- Faurecia closes $6B billion acquisition of Hella to boost EV, self-driving business
- Tribby Warfield Appointed to Motorcar Parts of America Board
- Axalta Names SVP & Chief Operations, Supply Chain Officer
- Visteon Names Bunsei Kure to Board of Directors
- Electric Last Mile Solutions CEO and chairman resign after investigation
- The Alliance Names Director Technology Solutions
- BBB Industries Acquires Germany-based MAPCO
- JM Family Enterprises names Ravi Abbineni as its CFO
- Allison Transmission’s Michael Dick to Retire
- Old World Industries Announces New Chief Sales Officer
- Hertz taps ex-Goldman Sachs finance chief Stephen Scherr as CEO
- Change Of Management Announced for Rematec
- Cars.com to acquire Accu-Trade, launch online vehicle acquisition tools
- Hankook & Company hires Seongjin Kim as Chief Digital Officer
- Brett E. Lauter Named President of Driven Lighting Group
- EdgeEnergy Names Director of Finance and Investor Relations
- Jeff Wyler Automotive buys 7 dealerships from Superior Automotive
- Ford poaches former Tesla engineering director Alan Clarke
- GM adds Missy Owens, Biden’s niece and former Obama official, to global public policy team
- Scania Appoints New CFO And Executive Board Member
- Magna Announces Board Leadership and Other Changes
- Cummins Elects Jennifer Rumsey to its Board of Directors
- AirPro Diagnostics Appoints New Director of Field Support
- Canoo loses more executives as EV startup hemorrhages talent
- ProColor Collision Welcomes New Director of Operations
- Cary Redman Joins Race Winning Brands
- Hopkins Names New VP, Human Resources and Chief HR Officer
- CRP Industries’ Muldoon Named to MERA Council
- Jan Carlson Slated for AB Volvo Board Membership
- Stacey Phillips Joins 1Collision as Director of Marketing
- AutoZone Appoints New Board Members
- PFC Brakes Promotes Luis Maurel to Director Global Motorsports
- Ex-Opel CEO Lohscheller named Nikola president
- Tenneco going private in $1.6 billion sale
- TBC Corporation Names President & COO for TBC Brands, TBC International
- Peterson Manufacturing Announces Director of OEM Sales, Manager of Fleet Sales
- Apex Tool Group CMO Retires, Rich Mathews Appointed new CMO
- Carvana’s purchase of ADESA could shake up used-car market
- Pirelli Names New Head of Motorsport Communications
- PetroChoice Names Roy Rosas as Chief Executive Officer
- FullSpeed Automotive Adds New VP of M&A, CFO
- Quadratec Promotes 2 to New Sr. Category Management Positions
- Hutchens Industries Names New Southern Regional Manager
- Clarience Technologies Names EVP of Corporate Development
- Bridgestone Names New President of Consumer OE Tire Sales
Faurecia closes $6B billion acquisition of Hella to boost EV, self-driving business
Faurecia has completed its acquisition of a controlling stake in lighting supplier Hella in a 5.3 billion euro ($5.95 billion) deal that is one of the biggest in the European automotive supply chain deals in the past three years. Faurecia will hold 79.5 percent of Hella, the Paris-based supplier said Monday. The deal included 60 percent of Hella shares from a pool of family shareholders, and 19.5 percent from the settlement of a public takeover offer. The pool of Hella family shareholders will hold the largest bloc of shares in the combined company, with a 9 percent stake, Faurecia said. The Paris-based supplier won a bidding war in August for Hella, with other contenders including Mahle, Plastic Omnium and the German brake specialist Knorr-Bremse. At the time Faurecia said the transaction represented an estimated total enterprise value of 6.7 billion euros ($7.90 billion) for 100 percent of Hella. Faurecia makes seating, interiors and cockpit components, and electronics under its Clarion subsidiary. The company said in August that the combined group would be better placed to sell electric mobility products and automated driving services to the industry. Analysts say that Hella’s business making power and battery electronics and radar sensors for advanced driver assistance systems should be a good fit with Faurecia’s ambitions. Faurecia CEO Patrick Koller said Monday in a statement that the newly enlarged combined company would seek to generate 33 billion euros in revenue by 2025. That revenue forecast represents “a significant leverage,” he said, adding, “We will now work together effectively to immediately start implementing the significant and confirmed synergies that have been identified and create sustainable value for all our stakeholders.” Faurecia had earlier estimated that synergies could reach 300 million to 400 million euros of sales by 2025, and cash-flow optimizations are expected around 200 million euros per year on average from 2022 to 2025. The deal comes as automotive suppliers position themselves to take advantage of industry mega-trends such as electrification, connectivity and autonomous driving, by spinning off or selling “noncore” assets. Hella’s family shareholders said last year, in seeking a buyer, that the company had reached a size that required external competence beyond the founding family. Other notable supplier acquisitions in recent years include ZF Friedrichshafen’s purchase of Wabco for more than $7 billion in 2019 and Qualcomm’s acquisition of Veoneer for $4.5 billion, announced last October. M&A activity peaked in the auto industry in 2021, with a record $123.5 billion in dals in the first three quarters alone, according to the law firm of White & Case. However, the majority of that was linked to reverse SPAC mergers, White & Case said. Trading in Faurecia had been suspended Monday pending completion of the deal. Hella’s results will be consolidated into Faurecia’s starting on Tuesday. Faurecia, based in Nanterre, France, ranks No. 8 on the Automotive News list of top 100 global suppliers, with worldwide sales to automakers of $17.59 billion in 2020. Hella, based in Lippstadt, Germany, ranks 41st, with automotive sales of $5.47 billion. It is best known for lighting products, but also makes sensors, converters and power steering components. Faurecia said Monday that the combination of the two companies would create the seventh-largest automotive supplier. However, based on Automotive News’ calculations of 2020 revenues, Hyundai Mobis, with $25.1 billion in sales in 2020, would remain in seventh position. Hella traces its roots to 1889. The Hueck family has controlled Hella since 1923 and took the company public in 2014. It sold its front-camera software business to Volkswagen Group in February 2021. Faurecia began life in 1997 as the product of a friendly takeover of seating specialist Bertrand Faure by Peugeot SA’s equipment arm, ECIA. PSA Group divested its holdings in Faurecia as part of the agreement with Fiat Chrysler Automobiles that created Stellantis in January 2021. At the time, Koller suggested that Faurecia was looking for M&A targets to help reinforce its business as a standalone company. “The upcoming change in Faurecia’s shareholding structure will offer new opportunities for value creation,” he told analysts in February 2021.Those opportunities included the possibility of additional M&A activity, Koller said. Faurecia had committed 60 percent of its net cash flow to deleveraging and potential “bolt on” activity, meaning acquisitions or collaborations. Source: Automotive News
Tribby Warfield Appointed to Motorcar Parts of America Board
Motorcar Parts of America, Inc. today announced the appointment of Patricia (Tribby) W. Warfield to its board of directors –reflecting the company’s strong commitment to board diversity, experience, and solid corporate governance policies. “Tribby offers a wealth of automotive, industrial and distribution experience that will be invaluable to the company as we continue to benefit from the company’s global footprint. We look forward to her advice and counsel at an exciting stage in the company’s evolution, which today includes numerous complementary and high-demand product line offerings supported by favorable market dynamics,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc. Warfield, 62, most recently served as chairman and chief executive officer of APC Automotive Technologies, overseeing a restructuring and a strategic refocusing on braking and exhaust-related products. Earlier, she served as senior vice president, business development and strategy for Nitta Corporation, a Japanese global provider of power transmission and conveyor belting products for Europe, the Middle East & Africa. Previously, Warfield held dual positions at Kaman Corporation, as senior vice president and general manager for Kaman Fluid Power and Kaman Automation. Her career includes 25 years with the Gates Corporation and 11 consecutive years in Europe in key senior management and operational positions, serving in Belgium, Germany, and the United Kingdom. Warfield currently serves on the board of two private equity-sponsored global diversified manufacturing portfolio companies. She is an advisor board member of the University of Colorado Denver Business School, and formally served as an adjunct professor at the Daniels College of Business at the University of Denver. She is a member of the National Association of Corporate Directors, as well as The Committee of 200, comprised of the world’s most successful women entrepreneurs and corporate innovators. Warfield graduated cum laude with a bachelor’s degree in Business Administration from National University, San Diego. Source: Aftermarket News
Axalta Names SVP & Chief Operations, Supply Chain Officer
