Richard N. Berman was the Chairman and CEO of Dorman Products, a company focused on the automotive parts industry. Sadly, he passed away on January 29, 2011, just a couple of days before his tenure was formally noted in the...
Richard N. Berman was the Chairman and CEO of Dorman Products, a company focused on the automotive parts industry. Sadly, he passed away on January 29, 2011, just a couple of days before his tenure was formally noted in the company's records. His compensation in 2011 was based largely on a continuation of benefits following his death, amounting to $724,248, which included a salary continuation and other benefits. It's noteworthy that Richard was actively involved with Dorman since its early days, guiding the company through various challenges. He also held significant stock ownership, with over 2.5 million shares, indicating a strong personal investment in the company’s success. Richard’s passing marked a transition for the company, leading to his brother, Steven L. Berman, stepping in as the new CEO shortly after. Dorman Products has a focus on innovation and growth, and under Richard's leadership, it aimed to provide high-quality products to its customers, gaining a reputation in the aftermarket parts segment.