- Group 1 Acquires 27 of 30 Prime Automotive Group Dealerships
- Aston Hires Mercedes’ Adam Chamberlain to Lead Americas Region
- Toyota President Akio Toyoda Tapped for Rare Third Term to Helm Japan’s Industry Group
- New Nexus Roles Focus On Customer Experience, Sustainability
- Scott Tucker Named To Uni-Select Canada’s Management Team
- ASA Announces Staff Promotion, Names VP Of Regional Services
- Katherine Harper Joining Modine Manufacturing Board
- LSI Names James Palasota Chief Operating Officer
- Fullbay Names New CEO And Executive Chairman
- Infineon Names COO Jochen Hanebeck as Next CEO
- Jaguar Land Rover’s Engineering Boss to Leave Automaker
- Aston Martin CFO to Leave for Personal Reasons
- Ford Executive Hired by Wells Fargo for Investment Banking Post
- Elaine Chao Joins ChargePoint Board of Directors
- Valvoline Announces Board Member Search
- Dana Names New Chief Financial Officer
- Edward ‘Ted’ McCormick Joins Truck Hero As CFO
- Lightning eMotors Appoints Marci Fouts As Chief People Officer
- Associated Equipment Announces VP Retirement
- McLaren Names Nicolas Brown President of Americas
- Mark Finestone To Retire From AutoZone
- Intel to Take Mobileye Unit Public in 2022 IPO
- Marelli China Names David Fan EVP And President
- Herbert Diess Stays On to Steer VW into Electric Future
- Renee Cacchillo Named President, CEO of Safelite Group
- Ford Adds Deere & Co. CEO John May to Board; Chief Government Affairs Officer to Retire
- GM Innovation Chief Pamela Fletcher Leaving for Delta
- Alliance Names Ford’s Kumar Galhotra as 2022 Board Chair
- Cars.com Promotes Doug Miller to President
- Cooper Standard Announces Global Leadership Changes
- Standard Motor Products Appoints New Director
- Faurecia Names New EVP For North American Region
- Mevotech Promotes Assaf Bar-Menachem to VP Product Management
- PPG Appoints Brian Williams As Vice President And Controller
- VinFast CEO Lohscheller Steps Down from Post
- GM Bids Farewell to Dan Ammann
- Dent Wizard Promotes Addison Thomas To President And COO
- O’Reilly Automotive Appoints Fred Whitfield to Board
- Victor Wise Joins Total Seal As Director Of Quality
- Göran Nyberg to Lead Commercial Operations at Navistar
- Brian Reese Joins Kian Capital-Backed T Sportline as CEO
Group 1 acquires 27 of 30 Prime Automotive Group dealerships
Group 1 Automotive Inc. has completed the purchase of 27 dealerships from Prime Automotive Group — about a week ahead of its planned date to close on the mega transaction it announced in September that was expected to cost $880 million. Group 1, of Houston, said the closing to date included “substantially all the assets,” including 27 of 30 dealerships originally announced in the deal, real estate and three collision centers. “We are pleased to add these great brands and new teammates to our company,” Group 1 CEO Earl Hesterberg said in a statement. “This action will further leverage our cost structure, diversify our footprint, and broaden our customer base.” At least one store won’t be sold to Group 1. Industry experts say it’s possible Group 1 ran into issues with manufacturer framework agreements that limit how many stores auto retailers can operate of the same brand and in certain regions. Prime is under contract to sell its Toyota Route 2 dealership in Lancaster, Mass., to dealer Kurt Koch in the next few weeks, according to a source familiar with the plans. Koch owns several dealerships. It wasn’t immediately clear what was happening with the other two dealerships that were part of the original deal. Most of Prime’s executive management team, including CEO Todd Skelton and COO Pete Lebish, won’t be staying with Group 1, the same source told Automotive News. The Group 1 acquisition gives the nation’s fourth-largest new-vehicle retailer more scale in the Northeast. It also will serve as a platform to help it grow its digital retailing platform AcceleRide. Group 1 now has 217 dealerships in the U.S., United Kingdom and Brazil. Last week, it said it would sell its dealerships in Brazil by mid 2022. The company said it has now completed acquisitions this year that will add $2.4 billion in annual revenue. The transaction also closes a chapter for Prime Automotive, of Westwood, Mass. The group over the past several years had grown to one of the largest privately owned dealership groups in the country. But its majority owner, GPB Capital Holdings, an alternative asset management firm, has been accused of operating a Ponzi-like scheme by the U.S. Securities and Exchange Commission and faces numerous lawsuits and state inquires. GPB’s former CEO David Gentile and two associates were indicted in February on charges of conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud. Gentile also was charged with wire fraud. A federal monitor was appointed to oversee GPB Capital and Prime dealership operations as part of the SEC case, filed in February. Most dealerships involved in the sale are part of the GPB Automotive Portfolio, a limited partnership made up of thousands of investors who raised $682.9 million. GPB used the funds to buy dealerships. Investors were promised 8 percent annual returns, but distributions stopped in late 2018. “This transaction delivers significant value for GPB Capital’s investors and gives Group 1 access to 1,800 dedicated employees and more than two dozen of the best dealerships in the Northeast,” GPB Capital CEO Rob Chmiel said in a statement. “We are actively working with our independent monitor on a plan to distribute the available proceeds from the transaction to GPB Capital’s partnership investors.” The Group 1-Prime transaction is the second megadeal of the year to close. In April, Lithia Motors Inc. bought Michigan’s Suburban Collection, including 34 dealerships and 56 franchises. Other megadeals involving the public auto retailers are slated to close this year: Sonic Automotive Inc.’s $700 million purchase of RFJ Auto Partners Holdings Inc., including 33 franchised and used-vehicle dealerships in seven states, and Asbury Automotive Group Inc.’s purchase of Larry H. Miller Dealerships, the nation’s eighth-largest new-vehicle retailer, for $3.2 billion. Prime ranks No. 18 on Automotive News’ list of the top 150 dealership groups based in the U.S., retailing 31,529 new vehicles in 2020. It generated more than $2.6 billion in revenue last year. Group 1 ranks No. 4 on the list, retailing 140,221 new vehicles in 2020 and generating revenue of more than $10 billion. Source: Automotive News
Aston hires Mercedes’ Adam Chamberlain to lead Americas region
Aston Martin has appointed Mercedes-Benz veteran Adam Chamberlain to lead its North American operations effective immediately, filling Laura Schwab’s former position at the British automaker. Chamberlain, 47, was vice president of sales and product management at Mercedes-Benz USA, a job he held since 2016. During his time in that position, he was named an Automotive News Rising Star in 2017. Before joining Mercedes’ U.K. division as sales director of passenger cars in 2013, he held positions at Volkswagen Group in the U.K. and Ireland beginning in 2006, then had a two-month stint as sales director at Fiat Group Autos U.K. in early 2013. “Adam is a strong leader with a deep understanding of the industry and a proven track record in the important American luxury sports car market,” Aston Martin CEO Tobias Moers said in a statement. After Schwab’s resignation late last year, sales division head Ed Moran was named the region’s interim leader. The Americas market is Aston Martin’s largest. About a third of the company’s vehicles are sold through 35 U.S. dealers, five in Canada and in several locations in South America. Thanks mostly to the DBX high-performance SUV, Aston Martin is on track to reverse years of losses. In an August interview with CNBC, Executive Chairman Lawrence Stroll, the Canadian billionaire whose investment gives him a 25 percent ownership stake, said: “The risks are behind us. We have tremendous growth in front of us and a Formula 1 team to market it.” Source: Automotive News
Toyota President Akio Toyoda tapped for rare third term to helm Japan’s industry group
Toyota Motor Corp. President Akio Toyoda has been appointed to serve a rare third term as chair of Japan’s automobile industry association, in a move to provide continuity and senior leadership as the country’s carmakers grapple with the shift to carbon neutrality. Toyoda, who took the wheel of the Japan Automobile Manufacturers Association in 2018, will assume a third two-year term from May 2022, the organization announced Nov. 18. During his tenure, Toyoda, 65, has been a vocal advocate for preserving a strong domestic base for Japan’s auto industry. He also made heroic efforts to revive the flagging Tokyo Motor Show in 2019, the last time it was held before the pandemic put the exhibition on hiatus until 2023. The scion to Toyota Motor’s founding family has emerged as a kind of elder industry statesman, championing a range of causes from decarbonization and job preservation to the fun of driving. Toyoda has been at the helm of Toyota Motor since 2009 — longer than nearly every other currently serving automaker CEO. The chairmanship of JAMA usually rotates every two years between Toyota, Honda and Nissan. But with relatively new CEOs at both Nissan and Honda, the veteran Toyota chief said he was asked to stay on again for continuity’s sake. “The member companies said to me, we are now at a time of major transformation, such as achieving carbon neutrality, so we want to work under the same leader,” Toyoda said in an online news briefing. “I decided to accept because if my own experience of responding to crisis will contribute to overcoming the difficulties we are facing now, I would be more than happy. For the future of the automobile industry and for the future of Japan, I will do everything I can.” A focus of the upcoming administration will be tackling the industry’s shift to carbon neutrality and achieving the Japanese government’s goal of reaching net zero emissions by 2050. As part of a JAMA overhaul announced Nov. 18, the group adopted new vice chairmen from the the bus-and-truck sector and from the motorcycle sector to better coordinate carbon- neutral activities. Nissan CEO Makoto Uchida, who took the helm at his company in late 2019, and Honda’s Toshihiro Mibe, who became CEO in April, were also appointed vice chairmen. Source: Automotive News