Axalta Coating Systems announced that Dr. Keith Silverman is joining the company as senior vice president and chief operations and supply chain officer, effective immediately. “Keith is an outstanding leader with an impressive track record in leading operational excellence with a strong focus on safety and sustainability,” said Robert W. Bryant, president and CEO of Axalta. “He will lead Operations and Supply Chain, which includes manufacturing, supply chain, procurement, engineering, quality, operational excellence and environmental, health & safety (EHS). I am pleased to add Keith’s expertise to Axalta’s senior leadership team. Keith is a dynamic leader who is effective at leading cross-functional teams to solve complex business problems, drive transformation and enhance operational rigor in a sustainable way while helping to deliver an exceptional customer experience.” Dr. Silverman was most recently an external advisor with Bain & Co., lending his well-recognized expertise to Bain consultants and clients across operations, supply chain, manufacturing, EHS and quality. Dr. Silverman has also held a range of progressive operational leadership roles in the chemicals and pharmaceuticals industries. He served as the senior vice president of Global Operations, Quality & EHS for Ashland Global Holdings, Inc., a global chemical specialty company operating in 100-plus countries. Prior to joining Ashland, he spent 23 years with Merck & Co. in various leadership roles within Global EHS, Project Engineering and Research & Development. Dr. Silverman earned a Ph.D. in Environmental Science and Chemistry from the New Jersey Institute of Technology. He also holds a master’s of public health and a B.A. in microbiology from Rutgers University. He is an executive committee member and past chair of the American Chemistry Council’s TRANSCAER program and a member of the International Association of Fire Chiefs Hazardous Materials Committee. “It is an exciting time to join Axalta,” said Dr. Silverman. “I am thrilled to join a growing global industry leader that is keenly focused on innovation and creating value for customers, employees and the communities in which the company operates. I look forward to contributing to Axalta’s future success with a focus on safe and responsible operations and on exceeding customers’ expectations.” Source: Aftermarket News
Visteon Names Bunsei Kure to Board of Directors
Visteon Corp., a leading global technology company serving the mobility industry, has announced the appointment of Bunsei Kure to its board of directors, effective Feb. 1, 2022. Bunsei Kure brings extensive experience in the global automotive and semiconductor industries, having served as CEO of Calsonic Kansei, a large Tier 1 supplier that is now part of Marelli, from 2008 to 2013, and as executive vice president and then as chief operating officer of Nidec, the world’s largest electric motor company, from 2013 to 2015. Bunsei Kure also served as CEO of Renesas Electronics, a leading supplier of semiconductor solutions to the global automotive industry, from 2016 until his retirement in 2019. In these roles, Bunsei developed extensive knowledge of the Japanese automotive industry, an important market for Visteon, with a deep network within Japanese OEMs and suppliers. “We are thrilled to welcome Bunsei to our board of directors,” said Francis M. Scricco, chair of Visteon’s board of directors. “His knowledge and expertise of the automotive and semiconductor industries will be very helpful in supporting Visteon’s future growth.” “Visteon has established a leading position in cockpit electronics and electrification, which are the fastest growing segments in the automotive industry today,” said Kure. “I look forward to working with Visteon’s board and executive team to further advance Visteon’s leadership position in the industry.” Bunsei Kure holds a law degree from University of Tokyo and a master’s degree in public affairs from Princeton University. Source: Aftermarket News
Electric Last Mile Solutions CEO and chairman resign after investigation
The top brass at Troy-based Electric Last Mile Solutions Inc. have resigned their positions after an investigation found they purchased discounted equity in the company just before it went public. President and CEO James Taylor and Chairman Jason Luo, each co-founders of the electric commercial vehicles maker, stepped down after the company’s board determined they bought company equity without obtaining an independent valuation, ELMS said in a news release late Tuesday afternoon. As a result of the investigation, conducted by a special committee of the board formed in November, the company is restating its consolidated financial statements covering the period from its August 2020 inception through Dec. 31, 2020, the six months ended June 30, and the nine months ended Sept. 30. Electric Last Mile achieved public company status in June in a SPAC merger deal with Delray, Fla.-based Forum Merger III Corp. News that the promising startup is losing the leaders that built it into a company once valued at $1.4 billion sent its stock price crashing. Electric Last Mile Solutions (NASDAQ: ELMS) saw its stock fall from $5.59 per share before the 5 p.m. Tuesday announcement to $3.85 less an hour later. The maker of electric commercial vehicles has appointed two of its board members to succeed Taylor and Luo. Shauna McIntyre steps in as interim president and CEO, and Brian Krzanich as nonexecutive chairman of the board. McIntyre has worked for 25 years in leadership positions with OEMs and most recently was president of San Francisco-based Ouster Automotive from October to January. She worked four years at Google, leading its automotive services and automotive maps program. She has been a board member at ELMS for eight months and is a board member for Lithia Motors Inc. “I am honored to serve as ELMS Interim CEO and look forward to continuing to work with the Board, leadership, and entire team as we transform commercial fleets into connected, clean energy vehicles,” McIntyre said in the release. “Importantly, Brian, the full Board and I want to assure all of our stakeholders, including customers, suppliers, investors and employees, of our continued focus and dedication to the Company’s ongoing business and mission.” Krzanich is CEO of Illinois-based CDK Global Inc. and the former CEO of Intel, where he was forced out of the company in 2018 following an investigation into a “consensual relationship with an Intel employee,” the company said at the time. “We are grateful to have Shauna as Interim CEO of ELMS,” Krzanich said in Tuesday’s release. “She is a proven leader and seasoned industry executive with operating experience at the intersection of technology and mobility. The Board is confident Shauna will ensure a smooth transition, effectively manage the business, and help chart a path forward.” ELMS started production of its all-electric delivery van at its Mishawaka, Ind., plant in September. That same month, it secured a purchase order for 1,000 units from distribution partner Randy Marion Automotive Group. Source: Automotive News
The Alliance Names Director Technology Solutions
The Aftermarket Auto Parts Alliance, Inc. has announced the promotion of Lance Brierley to Director Technology Solutions. With this expanded role, Brierley will play a key role in the development and deployment of Alliance eCommerce, communication and integration solutions for Alliance shareholder members and their customers across all distribution channels. “Lance and I have been working together to solve aftermarket problems and improve distribution efficiencies for many years while he was at Epicor and MAM. Consequently, I am confident in his ability to deliver innovative solutions while leading our agile development efforts here at the Alliance,” said Dale E. Hopkins, CIO and VP at the Alliance. Brierley fills a vital role for the Alliance Headquarters office in San Antonio, with a focus on problem solving across a variety of platforms and information technology tools. The collection of industry leading solutions with the Alliance Technology Suite is unique and keeping these on the cutting edge both in deployment and application is critical to Alliance shareholder members. “Lance has been a great addition to the Alliance Information Technology team,” said John R. Washbish, president and CEO of the Alliance. “Our headquarters office and our shareholder membership value Lance’s ability to analyze, design, and roll out technology solutions efficiently and effectively.” The promotion to Director Technology Solutions was effective on February 1st of 2022. Source: Aftermarket News
BBB Industries Acquires Germany-based MAPCO
BBB Industries, LLC (BBB) announced it has acquired MAPCO Autotechnik GmbH (“MAPCO”). This is BBB’s fifth acquisition in Europe since 2019. With this acquisition, BBB enters Germany and continues to expand into new product categories and geographies, the company says. Founded in 1977, MAPCO is based in Brück Germany and specializes in the design and distribution of a wide range of nondiscretionary spare parts and accessories to the automotive aftermarket, from Alpha Romeo to Volvo. MAPCO has nine regional centers across Germany to serve its car parc of over 50 million vehicles. Along with its operations in France and the United Kingdom, MAPCO serves all of Europe, says BBB. The company offers 53 product families across five product segments: steering/suspension parts, brakes, drive train/bearings, engine environment/filters, and electric/accessories. “MAPCO is a lauded brand throughout Europe with the reputation of offering quality-certified automotive replacement parts to its customers. With this acquisition, we add approximately 30,000 part numbers into our existing product portfolio. The combination is unparalleled,” said Duncan Gillis, BBB’s CEO. “We are tremendously excited to be in Germany working alongside MAPCO’s management team to bring remarkable value to our existing and new customer relationships with superior products and service.” Detlev Seeliger, founder of MAPCO, commented, “For over four decades, MAPCO has proudly worked to provide our customers with the highest quality products having exceptional availability. There is no doubt that, with BBB’s leadership and joining its global enterprise, MAPCO is well-positioned for accelerated growth and our markets’ technicians will be very well-served.” Source: Aftermarket News
JM Family Enterprises names Ravi Abbineni as its CFO
