Dorman Products Inc. (NASDAQ: DORM) appointed Kevin Olsen, the company's president and chief executive officer, as chairman of the board, according to a company statement.

Olsen has served as CEO and president since 2019 and joined the board of directors the same year. He became Dorman's chief financial officer in 2016 and was promoted to president and chief operating officer in 2018.

Steven Berman, who served as chairman since 2011, will remain on the board of directors. Berman has been a board member since 1978.

"This planned succession comes at a time of strength for the Company, allowing for a thoughtful and well‑coordinated transition," said Richard Riley, Dorman's independent lead director.

The Colmar, Pennsylvania-based company supplies aftermarket products for motor vehicles. Dorman has operated for over 100 years and offers replacement parts for cars, trucks and specialty vehicles.

The board's decision combines the chairman and CEO roles under Olsen's leadership. Riley stated the change provides "unified leadership and direction for the Company" and utilizes Olsen's operational and strategic experience.