New Nexus Roles Focus On Customer Experience, Sustainability
Global aftermarket alliance NEXUS Automotive International has created two new strategic roles, signaling an increased focus on customer relationships and furthering its strong commitment to sustainability. Bas Donders, N! brand and communication director, has been elevated to customer experience director, while former communication adviser Emmanuel Voguet has been appointed corporate communication and sustainability director. In his new role, Donders is tasked with developing an enhanced customer-oriented culture within the N! Community, making customer satisfaction an absolute priority for future years. He said, “I look forward to getting even closer to the evolving needs of suppliers, members, workshops, N! Academy attendees and other valuable contributors in the N! community. In this way, we can align the Nexus value proposition even more to their expectations and maximize the benefits that can be leveraged to the advantage of all.” A co-founder of Nexus, Donders has 30 years of experience in the automotive industry, working for leading aftermarket suppliers such as Valeo and Delphi before joining Nexus. Voguet’s responsibilities will see him charged with building upon the brand and communication strategy that has over the past seven years reinforced Nexus’ profile and values, with further steps in terms of digital and social media support. He also will drive global communications related to all sustainability initiatives that NEXUS has committed to develop within its own organization and throughout the N! community. Both Donders and Voguet will report directly to Nexus CEO Gael Escribe. Escribe said, “The creation of these new high-level roles is a milestone at the beginning of a new era for Nexus and its community, one in which customer satisfaction and the communication of messages around sustainability are a clear and absolute focus for us. I’m delighted that we have two such highly experienced and dynamic people on board to take us in this new direction. “Bas not only has great knowledge, global experience, and strong commitment, he also brings natural leadership with a positive approach that converts problems into opportunities. While Emmanuel benefits from a comprehensive knowledge and skillset in all fields of digital and other forms of communication that includes experience in current trends such as environmental issues and the new mobility,” said Escribe. Source: Aftermarket News
Scott Tucker Named To Uni-Select Canada’s Management Team
Scott Tucker has been appointed general manager, PBE Group for the Canadian Automotive Group (CAG) of Uni-Select Canada. Tucker has a great knowledge of the collision repair industry, having held various key positions with a major manufacturer. His vast experience and knowledge will be great assets for all our customers and for the network of Uni-Select members. Tucker will be responsible for managing the operations of the Canadian PBE group, which includes the FinishMaster stores, Plastique Royal and the relationship with CAG members. In collaboration with the head office team, he will actively participate in developing the product and marketing strategy for the PBE group. Tucker’s appointment comes following the decision of Michel Charbonneau, vice-president, sales, to start transitioning towards a well-deserved retirement. Prior to starting this new chapter in his life, Charbonneau has agreed to act as a strategic advisor to the company and help Tucker integrate in his new role. Going forward, Charbonneau also will assist and advise the management of Uni-Select on various projects and strategic initiatives. Source: Aftermarket News
ASA Announces Staff Promotion, Names VP Of Regional Services
As part of its new organizational model, ASA announced the promotion of Blair Calvo to vice president of regional services. Calvo was previously director of member services and has been with the association since late 2019. She has many years of extensive association experience, working in every department for professional and trade associations in the real estate, construction and dental industries. “In all my years of working for trade associations, working for a national association has been a dream of mine, and I’m grateful to ASA for this opportunity to grow and evolve the organization during a pivotal time in its 70-year history,” she said. In September, ASA announced it is transitioning to a new and innovative association model, leveraging its expansive history to create a single, unified industry voice. Under this new model, a 50-state regional structure will take place. The re-envisioned regional structure will allow the organization to expand its reach and improve member opportunities including advocacy, education, events and training for independent repair shops across the country. Calvo will oversee the implementation of the new membership model, including managing six regional executive directors, along with overseeing membership, marketing and events. Source: Aftermarket News
Katherine Harper Joining Modine Manufacturing Board
Modine Manufacturing Co., a diversified global leader in thermal management technology and solutions, announced today that Katherine Harper will join the company’s board of directors effective Jan. 20, 2022. Harper currently serves as CFO at BDP International, a private global logistics and transportation solutions company, as well as serving as director for Sasol. She also previously served as a director for Lydall, which was recently acquired by Unifrax. Prior employment includes extensive international experience serving as EVP and CFO of AgroFresh Solutions, SVP and CFO of Tronox, chief financial and business development officer, Diamonds & Minerals Group and other senior financial roles at Rio Tinto, director global finance for Gulbrandsen Group and senior financial and accounting positions with General Chemical Corp. “We are very pleased to welcome Katherine to the Modine Board,” said Marsha Williams, chairperson, Modine board of directors. “Katherine’s extensive experience serving as a strategic financial leader and active board member will be valuable as we take the important steps necessary to create a stronger Modine. This includes using 80/20 to drive the important strategic decisions necessary to accelerate growth and deliver a greater return for our shareholders.” Harper holds an MBA and a Bachelor of Science in Industrial Administration from Carnegie Mellon University, is a Board Fellow with the National Association of Corporate Directors, and a member of Institute of Management Accountants, Financial Executives International, The FENG, and the Forum of Executive Women and is Chair of the Board of the American Lung Association – Philadelphia Chapter. Harper will stand for election at Modine’s 2022 annual meeting of shareholders. Source: Aftermarket News
LSI Names James Palasota Chief Operating Officer
Lubrication Specialties Inc. (LSI) announced the addition of James Palasota as the company’s Chief Operating Officer (COO). Palasota has an extraordinary track record of developing startups into global brands, says LSI, conceptualizing strategic direction and developing the internal processes to ensure integration at all levels of operations, nationally and internationally. As vice president of sales and marketing for Sottera, Inc. he was responsible for introducing NJOY electronic cigarettes and vaping products; one of the first on the market in the U.S. At Sottera, he secured strategic partnerships in retail channels with multiple Fortune 500 companies growing sales to $4 million and was responsible for rolling out a global sales strategy. As vice president of Illumination International, DBA The Amazing Flameless Candle, Palasota successfully executed and led strategies to make this product a household name. Most recently, he served as COO for AFC Industries and Herbal Brands and as senior vice president of operations for UtekTik, Inc. in Scottsdale, AZ. “I look for challenges where I know I can make a difference,” said Palasota. “Sometimes that is with a startup, and at other times, it is with companies like Lubrication Specialties that have strong brand equity and are on the cusp of explosive growth. Over the last few months, I had the opportunity to get to know company founder and owner Chris Gabrelcik and we took our time discussing the company, its challenges and strengths. With the growth of Hot Shot’s Secret and the formation of LSI Chemical, LSI is now quickly developing international markets and it takes someone at the helm that understands the legal aspect of international business to make sure there is not a misstep, which is one of my strengths.” Gabrelcik adds, “Our company is fortunate that we have long-standing employees that are passionate and enjoy their work. Our company has experienced a lot of growth because of our passion and love of the industry. Jim has a wealth of experience and a proven track record of streamlining operations to reduce costs and build profit that will help us to improve as we grow here and abroad. We are fortunate to have someone with his expertise and innate ability to hone in on what needs to be done to best serve the company’s longevity.” Source: Aftermarket News
Fullbay Names New CEO And Executive Chairman