JM Family Enterprises has named a new CFO, a position it had filled a year ago with former AutoNation Inc. CEO Cheryl Miller, who vacated the role after three months. The Deerfield Beach, Fla., company said Wednesday that it had hired Ravi Abbineni as its new finance chief. Abbineni joins the $18 billion diversified automotive-focused conglomerate with two decades of experience across multiple industries. He most recently was CFO and head of strategy for Citizens Commercial Banking, part of Citizens Financial Group Inc. In a statement, JM Family CEO Brent Burns said Abbineni’s breadth of experience and financial industry knowledge make him an ideal candidate. Eric Gebhard, group vice president and treasurer, was named interim CFO in May. He will now focus on those previous duties, the company said. Auto dealer Jim Moran founded JM Family in 1968. The private company has grown to include Southeast Toyota Distributors, finance and insurance products provider JM&A Group, Southeast Toyota Finance, subsidiary business DataScan and a Lexus dealership in Margate, Fla. Three years ago, the company expanded by buying Home Franchise Concepts, a home improvement products and services franchise network. Source: Automotive News
Allison Transmission’s Michael Dick to Retire
Michael Dick, senior vice president, operations & purchasing for Allison Transmission Holdings Inc. has announced his retirement effective March 11, 2022. Rafael Basso, vice president, operations planning and business development, and Teresa van Niekerk, vice president, purchasing and supplier quality, who currently report to Dick, will report directly to David S. Graziosi, chairman and CEO of Allison Transmission, following Dick’s retirement. “Mike has been a significant contributor to our global manufacturing operations, supply chain, manufacturing engineering and facilities organization for the last 15 years,” said Graziosi. “His commitment to operational excellence and steadfast pursuit of global operating practices and systems have facilitated exceptional levels of performance and quality ensuring our ability to meet the evolving needs of Allison’s end markets.” Dick began his career with Allison more than 15 years ago as executive director of operations and plant manager for the 1000 Series and 2000 Series transmissions Indianapolis manufacturing facility, where his team significantly improved manufacturing cost per unit, hours per unit and customer quality metrics. He then served as executive director of manufacturing engineering, where he successfully launched Allison’s Chennai, India, manufacturing facility, relocated the 3000 Series and 4000 Series transmissions assembly operations to a new plant in Szentgotthárd, Hungary, and launched multiple new product architectures and variants. He was then promoted to the position of vice president of purchasing, supplier quality and manufacturing engineering and later to his current role of senior vice president of operations and purchasing. Under his leadership, Allison saw improvements in procurement’s commercial performance, material cost reductions, supplier quality improvements and numerous management systems and oversight enhancements. Additionally, Dick championed investments in two facilities in order to improve our global manufacturing footprint and vertical integration, in India and the USA. Dick holds a Bachelor’s of Science Degree in Mechanical Engineering Technology from Purdue University. “Mike has been a dedicated leader and instrumental to the success of Allison Transmission,” said Graziosi. “He leaves a talented and capable team that is well-positioned to take the organization forward for continued success. I wish Mike and his family all the best in his well-earned retirement.” Effective March 12, 2022, Basso will assume the role of vice president of operations with responsibility for oversight of plant operations, Walker Die Casting, facilities, business development, global supply chain and manufacturing engineering. Teresa van Niekerk will retain the role of vice president of purchasing and supplier quality, with responsibility for oversight of global procurement, supplier readiness and supplier quality. Basso has been with Allison Transmission for 22 years and since September 2021 has been responsible for the development of operations-specific strategy and support of corporate growth initiatives. Basso began his Allison career in 1998 with operational responsibility for Allison’s Brazilian MT transmission manufacturing facility and in 2001 was named project manager responsible for launching Allison’s Shanghai, China, Customization Center. Since 2006, Basso has served in multiple operational roles, including plant quality manager, production area manager, total productive maintenance manager and 4000 Series transmissions Indianapolis manufacturing facility managing director and executive director of plant operations before his recent promotion to vice president. Van Niekerk has been with Allison for nine years and has served in her current role since 2015. Van Niekerk joined Allison in 2012 as managing director responsible for all supplier relations and vendor contract management for direct and indirect purchasing as well as purchasing compliance and risk management. Prior to joining Allison, van Niekerk was the vice president of purchasing for Navistar Inc.’s truck division. Source: Aftermarket News
Old World Industries Announces New Chief Sales Officer
Old World Industries (OWI) has announced the hiring of a new Chief Sales Officer. Christie Wilmer joins the company’s executive team in the role tasked with leading the sales organization to its next chapter of accelerated growth. “We’re thrilled to welcome Christie to the OWI family as we continue the incredible momentum and results our sales team has been delivering,” said CEO Greg Noethlich. “Her extensive knowledge and insights, as well as proven track record of success for large-scale companies will help enhance our team’s already solid capabilities and keep us on track to achieve our aggressive goals as we head into this exciting new chapter.” In her new leadership role, Wilmer will focus on strengthening OWI’s sales leaders and their teams with capabilities that will drive improved functional excellence to better serve OWI’s large network of customers across all sales channels. Wilmer brings a wealth of sales experience, having previously served as VP of Sales – Beauty, with Henkel. Prior to Henkel, Wilmer served in sales leadership roles at Fortune 100 companies such as Kellogg Company, PepsiCo, and Philip Morris. “I’m excited to join OWI at a pivotal time in the company’s history with an upward growth trajectory,” said Wilmer. “The opportunity to work with the executive team and help impact our customers comes at an important time in the automotive industry. I look forward to helping continue the company’s strong customer-centric approach and maintaining its legacy of success with its iconic brands PEAK, BlueDEF and FINAL CHARGE and breadth of innovative products.” Source: Aftermarket News
Hertz taps ex-Goldman Sachs finance chief Stephen Scherr as CEO
Hertz Global Holdings Inc. named Stephen Scherr, a former Goldman Sachs Group Inc. finance chief, as its next CEO. Scherr will take over from Mark Fields, the former Ford Motor Co. chief who has been serving as interim CEO of the rental-car giant, Hertz said in a statement Friday. Scherr, who will assume his role at the end of February, spent three decades at Goldman, departing as CFO at the end of last year. Scherr comes in at a pivotal time when the rental car is beginning to electrify its fleet. Just months after emerging from bankruptcy, Hertz in October announced a blockbuster $4.2 billion deal to buy 100,000 Tesla Inc. cars, looking to tap into the growing interest in electric vehicles while aligning itself with the industry’s leader. The electrification plan will eventually encompass almost all of Hertz’s half-million cars and trucks worldwide. Shares of Hertz were up 3.3 percent to $19.89 in early trading Friday. “This is an opportunity not only to fix the business, but also to employ a strategy that allows us to play a central role in development of the modern mobility industry,” Fields said at the time. “One of our objectives is to lead in the adoption of electric vehicles.” Electrification is the latest turn in Hertz’s wild journey through the COVID-19 pandemic. When demand for rental cars collapsed in early 2020, the company, whose brands also include Dollar, Thrifty and Firefly, was forced to file for protection from creditors and began liquidating its fleet. By last year, thanks to a sharp rebound in travel and the global shortage of new cars, Hertz was thriving. The biggest U.S. car-rental company after Enterprise Holdings Inc., Hertz is also making a broad revamp of its business around mobility and digitization. One component of that will be expedited rental bookings on the Hertz app. Source: Automotive News
Change Of Management Announced for Rematec
Rematec, the remanufacturing event portfolio of RAI Amsterdam, will see a change of management as of Feb. 21. Yorien de Ruijter, director of Rematec, will leave RAI Amsterdam to pursue her career outside the remanufacturing and event industry. Responsibility of all Rematec activities will be transferred to Nynke Lipsius, group director mobility at RAI Amsterdam. “The past five years have been a great journey,” said de Ruijter. “Organizing six great events on multiple continents, I have been able to visit many remanufacturing companies and most of all I have made many industry friends over the years. I am proud to have played my part in developing the industry together with all the remanufacturing professionals and a great team here at RAI Amsterdam.” De Ruijter has contributed significantly to the development of Rematec. ‘’We are grateful for all Yorien has done for Rematec,” said Bas Dalm, executive vice president exhibition & sales RAI Amsterdam. “Although the event industry faced difficult times, she managed to keep the Rematec community united. Her enthusiasm, innovative way of thinking and dedication has kept Rematec top of mind.” Nynke Lipsius will take over responsibility for the Rematec portfolio. With more than 20 years of experience in the event industry Lipsius will continue to build on the Rematec achievements of recent years. Prior to joining RAI as trade show and event director in 2010 she has been active as an independent international congress developer. Lipsius has worked in several industries such as Building & Construction, Safety and Security, Automotive and the Unmanned Aviation industry. In 2017, Lipsius also interacted with the remanufacturing industry when she temporarily replaced Director Niels Klarenbeek. With this change, Rematec will become part of the RAI Amsterdam Mobility domain together with the Intertraffic Worldwide Events portfolio and the Amsterdam Drone Week (ADW). As smart and sustainable mobility continues to evolve, areas of overlap and synergy in current titles become more apparent. A combined strategic approach will further optimize the potential of Rematec, Intertraffic and ADW. Within the Mobility domain dedicated teams look after each brand portfolio. Source: Aftermarket News
