Standard Motor Products To Buy Back Up To $20 Mln Of Stock

(RTTNews) - Standard Motor Products Inc. (SMP) announced that its board of Directors has authorized the purchase of up to $20 million of its common stock under a stock repurchase program.

Standard Motor also announced that Patrick McClymont has been appointed as an independent director to the Company's Board of Directors. McClymont will serve as a member of the Audit Committee, Compensation and Management Development Committee, Nominating and Corporate Governance Committee, and Strategic Planning Committee.

In connection with the addition of Mr. McClymont, the Board increased the size of the Board from ten to eleven directors.