Fullbay, the turn-key platform created to improve the operational efficiency of heavy-duty repair shops, has announced Patrick McKittrick as its new CEO, effective Nov. 15. McKittrick succeeds current CEO and Founder Jacob Findlay, who will transition to executive chairman with the company he co-founded in 2014. Prior to joining Fullbay, McKittrick was CEO at FieldRoutes (formerly PestRoutes), and brings years of experience with a proven track record guiding software companies to a path of growth and success. Before FieldRoutes, he held executive positions with several leading companies, including Infor, PeopleAnswers and Hyphen Solutions. “When I approached our board to recommend this transition, we knew we would need a strong leader to accelerate the success Fullbay has achieved to date. Patrick is a customer-centric CEO who has run businesses catering to a blue-collar workforce and is familiar with many of the opportunities and challenges facing Fullbay, so I know he fits our needs perfectly,” said Findlay. “In addition, he has relationships with a number of Fullbay executives and has followed the business for years. We feel his experience will elevate this role and our company to a new level.” McKittrick and Findlay will work closely to ensure a seamless transition for customers, partners and employees, utilizing McKittrick’s acumen of operational excellence and Findlay’s deep understanding of customer needs to accelerate innovation and drive greater value for customers and the industry. “I’m excited to be a part of the continued growth of this company, which has demonstrated its value and purpose in a number of ways, from working to help alleviate the parts shortage through Fullbay Marketplace, to giving back to the heavy-duty industry through Fullbay Cares,” said McKittrick. “The Fullbay platform is innovative and extremely effective at solving some of the most pressing needs facing independent heavy-duty repair shops and internal fleet maintenance departments. I’m looking forward to helping guide our team towards even bigger solutions to benefit our customers and the industry as a whole.” McKittrick earned a bachelor’s degree in economics from the University of North Carolina. Source: Aftermarket News
Infineon names COO Jochen Hanebeck as next CEO
Infineon Technologies COO Jochen Hanebeck will become CEO of the semiconductor maker on April 1, 2022, succeeding Reinhard Ploss, who has led the company since 2012. The succession plan was approved last week by Infineon’s supervisory board, who gave Hanebeck a five-year contract, until March 31, 2027. Infineon said in a news release that he and Ploss would work together on the leadership transition. Hanebeck, born in 1968 in Dortmund, Germany, holds a degree in electrical engineering from RWTH Aachen University. He joined Siemens in 1994 (Infineon was spun off from Siemens as a separate company in 1999) in the U.S. as part of a joint venture with Siemens, IBM and Toshiba. Hanebeck became head of operations for the automotive, industrial and multimarket group in 2008, and was named head of automotive in 2008. He was named COO and a member of the management board in 2016. Ploss, born in 1955 in Bamberg, Germany, joined Siemens in 1986 as a process engineer. He became president of the automotive, industrial and multimarket group in 2000, and was named a member of the management board in 2007. He became CEO in 2012. Under his leadership Infineon acquired International Rectifier and Cypress Semiconductor. Infineon, based in Neubiberg, Germany, is one of the 10 largest semiconductor makers globally, with more than 50,000 employees and overall revenues of about 11.1 billion euros ($12.5 billion). The company ranks 49th on the Automotive News Europe top 100 global suppliers list, with automotive sales of $4.63 billion in 2022. Source: Automotive News
Jaguar Land Rover’s engineering boss to leave automaker
Jaguar Land Rover’s engineering boss, Nick Rogers, will leave the company at the end of the year, the automaker said. Rogers, 53, has led JLR’s engineering and research since 2015 during a 37-year career. “It’s been an honor to work with such an incredible team of people to engineer and launch some of the most desirable vehicles in the world,” the UK-born executive wrote on LinkedIn. “Today, after almost four decades, it’s time to hand over a stronger-than-ever technical team.” In a statement emailed to Automotive News Europe, JLR CEO Thierry Bollore thanked Rogers. “Over the last decades, Nick has experienced, shaped and led so much of the Land Rover — and the Jaguar Land Rover — story. We wish him every success in the future,” Bollore said. Rogers’ successor will be announced in the coming weeks, JLR said. Rogers is leaving to “explore opportunities outside the automotive industry,” the automaker said. No other details were given. Rogers joined Land Rover as a technician apprentice in 1984 when the automaker was part of British Leyland. He continued to rise through the company after it was renamed Rover Group and he became chief engineer under BMW’s ownership of Land Rover. Rogers was promoted to global vehicle line director in 2007 for Land Rover. He became Jaguar Land Rover’s head of product engineering in 2015, succeeding Wolfgang Ziebart. Rogers led the development of the Modular Longitudinal Architecture that underpins the new Range Rover but whose wider use within the company was severely curtailed after JLR decided to cancel the ‘MLA low’ and ‘MLA mid’ programs as well as the new Jaguar XJ. Jaguar Land Rover had intended for the MLA platform, which supports full-electric, plug-in-hybrid and internal -combustion engine drivetrains, to underpin nearly all its models by 2025, according to a presentation the company showed to investors in 2018. Source: Automotive News
Aston Martin CFO to leave for personal reasons
Aston Martin CFO Kenneth Gregor will step down due to personal reasons after about 18 months in the role, the automaker said. Gregor will depart as CFO and executive director no later than June 30, 2022, and the board has initiated a process to find a replacement, the UK company said. After a more than two-decade stint at Jaguar Land Rover, Gregor was recruited in mid-2020 soon after former Daimler AMG boss Tobias Moers was appointed as CEO to help the more than century-old Aston Martin navigate a slump in sales due the coronavirus outbreak. Gregor spent two decades at Jaguar Land Rover before his move to Aston Martin. “Over the last 18 months, Ken has played a significant role in rebuilding Aston Martin Lagonda’s financial position and setting the business on a strong pathway for the future,” Executive Chairman Lawrence Stroll said. In November, Aston Martin, whose shares have tumbled since its 2018 market debut, posted a third-quarter pre-tax loss of 97.9 million pounds ($130.01 million), even as sales doubled to 1,349 cars — driven by demand for its first SUV, the DBX. Source: Automotive News
Ford executive hired by Wells Fargo for investment banking post
Wells Fargo & Co. has hired Hunter Patton as a managing director in North American corporate and investment banking, focused on industrials. Patton will focus on automotive, automotive technology, capital equipment, and other select capital goods and service areas, according to a memo reviewed by Bloomberg News. Patton joins Wells Fargo from Ford Motor Co., where he was on the global strategy and corporate development team, directing strategy and execution of inorganic growth investment. He joined Ford in August 2017. He’ll be based in Chicago and report to Meara Kelley, head of industrials corporate and investment banking. “As we continue to invest and grow our presence in the industrials sector, we’re delighted to welcome Hunter, who brings extensive experience in the automotive and capital Goods sub-sectors and a proven track record in corporate development, mergers and acquisitions, strategy, and multi-stage venture investing,” Kelley said in a statement. A representative for Wells Fargo confirmed the contents of the memo. The bank’s industrial group has worked on deals including Blackstone Inc.’s purchase of building products firm Chamberlain Group and Oak Hill Capital’s acquisition of consumer-packaging manufacturer Technimark Holdings, according to data compiled by Bloomberg. Prior to joining Ford, Patton worked at Citigroup Inc. for more than 12 years as part of its industrials investment banking team, having begun his career with investment bank Stout Risius Ross. Source: Automotive News
Elaine Chao Joins ChargePoint Board of Directors
Electric vehicle (EV) charging network provider ChargePoint Holdings, Inc. announced the appointment of Elaine L. Chao to its board of directors. Secretary Chao has had a distinguished career as a national and global leader in the public, private and nonprofit sectors. She has been confirmed to two Cabinet positions by the United States Senate on a strong bipartisan basis. She served as both 24thU.S. Secretary of Labor and the 18th U.S. Secretary of Transportation. She was the first Asian-Pacific woman to serve in a Presidential Cabinet and is the longest-serving U.S. Cabinet secretary since World War II. “We are honored to appoint former U.S. Secretary of Transportation and U.S. Secretary of Labor Elaine Chao to our board of directors,” said Pasquale Romano, President and CEO of ChargePoint. “Secretary Chao served under two Presidents and held leadership positions at The United Way of America, Peace Corps and Bank of America. Her policy and transportation experience helps strengthen our diverse board of technology, mobility and energy expertise.” Beyond her extensive government service, Secretary Chao has held many corporate and board of director leadership positions in such organizations as News Corp., Ingersoll Rand, Protective Life, Wells Fargo and Dole Food Company. Secretary Chao was also President and CEO of United Way America, Director of the Peace Corps, and a banker with Citicorp and Bank of America. She is currently on the boards of Kroger Co., Hyliion Holdings Corp. and Embark Technology, Inc. She earned her master’s in business administration from Harvard Business School after receiving her undergraduate degree in economics from Mount Holyoke College. Recognized for her extensive record of accomplishments and public service, she is also the recipient of 37 honorary doctorate degrees. Source: Aftermarket News