Cars.com to acquire Accu-Trade, launch online vehicle acquisition tools
Dealership technology company Cars.com plans to acquire Accu-Trade, a provider of vehicle appraisal and valuation data and logistics technology, to launch online vehicle acquisition capabilities. Chicago-based Cars.com said Tuesday that it has signed an agreement to purchase 100 percent of Accu-Trade’s assets, which include Galves Market Data and Made Logistics, for $65 million in cash. The company said it expects the deal to close in about 30 days and that it will pay an earn-out of $63 million based on performance. Cars.com said acquiring Accu-Trade, which was formed in 2015, offers its dealership customers the ability to buy and sell vehicles, both dealer-to-dealer and consumer-to-dealer. Accu-Trade’s technology, including an instant guaranteed offer tool and VIN-based vehicle valuation and appraisal information, will be integrated across Cars.com’s online vehicle listings marketplace and dealership websites powered by its Dealer Inspire division. “We are excited to enter into the rapidly growing multibillion-dollar digital vehicle acquisition and remarketing category with Accu-Trade’s best-in-class valuation and appraisal technology,” Cars.com CEO Alex Vetter said in a statement. “These solutions will drive better inventory management and maximize profits for dealers while introducing a more efficient option for buying and selling wholesale inventory at scale. We will also empower millions of consumers to confidently and securely sell their vehicles online to the best buyer.” Cars.com’s “strong consumer audience and outstanding network of dealer customers, combined with its proven track record of delivering digital solutions, makes it the ideal match to drive wider adoption of the Accu-Trade platform,” Jeff Zamora, Accu-Trade’s chief technology officer, said in a statement. Zamora will join Cars.com’s leadership team, the company said. Source: Automotive News
Hankook & Company hires Seongjin Kim as Chief Digital Officer
Hankook & Company Co. Ltd., the holding company of Hankook Tire & Technology Co. Ltd., announced the appointment of Seongjin Kim as chief digital officer (CDO), effective immediately. Seongjin Kim will be responsible for further accelerating digital transformation of the group. As head of Digital Strategy Department, he will establish an innovation model based on advanced digital technologies and build Information and Communication Technology (ICT) strategies. He also will play a role as a control tower for IT area by building the group’s data process and analysis system, processing IT-related information, and integrating software systems. Seongjin Kim is a senior vice president with 25 years of experience in the digital and IT industry, most recently at Google Cloud Asia-Pacific’s manufacturing industry division. Before that, he served in Samsung Group, SAP, General Electric (GE) and Hyundai Elevator. At GE, he developed industrial digital platforms and IoT businesses, and carried out a smart factory project for manufacturing innovation. While at Hyundai Elevator as director of Digital Innovation Division, he led the establishment of corporate digital innovation strategies such as introducing AI and other new digital technologies, cloud-driven innovation, and work methods improvement. Bringing his deep expertise in the digital field, Kim is expected to expand Hankook & Company’s digital-based innovation by further incorporating artificial intelligence (AI) and big data to the entire ecosystem ranging from production to distribution, sales and customers service. “We are delighted to welcome the new chief digital officer into our team in line with the digital transformation strategy,” says Jongseon Ahn, chief operating officer of Hankook & Co. “Together with his expertise and innovative DNA of Hankook & Company, we expect great results that can further enhance our leadership and competitiveness.” “Hankook & Company is an innovation-driven organization and I’m excited to be part of it,” says Kim. “I’m anticipating achieving many new things together and create synergy among brilliant talents.” Source: Aftermarket News
Brett E. Lauter Named President of Driven Lighting Group
Driven Lighting Group (DLG), one of the largest suppliers of aftermarket automotive lighting products, has announced that Brett E. Lauter has been named the new president of the company. Serving on the executive team with Matt Kossoff, Chris Nelson, Jeremie Baker and Jiten Patel, Lauter adds impressive experience to the executive team, following the company’s acquisition in September 2021. Lauter last served as the CEO of Bestop Morris, LLC., (dba Morris 4×4 Center) where he remained in that position for more than two years. He oversaw company operations and led Morris 4×4 Center to improved top and bottom-line results and the eventual sale of the company. Lauter has been in the e-commerce industry for 23 years, beginning with his position as the director of marketing for Outpost.com; the second e-commerce site launched in the United States. “Having Brett join our team in this position of leadership is exciting because we get to leverage his years of experience with other large and respected companies,” said Chris Nelson, CMO of Driven Lighting Group. “His areas of expertise directly correlate to our existing business model and what we’re trying to build tomorrow. As a leading e-commerce company in the automotive lighting space, it’s important to us to build the best online programs and platform possible.” “I am thrilled to be a part of a smart, successful and energetic team and excited to be part of the continued growth of a great company,” Lauter said. “The automotive market has lagged a lot of the disruption and change other markets, such as retail, have undergone over the last few decades due to digital transformations and consolidations. DLG is already a trailblazer in the market and is primed to continue being the leader in the market for the foreseeable future.” Lauter has worked for several recognizable companies like The Home Depot, Carhartt, and Wine.com. At The Home Depot, he launched a premium lighting company, Paces Trading Company, and led all the marketing for homedepot.com and at Wine.com he served as the CMO. “I’ve learned that no matter the business sector, you’ll be successful if you focus on treating your customers and your employees with kindness and respect,” Lauter said. Lauter has a Bachelor of Business Administration in Marketing degree from the University of Georgia. Source: Aftermarket News
EdgeEnergy Names Director of Finance and Investor Relations
EdgeEnergy has appointed Gatewood Robbins as its new director of finance, accounting and investor relations. Robbins has a degree in Finance and Accounting from the University of Kentucky Gatton College of Business and Economics. Robbins has been part of the EdgeEnergy team for the past two years as part of the product and business development teams. His transition to this role is part of EdgeEnergy’s release of its innovative EdgeEV70 product and current capital raise to support the growth of the company in 2022, EdgeEnergy says. “I am excited to be part of the EdgeEnergy team,” says Robbins. “I saw the potential for their core technology to change the world, and I have been honored to be part of development of the EdgeEV70. I couldn’t be more thrilled to be at the forefront of the EV charging industry with our technology enabling fast-charging stations to be deployed in places where we had not been able to consider before.” “Gatewood has been an integral part of our team over the past two years,” says Greg York president and founder of EdgeEnergy. “The new position capitalizes on his strengths and creates a structure for growth as we move forward with our plans to scale in 2022.” Source: Aftermarket News
Jeff Wyler Automotive buys 7 dealerships from Superior Automotive
Jeff Wyler Automotive Family Inc. of Milford, Ohio, has acquired seven dealerships from Superior Automotive Group in its largest-ever acquisition, adding to its presence in the Buckeye State through several import brands and its first Acura dealerships. The transaction, which closed Thursday, was for three Hyundai dealerships, two Acura stores and Kia and Honda outlets: Superior Acura in Fairfield, Superior Honda in Cincinnati, Superior Kia in Cincinnati, Superior Hyundai North in Fairfield, Superior Hyundai South in Cincinnati, Superior Acura of Dayton in Centerville and Superior Hyundai of Beavercreek, all in Ohio. “We are excited to bring these seven Superior dealerships into the Jeff Wyler Automotive Family. We know one direction — forward — as we continue to grow and lead the market not only in Cincinnati, but nationwide,” Jeff Wyler President David Wyler said in a statement. “Our focus is to not only grow, but to also become more consumer facing every year and the addition of these dealerships means an even larger selection of inventory for our shoppers locally and across the U.S.” The Jeff Wyler group now has 23 dealerships in Ohio, Kentucky and Indiana. The dealerships were renamed Jeff Wyler Acura of Fairfield, Jeff Wyler Acura of Dayton, Jeff Wyler Hyundai of Fairfield, Jeff Wyler Superior Hyundai, Jeff Wyler Superior Honda, Jeff Wyler Hyundai of Beavercreek and Jeff Wyler Superior Kia. A used-vehicle dealership, Mike Albert Sales & Service in Cincinnati, was not part of the transaction, said Kevin Frye, Jeff Wyler Automotive’s marketing director. Terms of the transaction weren’t disclosed. The acquisition would add about $400 million in annual revenue and about 10,000 annual vehicle sales, according to a Cincinnati Business Courier report. Superior Automotive, of Cincinnati, was founded in 1924, according to Haig Partners, a buy-sell firm in Fort Lauderdale, Fla., which represented the seller in the transaction. Kevin Nill and Alan Haig were brokers. “I am happy the Wylers are buying the stores as I know they will continue to build on the legacy our family has created,” said John Betagole, president of Superior Automotive, in a statement. The transaction follows Jeff Wyler’s December purchase of Mercedes-Benz of Louisville in Kentucky. Jeff Wyler Automotive ranks No. 38 on Automotive News’ most recent list of the top 150 dealership groups based in the U.S., with 21,592 new-vehicle retail sales in 2020. The group said its new- and used-vehicle sales combined topped 45,000 last year. Source: Automotive News
