WARREN, Ohio (AFX) - Stoneridge Inc. said Monday its chairman and founder, David Max Draime, died Sunday at the age of 73.
Stoneridge makes electronic components and systems for cars, trucks, agricultural and other equipment. Draime established the company in 1965 to produce wiring harnesses, mainly for the agricultural equipment industry.
William M. Lasky, chairman, president and chief executive of JLG Industries Inc. and the lead director of the company, will assume the role of interim, non-executive chairman, Stoneridge said.
The company said Draime's family will retain his Stoneridge shares, and the family will remain the largest shareholder of the company.
Shares of Stoneridge added 11 cents to close at $8.36 on the New York Stock Exchange.
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