Valvoline Announces Board Member Search
Valvoline Inc. announced today that the company’s board of directors is conducting a search to identify and appoint one or more new board members with significant experience in the areas of electric vehicles, energy transition and/or autonomous transportation. The new board member or members would support the Company’s positioning in the evolving transportation landscape. Valvoline will seek to identify a candidate by May 1, 2022. The company is conducting a simultaneous search for a new president for its Retail Services business. A leading executive search firm has been engaged to assist with both searches. “We are pleased to announce our director search as we work aggressively in parallel to pursue the separation of Retail Services and Global Products,” said Sam Mitchell, CEO. The company has held constructive discussions with Chicane Capital Management LP, the investment manager to current shareholder Chicane Opportunities Fund LP about board composition and identifying candidates with the relevant experience and expertise. Steve Kirk, chairman of the board, commented, “We value the perspectives of our shareholders and appreciate the constructive discussions that we’ve had with Chicane Capital. We look forward to continuing to engage with shareholders as we pursue the separation.” “We applaud Valvoline’s commitment to add new voices to the boardroom,” said Georgina L. Russell, the managing partner of Chicane Capital. “This is the right action to sustain Valvoline’s momentum. We are eager to see the Valvoline board continue to pursue transformative actions that unlock value. We are confident that the Valvoline board will identify and appoint forward-looking thinkers who can assist with the board’s focus on shareholder value.” Source: Aftermarket News
Dana Names New Chief Financial Officer
Dana has announced the appointment of Dana veteran Timothy R. Kraus as senior vice president and chief financial officer (CFO). Kraus succeeds Jonathan Collins, who will be leaving Dana to become CFO of Clarivate plc, a leading global information and analytics provider. Collins will continue with Dana through Dec. 15 to assist with the transition. An officer of the company with more than a decade of experience at Dana, Kraus most recently served as senior vice president of finance and treasurer. In this role, he was responsible for Dana’s global treasury operations, including corporate liquidity and cash and risk management. In addition, Kraus led Dana’s tax and business development activities – delivering on more than a dozen strategic acquisitions since 2016. “Tim has been essential to the success of Dana’s transformation strategy, as we have repositioned the company with class-leading innovation and a global presence while improving the strength of our balance sheet,” said James Kamsickas, Dana chairman and CEO. “I’d like to thank Jonathan for his service and leadership as he ensures a smooth transition.” Prior to joining Dana in 2010, Kraus held a number of leadership roles with Intelsat S.A., Lear Corp. and Ernst & Young LLP. Kraus is a certified public accountant who earned a Bachelor of General Studies degree in accounting and economics from the University of Michigan and a Master of Business Administration in general management from Michigan State University. Source: Aftermarket News
Edward ‘Ted’ McCormick Joins Truck Hero As CFO
Truck Hero Inc., a market leader for the industry’s best functional truck and Jeep accessories, has announced the appointment of Edward “Ted” W. McCormick as chief financial officer (CFO). He joins the company’s senior leadership team and reports to William Reminder, president and CEO. McCormick will be responsible for leading all aspects of Truck Hero’s finance and IT organizations, with a focus on key strategic initiatives and functions to support the company’s growth objectives. “Ted brings significant experience from his years as a strategic and operationally oriented finance leader with industry leading companies. During this exciting period of growth for the company, Ted’s expertise and proven track record of success makes him a critical addition to the executive team,” said Reminder. McCormick has more than 20 years of private and public company experience. Prior to joining Truck Hero, McCormick held CFO roles at The Bountiful Company, a leading manufacturer and provider of active nutrition and supplement products (which was acquired by Nestle Health Science from KKR and the Carlyle Group) and at Roland Foods (owned by Vestar Capital Partners). Prior to Roland Foods, McCormick spent more than 16 years with Unilever, where he held senior finance positions in supply chain, the Pepsi/Lipton Partnership, Ben & Jerry’s and in the Unilever foods business. McCormick earned his MBA from Columbia University and his bachelor’s degree in History and Political Science from the University of Vermont. Source: Aftermarket News
Lightning eMotors Appoints Marci Fouts As Chief People Officer
Lightning eMotors, a leading provider of all-electric powertrains and medium-duty and specialty commercial electric fleet vehicles, has announced that Marci Fouts, CCP, SPHR, has joined the company as chief people officer (CPO). Fouts has deep experience developing and designing human resources programs for companies that have gone through periods of rapid change. At Lightning eMotors she will oversee all aspects of human resources strategy including talent management and acquisition, culture and employee engagement, total compensation and diversity, equity and inclusion. She will report to CEO Tim Reeser. “Marci’s impressive leadership skills combined with her expertise in transforming corporate culture and employee performance – particularly in start-up environments – will be instrumental as we continue to grow and enhance our team,” said Reeser. “We are excited to welcome Marci to the Lightning eMotors team and look forward to seeing her create a robust and engaged workforce.” Fouts joins Lightning eMotors with more than 25 years of experience in human resources leadership roles across a variety of industries. Previously, Fouts served as vice president, Total Rewards & HR Operations at Advanced Energy Industries, where she worked since 2016. Fouts served as a strategic leader in driving growth, cost-savings and process improvements at the company. Her background also includes human resources and total rewards roles at Cloud Peak Energy, The Gates Corp., Henkel, The Dial Corp. and Lucent Technologies. “I’m thrilled and honored to join the Lightning eMotors team as Chief People Officer as it continues to innovate in the fast and rapidly changing commercial vehicle industry,” Fouts said. “Tim and his team have built an incredible organization and I look forward to bringing my passion for creating high-value people programs and driving operational excellence to Lightning. It’s rewarding to work for a company that is focused on sustainability and I am excited to work with my colleagues across the organization to create great employee experiences and build on the outstanding work that has already been done to develop a culture where employees and the company succeed.” Fouts also serves on the board of Alternatives to Violence Inc., is a member of Colorado Women of Influence and is involved with 50/50 Women on Boards. She holds a Bachelor of Arts in Management from the University of Phoenix, an Executive MBA from Leeds School of Business at the University of Colorado and is a Certified Compensation Professional (CCP) and Senior Professional in Human Resources (SPHR). Outside of work, Fouts is an avid beekeeper at her Loveland home. Source: Aftermarket News
Associated Equipment Announces VP Retirement
Associated Equipment Corporation (AEC) has announced that Gary Mackey is retiring from his position as vice president of global sales and marketing, effective Dec. 31. In addition, Michael Schoenbeck has been named the new national accounts sales manager for North America. “Gary has been instrumental in the growth of national account sales since joining our team thirteen years ago and has led our team sales strategy as vice president of global sales and marketing since 2013,” said Kim Cottle, president and CEO. “Gary brought a wealth of experience in new product implementation and integration to drive sales and grow the OE and national account channels for our company; he is truly an industry icon and we are fortunate to have him continue representing Associated with OEM customers”. “I’m really looking forward to this new chapter and continuing as a manufacturer’s representative for Associated Equipment with the OE channels. It’s a great way to slowly transition from but not completely stop working in the industry and with the company I have been with for thirteen years,” stated Mackey. Cottle continued, “we are also very happy to announce that Michael Schoenbeck is Associated Equipment’s new national accounts sales manager. Michael has a great background as strategic account manager and product marketing manager for major automotive tool and equipment suppliers and he is very familiar with many of our current national account customers. He is a fantastic addition to our team and will provide a seamless transition for our customers.” “I’m excited to work with a company that has such a long history for quality and innovation,” added Schoenbeck, “I’m looking forward to adding tools to my toolbox and working to grow Associated’s market presence in the industry.” Source: Aftermarket News
McLaren names Nicolas Brown president of Americas