Ford poaches former Tesla engineering director Alan Clarke
Ford Motor Co. has hired a former Tesla Inc. engineering director as it looks to challenge the Elon Musk-led company for EV leadership in the coming years. Alan Clarke, a 12-year Tesla veteran who most recently worked as director of new programs engineering, joined Ford in January in advanced EV development, according to his LinkedIn profile. He revealed the move on LinkedIn earlier this week. The hiring is the latest get for CEO Jim Farley, who has made strides convincing Wall Street the automaker can compete with Tesla and others in EVs and technology. It follows Ford’s hiring of Doug Field, a former Tesla engineer and head of Apple’s car program, to become its chief advanced technology and embedded systems officer. Source: Automotive News
GM adds Missy Owens, Biden’s niece and former Obama official, to global public policy team
General Motors Co. has hired Missy Owens as its director of environment, sustainability and governance policy within the Detroit automaker’s global regulatory affairs and transportation policy group. Owens, a former senior official in the Obama administration and the niece of President Joe Biden, will lead policy efforts in those areas while working to form alliances and foster collaboration in partnership with GM’s sustainability team. She started the newly created role Monday. She reports to David Strickland, GM’s vice president of global regulatory affairs and transportation technology policy. The Detroit News first reported Owens’ hiring Wednesday. “We are excited to welcome Missy Owens to our growing team,” Strickland said in a statement. “Missy’s extensive experience across organizations leading teams to establish sustainability policies will be an asset as we drive towards a carbon-neutral future by 2040.” Prior to joining GM, Owens spent eight years at the Coca-Cola Co., most recently as director of government relations, federal and diplomatic, where she worked with Congress and the former Trump administration to promote policies important to the company, including sustainability. During the Obama administration, Owens held senior leadership roles such as deputy chief of staff at the Energy Department and later chief of staff to the Commerce Department’s deputy secretary. She has a bachelor’s degree from Georgetown University and a doctorate in law from Brooklyn Law School. Owens’ hiring follows an ongoing effort by GM to strengthen its presence in D.C. and bulk up its office here as the automaker goes all-in on EVs. GM aims to stop selling new gasoline-powered cars and trucks by 2035. Last month, the automaker said it would pull ahead significant EV investments through 2025 and deliver a total of 400,000 EVs in North America over the next two years. GM’s recent hiring strategy has included the addition of former NHTSA chief Strickland to the team in September and public policy veteran Omar Vargas in July. The election of CEO Mary Barra for a two-year term as chair of the Business Roundtable, a Washington group that represents the CEOs of some of America’s largest companies, also amps up GM’s D.C. clout. Source: Automotive News
Scania Appoints New CFO And Executive Board Member
Effective April 1, Jonas Rickberg is appointed chief financial officer (CFO), reporting to Christian Levin, president and CEO. Rickberg is currently vice president finance and business control, sales and marketing at Scania. Since he started at Scania in 2005, Rickberg has held positions in finance, business control and services within the areas of research and development, production and logistics, commercial operations, dealerships and sales and marketing. He took up his current position as vice president finance and business control for sales and marketing in 2017. “Jonas Rickberg has a broad experience from basically all parts of our operations and there is no more well-rounded and business-oriented profile to lead the finance element of the transformation of Scania,” said Christian Levin, Scania, president and CEO. “Perhaps even more importantly though, his solid knowledge of flow-oriented operations and new business models – both key elements for Scania going forward – will add a lot of value for the company.” Rickberg has a Master of Business Administration from the Gothenburg School of Economics. Rickberg succeeds Johan Haeggman, Scania’s CFO since 2015 and who assumes the role as head of TRATON Financial Services, a dedicate captive financial services branch within the TRATON GROUP that aims to support the customer financing of new technologies and business models for TRATON. Source: Automotive News
Magna Announces Board Leadership and Other Changes
Magna has announced upcoming changes to the leadership of its board of directors, ahead of the company’s annual meeting scheduled for May 3, 2022. William L. Young, Magna’s board chair, has communicated his intention to retire at the end of his current term. The board has selected Robert F. MacLellan, currently audit committee chair, to succeed Young following Magna’s annual meeting. “It has been and continues to be an honor to serve as Magna’s chairman, working along-side a talented board and management team as the industry continues to transform,” said Young. “Magna’s leadership team is managing these unprecedented times with financial discipline and innovative thinking which will benefit all stakeholders for years to come.” “Although big shoes to fill, I look forward to tackling this role at such an exciting time in the automotive industry,” said MacLellan. Additional changes to the board include:
The Corporate Governance, Compensation and Nominating Committee (CGCNC) of the board has initiated searches for two independent directors, at least one of whom could serve on the Audit Committee. The CGCNC’s efforts are being supported by a leading board search advisor and guided by a long-term roadmap for the next phase of Magna’s Board renewal as the directors elected in the years following Magna’s 2010 Plan of Arrangement approach the end of their tenure. “I want to thank Bill for his outstanding leadership and contributions to the company’s success over the last 11 years,” said Swamy Kotagiri, Magna CEO. “He has been instrumental in helping guide the company’s disciplined approach to growth.” “The Board and Management team look forward to working with Rob and Peter in their new roles beginning in May. In addition, I would like to welcome Thomas and thank Cindy for her valued insights and contributions since joining the Board and Audit Committee,” Kotagiri added. Source: Aftermarket News
Cummins Elects Jennifer Rumsey to its Board of Directors
Today, Cummins Inc. announced that Jennifer Rumsey, its president and chief operating officer, has been elected to the company’s Board of Directors. “I am thrilled Jennifer Rumsey will join the Cummins Board of Directors,” said Tom Linebarger, Chairman and CEO, Cummins Inc. “Jen brings the skills and perspectives we need to address the biggest challenges of our time. Decarbonization is a growth opportunity for Cummins and essential to our planet and we will need Jen’s deep technical knowledge along with her customer and market knowledge to evolve our technologies and our business. She has played a key role in the development of products that bring our brand promise to life and further our aggressive sustainability commitments. Her 25-year career has focused on advancing technology and bringing products to market that make a positive difference in the world.” Rumsey began her Cummins career working on the first products where Cummins introduced emissions aftertreatment systems. Since then, Rumsey has worked across the product lifecycle and in various parts of the business – from advanced research to product quality – and has been deeply engaged with some of the company’s most important OEM partners. While serving as Chief Technical Officer, Rumsey led Cummins’ efforts to reduce criteria pollutants from its products. Rumsey was critical in the decisions to make strategic investments in key technologies and markets to transition to lower carbon emissions products, laying the foundation for what has resulted in the New Power Business and for Destination Zero, Cummins’ path to zero emissions strategy. As the President of Components, Rumsey oversaw a global portfolio of business units. While in that role, COVID-19 forced Rumsey to navigate some of the most complex business conditions in the company’s history while simultaneously resetting the strategic aim for Components to maximize future growth opportunities. Under Rumsey’s leadership, Components launched National Standard VI (NSVI) products in China and Bharat Stage VI (BSVI) products in India designed to reduce emissions while offering industry leading performance. Linebarger added, “When faced with COVID-19 and supply chain challenges, we quickly saw Jen’s agility in action, a reflection of how she understands that our ability to adapt and be flexible is critical to operating in a changing environment.” While President of the Components business, Rumsey was also a member of the Eaton Cummins joint venture Board of Directors and played a key role in launching the Endurant transmission in China. In 2021, the Components business revenues in China and India combined approached two billion dollars, reflecting the success of the new products launched with our customers and partners. In March 2021, Rumsey was promoted to president and chief operating officer, overseeing Cummins’ global operations. Rumsey also has maintained a relentless focus on our customers, working collaboratively to address global supply constraints. The company recently reported record revenues for 2021, and Rumsey’s leadership during this period was instrumental in delivering those results. Rumsey is a member of the Society of Women Engineers, Society of Automotive Engineers, the Purdue Engineering Advisory Committee and Women in Trucking Association. She holds a Bachelor of Science in Mechanical Engineering from Purdue University and a Master of Science in Mechanical Engineering from Massachusetts Institute of Technology. Throughout her career, she has been an advocate for diversity, equity and inclusion and women in STEM fields. Source: Aftermarket News
