, 2018 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (NASDAQ: PRTS), one of the largest online providers of aftermarket automotive parts and accessories, has appointed Mehran Nia to its board of directors, effective May 31, 2018. His appointment expands the board to eight members and fills an open vacancy.
As one of the original co-founders, Nia returns to U.S. Auto Parts where he previously served as CEO, president and director from 1995 until 2007. During the first five years of his tenure, Nia helped lead the transformation of the company from a regional wholesaler of collision auto parts into an e-commerce retailer and wholesaler with a diversified base of automotive products.
"Mehran brings extensive e-commerce expertise and broad leadership experience to our board," said Aaron Coleman, CEO of U.S. Auto Parts. "His founding role and prior service as president and CEO will provide invaluable insight to our company as we continue to deploy web development initiatives across our core e-commerce sites and expand our relationships with marketplace partners."
Nia currently serves on the board of directors for Mylife.com, an e-commerce company helping people connect with others and manage information. He also serves on the advisory board for ARC China, a private equity investment firm specializing in pre-IPO investments. He received his Bachelor of Arts degree in biology from San Diego State University.
Nia commented: "U.S. Auto Parts has built a strong e-commerce platform that has significant opportunity for long-term growth. I plan to leverage my prior experience to provide strategic input to the company as we continue to enhance the customer experience across our core e-commerce sites and expand our marketplace channels."
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites include www.autopartswarehouse.com, www.carparts.com, and www.jcwhitney.com, as well as the Company's corporate website at www.usautoparts.net.
U.S. Auto Parts is headquartered in Carson, California.
Safe Harbor Statement
This press release contains statements which are based on management's current expectations, estimates and projections about the Company's business and its industry, as well as certain assumptions made by the Company. These statements are forward looking statements for the purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended and Section 27A of the Securities Act of 1933, as amended. Words such as "anticipates," "could," "expects," "intends," "plans," "potential," "believes," "predicts," "projects," "seeks," "estimates," "may," "will," "would," "will likely continue" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, the Company's expectations regarding its future operating results and financial condition, impact of changes in our key operating metrics, our potential growth and our liquidity requirements, and the Company's expectations regarding the customs litigation and related trademark issues. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, competitive pressures, our dependence on search engines to attract customers, demand for the Company's products, the online market and channel mix for aftermarket auto parts, the economy in general, increases in commodity and component pricing that would increase the Company's product costs, the operating restrictions in our credit agreement, the weather, the impact of the customs issues and any other factors discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Risk Factors contained in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.usautoparts.net and the SEC's website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements in this release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. Unless otherwise required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as result of new information, future events or otherwise.
Neil T. Watanabe, Chief Financial Officer
U.S. Auto Parts Network, Inc.
(424) 702-1455 x127
Sean Mansouri or Cody Slach
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SOURCE U.S. Auto Parts Network, Inc.
Released June 11, 2018