McLaren Automotive’s former Americas sales chief Nicolas Brown has officially taken over as head of the region, the sports car maker said. Brown, 40, took the leadership position on an interim basis in July following Tony Joseph’s decision to step down from the role. Brown is receiving the job of McLaren’s president of the Americas at a good time, said dealer Robert DiStanislao, president of RDS Automotive, which operates two McLaren stores in Philadelphia and Newport Beach, Calif. “The supply-demand dynamic is excellent right now,” he said. “There’s far more demand than there is product. The new Artura order bank is filling, and we expect that to be a very successful launch.” Brown must now maintain the momentum. “There will be a new demand for more McLaren dealers,” DiStanislao said. But “it will be important to keep the dealer count low” to ensure product exclusivity and maintain margins. In his former role as vice president of sales, Brown helped improve retailer profitability and secured record certified pre-owned sales in the region, the automaker said. “He’s had great experience in the luxury market and has a good understanding of the customer service experience,” DiStanislao said. Before joining McLaren in 2019, Brown had a 16-year career with the BMW Group at its Rolls-Royce and BMW brands in North America and Europe, holding senior positions in sales, marketing, finance, product management and strategy. Source: Automotive News
Mark Finestone To Retire From AutoZone
AutoZone Inc. has announced that Mark Finestone, executive vice president, Strategy And Innovation, Customer Satisfaction, will retire in early 2022. “I give special thanks to Mark Finestone for his many contributions and years of remarkable service to our organization, customers and the automotive aftermarket industry. In his 19-year AutoZone career, Mark has driven innovation and provided both invaluable leadership and perspective. He has positioned the organization for continued success and accelerated growth into the future. I wish him and his family the very best in retirement,” said Bill Rhodes, chairman, president and CEO. Source: Aftermarket News
Intel to take Mobileye unit public in 2022 IPO
Intel Corp. plans to list shares of its Mobileye self-driving car business by the middle of next year, letting the chipmaker capitalize on its investment in a burgeoning industry. Intel will remain the majority owner after the transaction, which involves an initial public offering of newly issued Mobileye stock, the company said in a statement Monday. Mobileye’s executive team, led by Amnon Shashua, also will stay on board. News of the move, first reported earlier Monday, sent shares of Intel up about 8 percent in early trading in New York on Tuesday. The stock had previously gained just 2.3 percent this year, trailing the performance of Intel’s chip peers and broader indexes. The company planned to give more details on the IPO on Tuesday morning. Analysts at Morgan Stanley said the news was a “significant positive,” noting that Intel can generate some value from the business, as it will remain the majority owner, and the move will free up additional capital. Intel Chief Executive Officer Pat Gelsinger has been shaking up the company since taking the helm in February, looking to revive the fortunes of the world’s largest chipmaker. Intel, long the dominant maker of computer processors, has ceded market share to rivals such as Advanced Micro Devices Inc. and lost its technological edge in key markets. Against that backdrop, Mobileye has been a particular bright spot. The business, acquired by Intel in 2017 for about $15 billion, has consistently grown faster than its parent — and it serves a still-nascent industry. Intel has projected that the market for automotive silicon will reach $115 billion by the end of the decade. “Amnon and I determined that an IPO provides the best opportunity to build on Mobileye’s track record for innovation and unlock value for shareholders,” Gelsinger said in the statement. The auto industry’s shift to electric vehicles and more autonomous cars is creating a huge appetite for electronics. Mobileye makes chips and software that work with sensors to let vehicles handle more driving functions, with the ultimate goal of replacing humans in the role altogether. The company recently shipped its 100 millionth EyeQ chip system and unveiled a six-passenger vehicle that will be used for driverless ride-hailing services in Tel Aviv and Munich next year. It has won contracts with more than 30 top automakers globally, Intel said Monday. Mobileye has about 80 percent of the global market for advanced driver-assistance vision systems, according to researcher Guidehouse Insights. The unit, based in Israel, has tested its technology in robo-taxi fleets in Tokyo, Paris, Shanghai and Detroit. It posted revenue of $326 million last quarter, up 39 percent from a year earlier. Operating income climbed to $105 million, double the year-earlier total. Overall, Intel posted a 5 percent revenue increase in its third quarter. Mobileye expects revenue to rise 40 percent for all of 2021. The transaction won’t affect Intel’s 2021 financial targets, the company said. Intel has made other recent moves to push deeper into transportation technology. In 2020, it acquired Israeli startup Moovit for about $900 million. The purchase gave it access to data from public-transport mapping, which could be integrated into a ride-hailing service. That division, along with Intel staff working on lidar and radar development, will be part of Mobileye, the company said Monday. Intel’s broader comeback effort has been slower going. The stock slid after the company’s last earnings report in October, when management warned that the turnaround would hurt profitability over the next few years. Investors are waiting to see if Gelsinger can improve Intel’s products quickly enough to keep more customers from switching to competitors or, in some cases, designing the chips themselves. Source: Automotive News
Marelli China Names David Fan EVP And President
Global automotive supplier Marelli announced the appointment of David Fan as executive vice president, and president, China, effective Jan. 1, 2022. The appointment will be key to strengthening Marelli’s position in the growing Chinese market, and accelerating the company growth at global level, says Marelli. In his new role, Fan will be responsible for leading the business of Marelli in China, supporting growth for domestic Chinese OEMs and global OEMs in China, as well as supporting carmakers globally with innovative technology solutions. “Marelli is a brand with an incredible heritage and track record for quality and innovation. Although there have been a number of significant steps into the Chinese market, I believe there is still a huge opportunity for Marelli to further grow in China and I am truly honored to be joining the company at a time of such great potential,” said Fan. “I very much look forward to joining the team.” Fan built a 25-year career in the auto industry working in global companies with a strong China and international presence. His leadership credentials are supported by his strong technical background in Engineering, in which he holds a PhD from the University of Pittsburgh in the U.S.. He joins Marelli from Nexteer, the American, majority Chinese-owned automotive parts supplier, where he was global Vice President, and president, Asia Pacific. Prior to that, Fan spent five years with Delphi, based in Shanghai, where he was the Vice President, and president, China, responsible for China business development including sales and marketing to OEMs in China across all Delphi Technology BUs, and managing director. In the 17 years before that, he built his career at Tenneco, manufacturer and marketer of automotive products for original equipment and aftermarket. Fan also holds a BS degree in Mechanical Engineering from University of Science and Technology of China and MBA degree from University of Michigan. Marelli has a long-standing presence in China, with an industrial and R&D footprint and a number of joint ventures with local partners, developing and manufacturing technologies for several automotive product areas. The Chinese business will play a pivotal role in fostering the success of the whole company, Marelli says. Source: Aftermarket News
Herbert Diess stays on to steer VW into electric future
Volkswagen Group CEO Herbert Diess will stay on in the role, the company said on Thursday, ending weeks of uncertainty about his future as the automaker updated a five-year plan that sees spending on electric cars rising by about a half. VW Group’s supervisory board presented its annual update to the company’s five-year investment plan, outlining investments of 159 billion euros ($180 billion) and involving electrifying more of VW’s sites across Europe. Spending for EVs will be raised by about 50 percent to nearly $59 billion. VW Group also confirmed it expected its operating margin to be at the upper end of its 6 percent to 7.5 percent target range for 2021. Diess also will take on responsibility for the company’s software unit Cariad. Diess’s future had been in doubt following clashes with VW’s powerful labor unions. “We have made important decisions and found good answers to make Volkswagen fit for the future,” supervisory board Chairman Hans Dieter Poetsch said in a press conference following the announcements. Diess said: “I cannot complain about a lack of responsibilities — I continue to feel fully responsible for the company.” Source: Automotive News
Renee Cacchillo Named President, CEO Of Safelite Group