AirPro Diagnostics Appoints New Director of Field Support
AirPro Diagnostics announced that Ted McClintic has joined the company as director of field support. McClintic started his career at Church Brothers Auto Body in Indianapolis, in 1998, and went on to hold executive positions with large MSOs in operations, OEM certification and quality control. “We welcome Ted to our AirPro team and are confident he will bring tremendous value not only to our business, but also to our customers,” said Eric Newell, executive vice president of business development at AirPro Diagnostics. “Ted brings decades of hands-on experience in collision and most recently in diagnostics and ADAS calibration processes, implementation and efficiencies in multi-shop environments.” Added McClintic, “I am excited to join the AirPro team and bring my experience to increase the service level AirPro brings to all of its customers. In my experience, I believe AirPro to be the clear leader in remote diagnostics and calibrations. They continue to prove that daily in the marketplace. In my experience, it is virtually impossible for a body shop, on their own, to safely repair 25 or so brands with their complex on-board electronic and safety systems. Remote services from AirPro is clearly the solution.” The AirPro tool and calibration devices meet rigorous vehicle manufacturer requirements by having OEM-licensed software and multi-brand diagnostic applications resident and directly connected to the vehicle. ORION, AirPro’s cloud-based diagnostic management system, is the hub by which all services are delivered within the company’s “10-minute response pledge.” AirPro Diagnostics is backed by a team of uniquely skilled, diagnostic brand specialists who provide reliable, efficient and accurate scanning, diagnostic and ADAS calibration solutions that meet the highest level of quality and safety standards. Source: Aftermarket News
Canoo loses more executives as EV startup hemorrhages talent
Electric-vehicle startup Canoo Inc. has lost several key executives in recent weeks, deepening a talent drain as it faces an investigation by securities regulators. Among the recent departures is Mike de Jung, an early employee and close associate of Canoo’s chief designer; Nicolas Leblanc, vehicle program lead; and Richard Walker, who oversaw software controls, according to people familiar with the matter who asked not to be identified. Steven Offutt, one of Canoo’s earliest employees and the head of powertrain and battery manufacturing engineering, is also stepping down, the people said. “When you have smart, talented people, this sometimes happens,” a Canoo spokesperson said in a statement that didn’t directly address the departures. De Jung and Offutt didn’t respond to requests for comment, while Walker declined to comment. Leblanc confirmed his exit in a LinkedIn message. The losses complicate Canoo’s efforts to start manufacturing commercially focused electric vans later this year. The company has been under investigation by the U.S. Securities and Exchange Commission over its 2020 merger with a blank-check firm and subsequent “departures of certain of the company’s officers,” Canoo said in a regulatory filing. The company also faced pushback following a strategic shift last year away from contract engineering services. EV startups have been under pressure recently as investor sentiment has shifted following a wave of buzzy mergers and stock offerings last year. Companies such as Nikola Corp., Faraday Future Intelligent Electric Inc. and Electric Last Mile Solutions Inc. have struggled with executive resignations and other stumbles in the competition to take on EV market leader Tesla Inc. Canoo early last year lost CEO Ulrich Kranz, who took a job at Apple working on the company’s secretive car project, as well as its CFO, general counsel and powertrain division lead. By the end of the year, Canoo’s chief technology officer and several other executives left. The departures have continued more recently, with the chief marketing officer and vice presidents of manufacturing and investor relations stepping down, Insider reported last week. Canoo’s shares fell 24 percent this year through Friday’s close. Source: Automotive News
ProColor Collision Welcomes New Director of Operations
ProColor Collision announced it has appointed Javier Vargas its new director of operations for California and surrounding states as of Jan. 24. As the director of operations, Vargas will be responsible for providing direction and support for all operational components including financial profitability, growth and compliance for ProColor Collision franchisees. In addition, he will be accountable for process implementation and adherence to organizational standards as well as supporting processes with internal departments, national suppliers and vendors. “Javier will be our first point of contact for our ProColor Collision franchisees,” said Steve Leal, president and CEO of Mondofix Inc. dba Fix Network World. “His extensive background in virtually all aspects of automotive repair operations including production, sales and office functions in compliance with industry standards and practices makes him an excellent fit for this position. We know our franchisees will enjoy working with him to help grow their businesses.” A respected builder and leader of customer-focused teams in the automotive and insurance industries, Vargas’ previous roles included providing operational expertise to an independent body shop; managing Service King Collision, Caliber Collision and Vanguard; as well as being an auto damage adjuster supervisor at GEICO and a collision center estimator at Mercedes-Benz of San Diego. Vargas will be based in San Diego, Calif. Source: Aftermarket News
Cary Redman Joins Race Winning Brands
Race Winning Brands (RWB), a leading manufacturer of high-performance engine components for the automotive and powersports aftermarkets, has added seasoned industry professional, Cary Redman to the RWB family as vice president of Sales – Automotive. Redman is no stranger to the automotive aftermarket with more than 25-years of experience in the performance manufacturing and retail sectors, working with veteran organizations such as Holley Performance, Mr. Gasket Co. and Edelbrock, in sales leadership roles. Not limited to just his professional career, Redman’s passion and involvement in automotive performance began at an early age, growing up in Michigan surrounded by automotive racing and manufacturing history. Much like the rest of the RWB team, Redman is driven by that passion to this day and applies it to the many valued customers, partners, and industry friendships he has grown over the years. “As Race Winning Brands continues its growth through innovative products and strategic acquisitions of powerful brands, the addition of Cary Redman to our business comes at the perfect time,” said Bob Bruegging, CEO of Race Winning Brands. “Cary is familiar with working with multiple brands and channels of distribution, which is a mutually great fit for his new role at RWB. I’ve known Cary since 2003 and am confident he will help us reach the next level of sales – working with our customers, product and marketing teams, and operations and sales personnel at all our divisions.” Priding themselves in remaining at the forefront of the performance aftermarket, RWB’s addition of Redman to the team further establishes the company’s dedication to supporting its various automotive business channels. Redman will spend time with each of RWB’s automotive brands to become familiarized with their leading components and technology, ultimately helping him champion customer relationships and sales and marketing initiatives. “I am very excited to be part of the Race Winning Brands team,” said Redman. “The brands that are associated with RWB are synonymous in the industry with high-quality, race-proven products. I will ensure I drive our vision of ‘Leading racers to victory and enthusiasts to enjoyment with Race Winning Parts!’” Redman will be based out of RWB’s Mentor, Ohio, headquarters effective immediately. Source: Aftermarket News
Hopkins Names New VP, Human Resources and Chief HR Officer
Hopkins Manufacturing Corp. has announced the addition of Barrie C. Green as vice president – human resources and chief human resources officer. Barrie will have responsibility for all aspects of Hopkins’ human resources strategy, including talent management, leadership development, compensation and benefits, and leading the human resources function globally. Barrie will work closely with the executive team to further evolve the Hopkins culture to attract, retain and develop the best team. Green brings to Hopkins an excellent background in human resources, most recently serving as the vice president of human resources for CFS Brands LLC, a leader in foodservice, sanitary maintenance and healthcare/hospitality meal delivery based in Oklahoma City. Prior to that, Barrie served as vice president, human resources for Horton Automatics, a division of Overhead Door Corp., a leading manufacturer of doors and openers. Other experience includes HR and operational roles at Post Foods, Newell Rubbermaid and Goodrich. Barrie served in the US Armed Forces and has been an active member in her community, supporting the United Way, Boys and Girls Club and Relay for Life, among others. Source: Aftermarket News
CRP Industries’ Muldoon Named to MERA Council
