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Cooper Standard Falls, Despite CIO Honored with ORBIE

Cooper Standard's (NYSE: CPS) Soma Venkat, Ph.D., senior vice president and CIO, has been honored with a 2023 Michigan ORBIE® Award. MichiganCIO recognized technology executives in eight ORBIE Award categories – Leadership, Super Global, Global, Large Enterprise, Enterprise, Large Corporate, Corporate, and Nonprofit/Public Sector. The awards were presented at the Michigan ORBIE Awards at The Henry in Dearborn, Michigan.

Venkat was recognized in the Global ORBIE Award category for organizations over $2 billion annual revenue and multi-national operations for his work at Cooper Standard. As CIO, Venkat is responsible for shaping and executing the Company's IT strategy on a global scale. In this leadership position, Venkat oversees and directs all aspects of the organization's information technology initiatives, ensuring alignment with business objectives, driving digital transformation, and ensuring the technological infrastructure supports the Company's strategic objectives for operational excellence and innovation.

"On behalf of Cooper Standard, I'm delighted to congratulate Soma on this notable honor," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "His breadth of technical experience and outstanding leadership typify our Company's commitment to excellence, particularly through protecting the confidentiality, integrity and availability of our systems, data and digital assets."

The ORBIE Awards is the premier technology executive recognition program in the United States. Since its inception in 1998, over 700 technology leaders have received the prestigious ORBIE Award.

Even so, CPS shares sank 41 cents, or 2.2%, early Monday to $18.27.