Renee Cacchillo has officially assumed her role as president and CEO of Safelite Group and also becomes a member of Belron’s global leadership team. Throughout her decade at Safelite, Cacchillo has held increasingly important and transformative roles in both the Safelite AutoGlass and Safelite Solutions business units, with a relentless focus on creating an unparalleled customer experience. This appointment is proof of Cacchillo’s expertise in growing the company and the respect she has gained throughout her tenure, the company says. “When looking for a new CEO, you want someone who can continue to take the company to new heights — and that is Renee,” said Gary Lubner, CEO of Belron. “Renee has demonstrated that she has all the leadership and strategic skills to build on Safelite’s successful journey, and I am delighted that that she has been appointed as President and CEO of Safelite. I’ve always been taken by Renee’s unique approach to a customer-driven business and her vision for maintaining the essence of Safelite. I look forward to working closely with her.” “I see and believe in Safelite’s future potential and am confident that we have the leadership, experience and skills needed to achieve the company’s goals for both growth and talent,” said Cacchillo. “We value our people, and together built a culture that exemplifies teamwork at its finest — with passionate associates dedicated to serving our valued customers and clients. I look forward to driving our company forward while staying true to our purpose and philosophies. It’s an honor to assume this role during a time of transformation and opportunity.” Cacchillo succeeds Tom Feeney, who served Safelite for 34 years and will assume a new role as executive chairman, Belron North America. Source: Aftermarket News
Ford adds Deere & Co. CEO John May to board; chief government affairs officer to retire
Ford Motor Co. said Thursday that John May, CEO of Deere & Co., has been elected to its board of directors effective immediately. May’s election expands the automaker’s board to 15 members, and he will serve on the finance, compensation, talent and culture, and nominating and governance committees. “Our industry is in an exciting period of disruption and we’re changing Ford in significant ways that are good for all our customers and stakeholders, with advanced technology and digital connectivity at the center,” Executive Chair Bill Ford said in a statement. “That’s what Deere is doing in its businesses, making John’s expertise invaluable to our board as the Ford management team executes the company’s strategy for growth and value creation.” May is the third new member to join the automaker’s board this year following the election of Alexandra Ford English and Henry Ford III, who replaced two retiring members. Separately, Ford announced that Mitch Bainwol, its chief government affairs officer who played a pivotal role in crafting an emissions framework with California and selecting U.S. sites for its largest-ever manufacturing investment, will retire at the end of the year. Bainwol, 62, has been in the position since March 2019. Before that, he was CEO for the Alliance of Automobile Manufacturers. “Partnering with governments is critical to constantly simplifying, advancing and accelerating what we do, so that we’re always giving customers and society the value they deserve,” Ford CEO Jim Farley said in a statement. “Mitch and his team have done a great job making those relationships possible and productive, putting Ford in the middle of important policy discussions.” Before his roles in the auto industry, Bainwol was chief of staff for multiple Republican senators and organizations and started his career as a budget analyst in the Reagan administration. Steven Croley, who oversees Ford’s legal, government relations, sustainability, environment and safety-engineering functions as chief policy officer and general counsel, will lead Ford’s government relations team on an interim basis until a successor for Bainwol is announced, Ford said. Source: Automotive News
GM innovation chief Pamela Fletcher leaving for Delta
Pamela Fletcher, an engineer who launched the Chevrolet Bolt and had been charged with leading much of General Motors’ transformation heading into the electric vehicle era, has left the automaker to become an executive with Delta Air Lines. Fletcher, 55, will become Delta’s chief sustainability officer on Feb. 1, Delta CEO Ed Bastian said in a letter to the carrier’s employees Wednesday. It’s her first job outside the auto industry in a career that spans more than three decades. “Pam is credited for her natural ability to build talented teams, especially when working on new technologies like EV and AV, for developing innovative business models and seeing what’s possible,” GM said in a statement confirming Fletcher’s departure. Fletcher has held leadership roles with GM for more than a decade, including overseeing the automaker’s electric and autonomous vehicle technology and much of its software expansion plans. Most recently, Fletcher was GM’s vice president of global innovation, a role reporting to CEO Mary Barra that the automaker created for her in 2018. During the automaker’s investor day in October, Fletcher outlined adjacent businesses that GM projects will help double the company’s annual revenue to $280 billion by 2030. She said her team had 20 startups in the pipeline, five of which had already gone to market, including GM Defense and OnStar Insurance. OnStar Insurance could generate a $6 billion revenue opportunity by 2030, she said. Fletcher’s team also is developing a new service called Future Roads, which would provide anonymized vehicle data to various government agencies to create safer and better-maintained roads. “Bringing in a leader of Pam’s caliber will give Delta the dedicated focus and ambition to lead the industry to a sustainable future,” Bastian said. “Her expertise and credibility will expand our ability to forge innovative partnerships, develop cutting-edge clean fuel and technology and invest wisely to reduce carbon emissions and waste in the years ahead.” Fletcher was featured on Automotive News’ lists of the 100 Leading Women in the North American Auto Industry in 2015 and 2020. She was an Automotive News All-Star in 2015 as GM’s executive chief engineer for electrified vehicles. Source: Automotive News
Alliance names Ford’s Kumar Galhotra as 2022 board chair
The Alliance for Automotive Innovation has named Kumar Galhotra, Ford Motor Co.’s president of the Americas and international markets group, as its 2022 board chair. Galhotra succeeds Chris Reynolds, Toyota’s chief administrative officer for corporate resources in North America, who was the 2021 chair. General Motors President Mark Reuss was the association’s inaugural chair in 2020. “This is an incredible time of transformation for the entire automotive industry, and I look forward to helping lead the charge into the electric vehicle future,” Galhotra said in a statement Wednesday. The alliance “is uniquely positioned now to build on the groundwork laid over the past several years and shape the future as public policy assumes ever more significance in the transition to electric and connected transportation,” he said. Galhotra was honored by Automotive News as a 2018 All-Star for helping to revive Ford’s Lincoln brand. The alliance represents most automakers in the U.S. as well as some suppliers and tech companies. Its members — including Ford, GM, Toyota and Volkswagen — are investing billions of dollars in electrification as the industry works toward achieving a goal of 40 to 50 percent EV penetration by 2030. “As the auto industry works to achieve a cleaner, safer and smarter transportation future, the direct involvement of senior industry leaders on our board is a huge advantage when it comes to realizing key industry priorities and investment,” John Bozzella, CEO of the alliance, said in the statement. “I am looking forward to working with Kumar as we build on the accomplishments of our association,” Bozzella continued, “and I appreciate Chris’s and the Toyota team’s strong leadership through 2021 as we navigated a remarkably challenging environment.” Source: Automotive News
Cars.com promotes Doug Miller to president
Dealership technology company Cars.com promoted Doug Miller to the role of president and chief commercial officer starting Jan. 1, assuming the No. 2 position at the Chicago-based company behind CEO Alex Vetter. Miller, 50, has been Cars.com’s chief revenue officer since August 2018, the company said last week in a regulatory filing. Prior to joining Cars.com, Miller was global vice president at travel site Expedia; chief revenue officer at LivingSocial, an online marketplace; and CEO of Chatbox, a conversational commerce startup. He has a bachelor’s degree from Hamilton College. “We’ve had an incredible year of growth across all of our businesses and Doug is uniquely qualified to unite the service and support systems to further enable customer success,” Vetter, who is president in addition to CEO, said in a statement to Automotive News. “Doug’s 20-plus-year career focused on growth, transformation and leadership of e-commerce businesses [gives] him the expertise to bring together the data, insights and solutions to our dealer and OEM customers that will enable them to operate more effectively using tech as an enabler.” Cars.com operates a vehicle listings marketplace and provides dealership websites and other software tools. In his new role, Miller will earn a base salary of $500,000 and receive an annual performance bonus target of 110 percent of his base salary, according to a regulatory filing. Source: Automotive News
Cooper Standard Announces Global Leadership Changes
Cooper Standard has announced changes to its leadership team: William (Bill) Pumphrey, executive vice president and president, Global Automotive and Industrial and Specialty Group (ISG), is retiring at the end of the year; and John Li, vice president and managing director China, is leaving the company to pursue other endeavors. As a result, the following changes will take place over the next month:
- Patrick Clark has been appointed senior vice president, chief manufacturing and commercial officer, and will assume responsibility for the commercial function and automotive profit and loss (P&L) in addition to his existing responsibility for manufacturing;
- Enrique Nogueroles has been named vice president and managing director – Asia Pacific and will assume P&L responsibility for the entire Asia Pacific business; and
- Ramsey Changoo has been appointed vice president and managing director – ISG, assuming P&L responsibility for the business. He will also join the Global Leadership Team.