CRP Automotive Director of Engineering P.T. Muldoon, has been named chairman of the Technology & Operations Council of MERA. Founded in 2021, the Technology & Operations Council is a peer group network that provides a forum for MERA member companies to discuss the latest techniques, developments, and equipment that are advancing the remanufacturing industry. Muldoon joined CRP Industries in 2020 and has spent 30 years in remanufactured product development engineering. He currently oversees CRP’s Complex Electronics and Mechatronics R&D Center in Ann Arbor, Michigan. Muldoon has presided over the launch of remanufacturing operations in the fields of electronics, engines, drivelines, fuel management, and automatic and manual transmissions. “This new post as Chairman of the Technology & Operations Council comes as no surprise to anyone who has had the pleasure of working with P.T. throughout his impressive career,” noted Scott Shea, CRP Industries chief operating officer. “P.T. has a lifetime of engineering and remanufacturing knowledge and always looks to share his expertise with others. The council is fortunate to be headed by one of the best in our industry.” Prior to joining CRP Automotive, Muldoon most recently served as the director of new product development – Electronics Remanufacturing for BBB Industries, where he helped head up the company’s Detroit Technical Center, the company says. He also spent two years as VP of Operations/Engineering at Electronics Remanufacturing Company, LLC (Walled Lake, MI) and was responsible for engineering and test cell development and all production operations. Source: Aftermarket News
Jan Carlson Slated for AB Volvo Board Membership
The Election Committee of AB Volvo proposes that Jan Carlson be elected as new Board member at the Annual General Meeting on April 6, 2022. The Election Committee also proposes the re-election of the Chairman of the Board Carl-Henric Svanberg, as well as Board members Matti Alahuhta, Eric Elzvik, Martha Finn Brooks, Kurt Jofs, Martin Lundstedt, Kathryn V. Marinello, Martina Merz, Hanne de Mora and Helena Stjernholm. Eckhard Cordes will not stand for re-election. Currently, Jan Carlson is President and CEO as well as Board Chairman of Veoneer Inc., a worldwide leader in automotive technology, and the Board Chairman of Autoliv Inc. He also serves on the board of Telefonaktiebolaget LM Ericsson. Jan Carlson, 61, is an experienced business leader in both corporate line management and public company board governance. He has 30 years of automotive industry experience from various management positions and Board work in global leading companies. Previous positions include a variety of leadership roles, including the role as President and CEO, within the Autoliv Group, the worldwide leader in automotive safety with operations in 27 countries, says the Volvo Group. He has also been the President of Saab Combitech and of Swedish Gate Array. The Election Committee of AB Volvo comprises representatives of four of the company’s largest shareholders, who together represent approximately 17.6 percent of the shares and approximately 39.0 percent of the votes, and the Chairman of the Board. The members who represent the largest shareholders are Bengt Kjell (AB Industrivärden), Anders Oscarsson (AMF and AMF Funds), Ramsay Brufer (Alecta) and Carine Smith Ihenacho (Norges Bank Investment Management). Source: Aftermarket News
Stacey Phillips Joins 1Collision as Director of Marketing
1Collision has named Stacey Phillips as its new director of marketing, effective immediately. Phillips will work closely with the 1Collision team to guide and support the company’s marketing strategy. She also will support the continued growth and development of 1Collision’s expansion of independent single and multiple location collision repair centers throughout the United States. “I’m excited to help 1Collision and its network shops with marketing and communications,” said Phillips. “I’m impressed with the type of assistance 1Collision provides to its affiliated collision repair centers and will help support that in my new role so shops can continue to be successful and provide excellent customer service.” Phillips is an award-winning writer and editor who provides a wide range of content and digital marketing for companies in the automotive and technology industries. In addition to reporting for national and international magazines, she has co-authored two books, including, “The Secrets of America’s Greatest Body Shops.” Phillips graduated magna cum laude from the University of Southern California with a double major in Journalism and Political Science. She also earned an Honors Thesis in Environmental Politics. “We welcome Stacey to the team and look forward to working with her to help support our affiliated locations,” said Jim Keller, president and COO of 1Collision. Source: Aftermarket News
AutoZone Appoints New Board Members
AutoZone has announced the appointment of Michael George and Brian Hannasch to the AutoZone Board of Directors. With these additions, AutoZone has 11 board members. “The additions of Mike and Brian to our Board of Directors will further enhance the tremendous depth of experiences, knowledge and skill sets represented on our Board,” said Bill Rhodes, AutoZone’s chairman, president and CEO, customer satisfaction. “We are very fortunate to add these remarkable and proven leaders to our Board.” Michael George formerly served as president and CEO of Qurate Retail from March 2018 to September 2021, the parent company of QVC, and as CEO of QVC from 2004 through July 2021. Prior to joining QVC, he served as the Chief Marketing Officer for Dell. Michael currently serves on the Board of Directors for Ralph Lauren (NYSE: RL). Brian Hannasch serves as president and CEO of Alimentation Couche-Tard, which operates Circle K, one of the world’s leading fuel and convenience retailers. Brian joined Couche-Tard in 2001 and was named President and CEO in September 2014. Prior to his current role, Brian served as Chief Operating Officer of Circle K. Source: Aftermarket News
PFC Brakes Promotes Luis Maurel to Director Global Motorsports
PFC Brakes announced the promotion of Luis Maurel to the role of director of global motorsports. His new responsibilities will include managing the PFC Brakes race department as well as strategically growing the PFC brand by increasing market share across new Sports Car platforms and other professional motorsports series across the globe, the company says. In addition to the new segments of racing under the PFC banner, Luis will be responsible for the management of current series in which PFC Brakes is the sole brake supplier (e.g., INDYCAR, SRX, Renault, etc.). “I am extremely excited with my new role as the director of global motorsports at PFC Brakes,” said Maurel. “During my entire Motorsport career, especially my time in the brake market, I truly admired PFC Brakes and what they have accomplished. I’m looking forward to this new challenge and putting all my experience and energy into this role and placing PFC Brakes where they belong… at the top of the Podium. NO COMPROMISES.” Luis’ tenure at PFC Brakes began in 2019 as the Motorsport Sales Manager for PFC’s Europe and Asia markets. In a few short years Luis was able to expand the PFC Brakes dealer network across Europe and into new markets in China, PFC Brakes says. Shortly after earning his degree in Business Administration from Zaragoza University in Spain, Luis won the Spanish Jr. Championships with JJ Cobas 250cc. He continued his international motorbike success throughout the mid-nineties capturing a 250cc European title, three years competing in MotoGP 250cc around the world, and one year in the World SBK series. Luis then opted for four wheels where he found success behind the wheel in Clio Cup, Seat Leon Super Cup, winning the Spain GT Open with Porsche, and driving for many other manufacturer-backed series across Europe. When he was not on the track, Luis was named the European Sales Manager for PJH Brands (PJ1, and VHT). Just a few years later in 2000, Luis was named the CEO of Galfer Auto, an automotive brake supplier to the motorsport, kart, and side-by-side markets. Luis was also responsible for testing new compounds for various racing disciplines. Source: Aftermarket News
Ex-Opel CEO Lohscheller named Nikola president
Former Opel CEO Michael Lohscheller has been hired by Nikola as president and tasked with helping the U.S. electric truck maker ramp up production. Lohscheller joins Nikola after a short stint as CEO of VinFast Global, the automotive arm of Vietnamese conglomerate Vingroup. Lohscheller arrived at VinFast in July 2021 but stepped down five months later and moved back to Europe for personal reasons, according to the company. Prior to that he was served as CEO at Opel under three different parent companies: General Motors, PSA Group and Stellantis. GM agreed to sell Opel to PSA Group in 2017 and PSA merged with Fiat Chrysler Automobiles in 2021 to form Stellantis. After losing tens of billions under GM ownership, Opel’s finances were brought into the black by Lohscheller, who was named an Automotive News Europe Eurostar in 2019 for his role in the German brand’s turnaround. Before leaving Opel Lohscheller announced that it would be an electric-only brand in Europe by 2028. “As Nikola moves into global production, an experienced and respected industry veteran like Michael strengthens the Nikola team,” Nikola Chairman Stephen Girsky said in a statement. “He knows his way around the manufacturing floors, board rooms and showrooms and has worked with the latest technologies throughout his career.” Lohscheller’s career has also included roles in finance, technology, purchasing and logistics at Mitsubishi Europe and Volkswagen, where he was VW Group of America executive vice president. He will report to Nikola CEO Mark Russell. Nikola’s first battery-powered models are scheduled to be delivered to customers in the U.S. early next year, with a fuel cell version slated to follow by the end of 2023. The vehicles will be manufactured in Germany. Nikola has been trying to bounce back from a credibility crisis spurred by inaccurate statements its founder Trevor Milton made before and after its merger with a Girsky-led special purpose acquisition company in June 2020. Milton resigned in September 2020, and federal prosecutors accused him in July of last year of lying to investors about Nikola’s business and capabilities. He has pleaded not guilty. Source: Automotive News