“Patrick, Ramsey and Enrique bring a wealth of experience to these vital roles in our leadership team,” said Jeffrey S. Edwards, chairman and CEO, Cooper Standard. “Filling these positions with outstanding internal candidates is a testament to Cooper Standard’s culture and leadership bench strength. I am confident that they, along with the other members of our leadership team, will continue with laser focus on delivering world-class products and services to our customers and driving increasing value for all our stakeholders. On behalf of the entire Cooper Standard organization, I want thank Bill for his strong leadership and many contributions over the years.” With more than 27 years of automotive industry experience, Clark has held diverse leadership positions at Cooper Standard, including engineering, operations, program management, finance, strategy and sales. In addition to his current responsibilities leading Cooper Standard’s manufacturing operations functions toward world-class levels, Clark will also have global responsibility for customer satisfaction and business development in support of the company’s profitable growth targets. Nogueroles brings more than 12 years of industry expertise to his new role, where he will be responsible for the sales, program management and manufacturing activities in Asia Pacific, while partnering with engineering, manufacturing and other functions to execute China’s profitable growth strategy. He joined Cooper Standard in 2018 as managing director, Cooper Standard India and most recently served as vice president operations Asia Pacific & China joint ventures. Bringing more than 30 years of experience to his new role as part of the Global Leadership Team, Changoo will oversee the company’s ISG as vice president and managing director – ISG. In this position, Changoo will work to help progress the company’s diversification strategy to accelerate growth and maximize the value of the company’s products and technologies in industrial and specialty markets. He joined Cooper Standard as finance director in 2005 and has held leadership positions in finance and operations. Pumphrey joined the company in 2011 as North American president. During his career at Cooper Standard, he was instrumental in ensuring Cooper Standard supported customers in meeting the demands of the rapidly changing mobility landscape. He was also responsible for corporate strategy and the company’s ROIC (return on invested capital) improvement initiative, where he helped refine the strategy for future growth. Source: Aftermarket News
Standard Motor Products Appoints New Director
Standard Motor Products announced today that Pamela Puryear, Ph.D., has been appointed as an independent director to the company’s board. Dr. Puryear 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 Dr. Puryear, the size of the board of directors has increased from nine to 10 directors. Dr. Puryear currently serves as a member of the board of directors for Rockley Photonics Holdings Limited and NextGen Healthcare Inc. Dr. Puryear previously served as the executive vice president and global chief human resources officer of Walgreens Boots Alliance, Inc., the senior vice president and chief human resources officer of Zimmer Biomet Holdings, Inc. and the senior vice president and chief talent officer of Pfizer Inc., as well as other executive and consulting positions. Dr. Puryear holds a BA in Psychology from Yale University, an MBA from Harvard Business School, and a Ph.D. in Organizational Psychology. Lawrence Sills, Standard Motor Products’ chairman of the board, stated, “We are very pleased to welcome Pam to our board of directors. Pam brings to our company over 30 years of experience in human capital management, organizational transformation, innovation and finance. In addition, Pam’s experience with Environmental, Social and Governance issues will greatly assist our company in enhancing our corporate social responsibility strategies, and her business and executive experience and leadership skills will be valuable assets to our Board. We look forward to Pam’s contributions to our company.” Source: Aftermarket News
Faurecia Names New EVP For North American Region
Faurecia, one of the world’s leading automotive technology companies, has named Nik Endrud as executive vice president of North America. In his new role, Endrud will be directly responsible and accountable for the sustainable development of the business in North America. He will join the Faurecia Executive Committee, reporting directly to Faurecia CEO Patrick Koller. “With a background in customer management, operational excellence and a strong industrial knowhow, Nik will focus on a profitable growth strategy in North America,” said Koller. “His previous experience as head of North America’s Seating division and Global Business Development, Product Strategy & Innovation roles within Faurecia give him the expertise needed to lead the Region. I’m very pleased to welcome him back to the Group.” Endrud was previously group vice president and general manager for Tenneco’s global Ride Control business. Prior to Tenneco, he spent 13 years at Faurecia in significant Management positions. Endrud holds an engineering degree from Duke University, North Carolina. Source: Aftermarket News
Mevotech Promotes Assaf Bar-Menachem to VP, Product Management
Mevotech announced the promotion of Assaf Bar-Menachem as its Vice President, Product Management. Mevotech says Bar-Menachem is committed to ensuring that the company is continuously innovating and creating top-quality, technologically advanced automotive parts. Managing the product coverage volumes and research streams; he has extensive experience in product lifecycle management, supply chain optimization, value stream mapping and customer satisfaction. During his tenure, Bar-Menachem has held several prominent positions including director, supply chain and most recently as director, product management. He will continue to serve as a member of Mevotech’ s Leadership Team. The company engineers, designs and manufactures driveline, steering and suspension aftermarket parts. Learn more about Mevotech here. Sign up to receive monthly Mevotech updates, including new product releases, webinars, videos & animations, tech tips and more here. Source: Aftermarket News
PPG Appoints Brian Williams As Vice President And Controller
PPG has announced the appointment of Brian Williams, currently acting controller, as vice president and controller, effective immediately. Williams will have direct responsibility for PPG’s controllership function, including financial accounting and reporting, along with accounting policy and control. Williams will report directly to Vince Morales, PPG senior vice president and CFO. Since joining PPG in 2005 in financial accounting, Williams has held positions of increasing responsibility, including director, financial reporting, coatings, from 2009 to 2011, and as director, finance transformation, from 2011 to 2012. He was appointed director, financial analysis, silica, in 2012 and director, finance, specialty chemicals and materials, in 2014. In 2016, Williams was named director, corporate planning and development before being promoted to global director of finance, automotive refinish in 2018. In August 2021, he was named PPG’s acting controller. Prior to joining PPG, Williams was an audit senior manager at Ernst & Young. Williams is a certified public accountant and earned a Bachelor of Science degree in accounting from Duquesne University. Source: Aftermarket News
VinFast CEO Lohscheller steps down from post
German executive Michael Lohscheller is stepping down as CEO of VinFast Global, the automotive arm of Vietnamese conglomerate Vingroup. Lohscheller will leave the position and return to Europe due to personal reasons, Vingroup said in a statement on Monday. Lohscheller quit his job as CEO of the Stellantis brand Opel in July to lead VinFast’s push to become a “global smart electric car company,” with an emphasis on growing the brand’s business in Europe and North America, according to a release. He moved to Vietnam for the post. Le Thi Thu Thuy will lead VinFast’s expansion. Vingroup said Le Thi Thu Thuy will take over Lohscheller’s position of VinFast Global CEO. Thuy will remain Vingroup vice chairwoman. Thuy will directly be in charge of overseeing VinFast’s business activities in its current markets, including Vietnam, the U.S., Canada, France, Germany and the Netherlands, Vingroup said. In the coming time, she will also lead market survey activities and expansions into other potential markets globally, Vingroup said. Source: Automotive News
GM bids a brusque farewell to Dan Ammann
Just two months ago, Cruise CEO Daniel Ammann played a starring role in GM’s investor day presentation, where the automaker said it could double revenue to $280 billion by 2030. Ammann explained that Cruise alone could account for at least $50 billion of that $140 billion in growth. Right around that time, Cruise had applied to the California Public Utility Commission for a permit to charge for robotaxi rides sans safety driver. Only Alphabet’s Waymo is on pace to do that. Cruise is a big piece of GM CEO Mary Barra’s growth strategy and Ammann was getting the company ready to execute. Now, he’s out. This is no ordinary executive departure. Ammann was an investment banker at Morgan Stanley who played a supporting role in GM’s bankruptcy. Then he joined GM as treasurer and climbed to CFO before being named president on the same day Mary Barra was promoted to CEO. He played a big role in downsizing GM’s money-losing overseas operations, selling off that bottomless well of red ink called Opel in Germany. He was central in buying Cruise. Barra sent him to run it two years ago. That’s a decade of work at the highest levels of GM. Despite that, GM’s statement on his departure was perfunctory. “General Motors Co. announced today that Dan Ammann, Chief Executive Officer of Cruise, is leaving the company. Kyle Vogt, Cruise President and Chief Technical Officer, will serve as interim CEO.” When Dhivya Suryadevara left as CFO of GM in August 2020 to go to fintech startup Stripe, Barra was downright effusive. “Dhivya has been a transformational leader in her tenure as CFO,” Barra wrote at the time. “She has helped the company strengthen our balance sheet, improve our cost structure, focus on cash generation and drive the right investments for our future. We wish her every success.” Does this mean Ammann was pushed out? Cruise and GM aren’t saying. But when the parting note sounds like a parting shot, something has gone seriously wrong. It doesn’t seem like it’s the operations. Barra wants to see Cruise develop self-driving taxi services and build a new business for GM. Ammann was putting the pieces in place to do it. If one had to look for a place where the Ammann and GM’s board disagreed, it might be the pace at which Cruise goes public. Ammann stood to get $25.6 million in restricted stock if Cruise was sold or went public, and he’d get 101,000 warrants in the self-driving startup. An IPO would also bring in a lot more cash to develop fleets of robotaxis. Ammann, a former investment banker, may have wanted to get cash while SPAC and IPO money are still generously flowing, or at least make a deal before too long. Barra and GM’s board might prefer the status quo. When asked by an analyst about a Cruise IPO on the third quarter earnings call, Barra said the integration of GM and Cruise was an advantage and that the company is well-funded. They jointly built the Cruise Origin, a purpose-built autonomous shuttle. Even Waymo doesn’t have that capability. The timing of taking Cruise public could be a point of contention. Or Ammann could be leaving for a competitor. Whatever caused the split, it was a brusque farewell for an executive who played such a big role in transforming GM. Source: Automotive News
Dent Wizard Promotes Addison Thomas To President And COO
Dent Wizard International has announced the promotion of Addison Thomas to president, in addition to his current role as chief operating officer (COO). Thomas’ promotion is effective Jan. 1, 2022. Thomas has served as Dent Wizard’s COO since 2018, leading the company’s core service operations team. He served in various roles with Dent Wizard over the past 20 years, including vice president of operations and regional vice president of the west region. Thomas also previously served as president of Jahabow Industries, a commercial equipment manufacturer. “I continue to be humbled, honored and privileged to serve as Dent Wizard’s COO and now president,” said Thomas. “While my goal will be to continue to advance our strategy as a growth company, I will be focused on two key areas in support of our strategy: I want to continue to increase our value proposition to our customers so we are a true partner supporting their goals, and I want to continue to make Dent Wizard a great place for a career, providing unique and rewarding opportunities for our team members to grow and maximize their potential.” Added Dent Wizard CEO Mike Black, “I am excited about the experience, skill and passion Addison brings to this position. His combination of strategic approach, creative problem solving and analytical thought processes have been invaluable. As COO, he has helped Dent Wizard achieve our growth goals and deliver our value proposition to customers. And, more impressively, he’s stayed the course on these objectives while navigating through the COVID-altered environment.” Source: Aftermarket News
O’Reilly Automotive Appoints Fred Whitfield to Board
O’Reilly Automotive has announced the addition of Fred Whitfield to its board of directors, expanding the total number of board members to 10, with seven members designated as independent directors under the Nasdaq Stock Market rules. Greg Henslee, chairman of the board for the company, stated, “The expansion of the company’s board with Mr. Whitfield’s appointment is part of our ongoing focus to bolster the strength and diversity of our board. Whitfield brings to the company unique and extensive expertise in areas of the law and legal compliance, brand management and strategies, business development, and diversity and inclusion, as we continue to enhance our board with the broad experience and skill sets that provide the governance and oversight to drive our continued long-term profitable growth. This commitment to board effectiveness and continuous improvement is a key priority for our company, and we view the expansion of our board by adding Mr. Whitfield as an excellent opportunity to augment the existing competencies of our Board and further propel the achievement of our strategic priorities.” Whitfield has served as president, vice chairman, alternate governor and minority owner of Hornets Sports & Entertainment (HSE) since 2018. Whitfield joined HSE in 2006 as its president, chief operating officer and alternate governor, and during his tenure with HSE, he has overseen all areas of business operations and strategy for the Charlotte Hornets and Spectrum Center, including sales, marketing, public relations, legal, finance and human resources. Along with serving as an alternate governor on the National Basketball Association Board of Governors, Whitfield also currently serves as a member of the National Basketball Association Global Diversity and Inclusion Council. Prior to joining HSE, Whitfield was director of business/legal affairs of Jordan Brand (a division of NIKE, Inc.); director of Player Personnel and assistant legal counsel of the Washington Wizards; numerous positions with NIKE Inc., the last being director of player development, Basketball Sports Marketing; and Senior Partner of Whitfield & Blackmon, Attorneys at Law, LLP. Additionally, Whitfield is the founder of HoopTee Charities, Inc., which supports a number of non-profit organizations and initiatives. Whitfield holds a Juris Doctorate from North Carolina Central University, as well as a Bachelor of Business Administration in economics and a Masters of Business Administration in marketing, both from Campbell University. Source: Aftermarket News
Victor Wise Joins Total Seal As Director Of Quality
Total Seal Piston Rings, a manufacturer of high-performance piston rings, has announced Victor Wise as its new director of Quality. Wise is a quality professional, having worked in various aspects of the profession, with more than 15 years of management involvement. His experience includes aerospace, automotive, semiconductor, and commercial. His achievements have been in management, as well as a quality engineer, consultant, auditor, inspection and other positions. He holds a certificate as a lead auditor, as well as an internal auditor for quality standards. Matt Hartford, CEO and president, said, “We are excited to welcome Victor to the Total Seal team. His vast experience in quality with tight tolerance aerospace and automotive components will create another facet for our organization. Victor will be an asset as we continue to push the limits of piston ring design and manufacturing.” In his new role, Wise will focus on day-to-day operations, working with management and manufacturing to ensure the highest-quality product ships to the customer on time, with the tightest tolerances possible. Source: Aftermarket News
Göran Nyberg to Lead Commercial Operations at Navistar
Executive Member for Sales and Customer Solutions at MAN Truck & Bus SE, Göran Nyberg will join Navistar as Executive Vice President Commercial Operations, effective March 1, 2022. He exchanges positions with Friedrich Baumann, executive vice president of sales, marketing and aftersales, who will join MAN as Head of Sales, effective April 1, 2022. The exchange of expertise between Navistar and MAN strengthens the alignment of brands within the TRATON GROUP, further capturing the power behind the international group of strong commercial vehicle brands. “Both Friedrich Baumann and Göran Nyberg are proven commercial vehicle experts with extensive experience and a clear understanding of customer needs in the transport industry,” said Christian Levin, CEO of TRATON SE. “The change in personnel means that our international group of strong commercial vehicle brands is growing ever closer together. MAN, Navistar and thus the TRATON GROUP as a whole will benefit from this change and exchange of experience.” “Friedrich has been influential at Navistar. Under his leadership, Navistar has advanced an intimate joint alignment with the International truck and IC Bus dealer networks and dedicated all commercial operations to delivering maximum value that will lead to our customers’ success. I thank him for his service to Navistar and wish him the greatest success in further aligning the TRATON GROUP while at MAN,” said Mathias Carlbaum, president and CEO, Navistar. Nyberg has served as executive member for Sales and Customer Solutions at MAN since September 2018. He successfully managed the realignment of the Sales division solidifying the position of MAN Truck & Bus in the marketplace. Under his leadership, MAN also successfully launched its new generation of trucks. Prior to MAN, Nyberg spent time with Volvo Group, initially as managing director of Volvo Sweden in 2003, followed by international positions in management in Malaysia, Thailand and the United Kingdom. Most recently, Nyberg joined Volvo Trucks North America in 2012 as president, where he spearheaded the transformative commercial operations process leading to one of the most diversified customer bases in the North American commercial vehicle market. Carlbaum continued, “I am excited to welcome Göran back to the U.S. and to Navistar. He brings a wealth of international sales and transformative experience, as well as a complete understanding of the North America market which is essential to the continued success of Navistar’s commercial operations and executive leadership team.” Source: Aftermarket News
Brian Reese Joins Kian Capital-backed T Sportline as CEO
Kian Capital-backed T Sportline, a designer, marketer, distributor and e-commerce retailer of premium-branded aftermarket parts and accessories designed specifically for Tesla and other electric vehicles, announced that Brian Reese has joined the company as CEO. He joins T Sportline co-founders, Jon Pek and Elie Rothstein, who will continue respectively as VP of Product Development and VP of Sales & Marketing. Reese is a member of the Specialty Equipment Market Association (SEMA) Board of Directors and has more than 22 years of experience fueling premium direct-to-consumer brands with innovative products in the automotive aftermarket. He most recently served as CEO of Driven Lighting Group (DLG), the leading source of premium-branded automotive enthusiast lighting products, which was acquired by Wheel Pros, a designer, manufacturer and distributor of proprietary-branded aftermarket vehicle enhancements for light trucks, SUVs, passenger cars and ATVs/UTVs. Prior to DLG, Reese was CEO at Race Winning Brands, a manufacturer of racing and high-performance parts sold to automotive and powersports markets. “Brian’s successful track record leading premium branded automotive aftermarket enthusiast companies and sophisticated e-commerce business models made him the perfect partner to lead us as we enter into this next phase of growth,” said Pek. “He is equal parts strategic leader and innovator, having the unique ability to anticipate consumer need and capitalize on emerging opportunities.” Rothstein added, “I am excited to welcome Brian as CEO as he shares our vision for T Sportline’s potential and brings the rapid business scaling experience we’ll need.” T Sportline, founded in 2013, is a pioneer of premium-branded aftermarket parts and accessories designed specifically for Tesla vehicles. The company has developed a full suite of custom wheels and interior and exterior accessories that inspire customers interested in upgrading their Model S, Model 3, Model X and Model Y with modifications that not only enhance the look of their cars but also provide tangible performance gains. A digitally native business, T Sportline sells both direct-to-customer via e-commerce and through a wholesale network of dealers, delivering a rich online content experience for Tesla enthusiasts. “T Sportline impressed me as an authentic first-mover and trendsetter in the red-hot EV market—an authority within the space with tremendous potential to grow,” said Reese. “The company has established itself as the destination for all things EV, anchored with an impressive offering of must-have Tesla upgrades. I look forward to partnering with Jon and Elie to further solidify our position in the Tesla aftermarket and leverage that position to quickly expand to other EV platforms.” Kian Capital, a middle-market focused private investment firm, invested in T Sportline in June 2021. T Sportline represents Kian’s third platform investment in the automotive aftermarket space joining Driven Lighting Group (exited in September of this year) and The Eastwood Co. in the firm’s Fund II portfolio. The partnership reinforces Kian’s focus on investing in branded/enthusiast DTC companies with a differentiated strategy, a robust e-commerce presence and superior product lines that result in a highly engaged customer base. Rick Cravey, partner at Kian Capital, commented, “This is the second time we are partnering with Brian after he achieved incredible growth leading Driven Lighting Group. He is renowned in the automotive aftermarket space for successfully scaling businesses by complementing organic growth with value-accretive acquisitions. We are confident in his and the team’s ability to continue on T Sportline’s impressive growth trajectory.” Source: Aftermarket News
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