Tenneco going private in $1.6 billion sale
Tenneco Inc. agreed to be acquired by affiliates of Apollo Global Management Inc. in a $1.6 billion deal to take the diversity auto parts supplier private. Apollo will pay $20 a share, about twice Tenneco’s Feb. 22 closing price, the companies said Wednesday in a statement. The deal, expected to close in the second half of the year, has an enterprise value of $7.1 billion including debt. The sale wraps a tumultuous stretch for Tenneco, which has endured activist investor pressure, board shakeups and an 85 percent drop in the stock price over the past five years. More recently, semiconductor shortages caused by the pandemic have wreaked havoc on the automotive industry. The supplier of mufflers and other car parts will continue to operate under the Tenneco brand following the deal, the companies said. “This partnership will allow us to continue to invest in and grow Tenneco’s multiple segments and global footprint,” Tenneco CEO Brian Kesseler said in the statement. The deal was unanimously approved by Tenneco’s board. The Apollo deal marks the latest twist in Tenneco’s saga. The company agreed in 2018 to acquire longtime auto supplier Federal-Mogul, a rival parts manufacturer backed by activist Carl Icahn, for $5.4 billion with the intention of subsequently breaking the company apart. That plan was upended by deep strains in Tenneco’s business, leading to the resignation of co-CEO Roger Wood in early 2020. Around the same time, Dan Ninivaggi, a former Icahn Automotive Group executive, called for sweeping board changes, cash-raising steps and a possible sale of the company. In a January 2020 letter to the board, he said Tenneco “has never created a penny of shareholder value.” The stock has been on a steady slide from the mid-$60s in 2017 and early 2018. Separately, Tenneco said its fourth-quarter net income plunged to a loss of $35 million from a gain of $167 million during the same quarter last year. Revenue slid 6 percent to $4.4 billion. Tenneco ranks No. 15 on the Automotive News list of the top 100 global suppliers with estimated worldwide sales to automakers of $12.6 billion in 2020. Source: Automotive News
TBC Corporation Names President & COO for TBC Brands, TBC International
TBC Corporation (TBC), one of North America’s largest marketers of automotive replacement tires, is pleased to announce the promotion of Geoff Doster to President & COO for TBC Brands and TBC International. In his new role, Doster will oversee all TBC Brands and TBC International sales initiatives, including customer service, commercial tire sales, equipment & non-tire sales and operations. Doster joined TBC in November 2003 as a Warehouse Manager from Michelin. Since joining TBC, he has taken on roles of increasing responsibility from Director of Marketing for TBC’s distribution arm, at the time Carroll Tire, to Vice President of Sales for TBC Brands. Throughout his tenure, his efforts have resulted in surpassing sales objectives, higher customer service ratings and the development of customer-specific promotional activities. Most recently, Doster served as Senior Vice President of Sales for TBC Brands where he led initiatives focused on wholesale business growth. He also took on the oversight of TBC International to collaborate and provide guidance on sales opportunities outside of North America with a steadfast focus on exceeding the expectations of dealers throughout the Middle East and Europe. “Geoff’s appointment as President & COO for TBC Brands and TBC International reflects his business acumen, strong leadership skills and overall success as a leader in the industry,” said Laurent Bourrut, president & CEO, TBC Corporation. “Geoff has made significant contributions to TBC throughout his 18-year tenure with the organization and I look forward to continuing to work with him and celebrate his successes in his new role.” Source: Aftermarket News
Peterson Manufacturing Announces Director of OEM Sales, Manager of Fleet Sales
Peterson Manufacturing, a world-leading innovator in the design, engineering and manufacturing of a complete line of commercial vehicle/trailer safety lighting and harness systems, is pleased to announce Jay Davenport as Director, OEM Sales and Jody Schara as Manager, Fleet Sales. “We are excited to welcome Jay and Jody to the Peterson team. Both have many years of experience building strong relationships and taking care of fleets and OEMs in the commercial vehicle market,” said Al Anderson, vice president of sales & marketing. “Jay has been focused on lighting and harness systems for his entire career and Jody brings very strong technical knowledge to our customers as well. Their skills and experiences ensure that Peterson remains customer focused and top of mind to our current and future fleet and OEM customers.” As Director, OEM Sales, Davenport will be responsible for developing and managing OEM relationships across several market segments, positioning Peterson as the standard or optional lighting and harness system choice for the OEMs within those segments. Davenport comes to Peterson from Clarience Technologies where he was the Midwest Regional Sales Manager for their RoadReady system in 2020. This was his second stint at the company. He left Clarience, then Truck-Lite, in 2011 to join the Maxxima Division of Panor Corporation as its National OEM Manager at, where he developed their OEM base. Davenport was originally at Truck-Lite for 16 years. He held numerous positions like National Director of OEM Trailer/Body, working with OEM and fleet accounts that were strategic to the company’s growth, and Central Area Sales Director, where he focused on fleets, manufacturers as well as the Aftermarket. Earlier in his career, he was the National Sales Manager of Heavy Truck at K-D Lamp Company, where he helped develop products for large heavy and medium duty truck manufacturers. At R.E. Dietz Company, Davenport was a Regional Sales Manager, specializing in the automotive, truck, and agriculture industries. In Schara’s position as Manager, Fleet Sales, he will work with fleets and dealers to spec Peterson products at OEMs to drive business. He will work closely with Davenport to ensure that the needs of our fleet customers are met. Schara joins Peterson from ZF Group, where he was Key Account Leader for Trailer OEMs, responsible for sales and service of many major semi-trailer manufacturers. Prior to joining ZF, he held two positions at STEMCO; one as OEM Sales Manager, assigned to large OEM accounts and District Sales Manager, responsible for Aftermarket sales, pull through marketing, distributor management, customer relations, installation training, and service activity. With 20 years of sales experience, Schara held additional sales positions in his career in the commercial vehicle and construction markets. Davenport holds a B.S. in Business from Ferris State University in Big Rapids, Mich. While Schara earned his Executive MBA from the University of Wisconsin-Madison and his B.S. in Business Administration from University of Wisconsin-LaCrosse. Source: Aftermarket News
Apex Tool Group CMO Retires, Rich Mathews Appointed new CMO
Apex Tool Group today announced the retirement plans of current Chief Marketing Officer Bob Heisner. Heisner joined ATG in July 2016 and was named CMO in October 2020. In his time with ATG, Heisner helped build ATG’s six flagship brands, APEX, Cleco, Crescent, GEARWRENCH, SATA and Weller and repositioned Cleco as a master brand. His leadership served him well through the development of key business processes and ATG’s Digital Center of Excellence. “What a privilege it has been to work with this team. The changes that have taken place over the past six years are truly amazing! It is bittersweet to leave this incredible team, but I know they are in great hands, and 2022 should be another breakthrough year,” said Heisner. In anticipation of Heisner’s upcoming retirement, Rich Mathews has been named ATG’s new CMO. Mathews is a seasoned global marketing leader with over 30 years of experience in modernizing and growing consumer and commercial brands like Lenox, Irwin, Hilmor and Stanley Bostitch, DeWalt and Amazon. Mathews served as the Chief Marketing Officer, Newell Brands, leading global brand development and centers of excellence for insights, advertising, social media, packaging and graphic and industrial design. He also had operating responsibility for the global eCommerce division. As CMO, Mathews will focus on accelerating brand building and extending digital capabilities across ATG’s global portfolio. “While I am excited to join ATG and continue to build on the great foundation of ATG brands and products, I am most excited to be working alongside a team that is clearly passionate about winning and creating value through building great brands,” said Mathews. As a member of the Executive Leadership Team, Mathews will report directly to Jim Roberts, CEO, Apex Tool Group. “Rich is a world-class marketer and leader, and we are thrilled to have him join the Apex Tool Group leadership team. Rich brings extensive experience building global brands and creating value. We are confident Rich will lead our brands to an exciting new level for end-users, customers and associates,” said Roberts. Source: Aftermarket News
Carvana’s purchase of ADESA could shake up used-car market
Carvana’s plan to buy the No. 2 auction company in the U.S. could have major consequences in a segment where competition has long been stable, according to analysts’ initial impressions of the pending acquisition. The deal, announced late last week and valued at $2.2 billion, would hand over control of ADESA’s 56 U.S. locations, brand name, ADESA.com U.S. marketplace and some 4,500 employees to Carvana. It’s a substantial move on Carvana’s part — one the retailer hopes will expand its customer reach and strengthen its ability to recondition larger numbers of used cars and trucks to make them sale-ready. Analysts said the addition of ADESA will boost Carvana’s reconditioning capacity, possibly putting the company in good shape to nab a larger portion of a highly fragmented used-vehicle market. The acquisition plus build-out of its physical sites would mean Carvana’s vehicle-processing capacity could eventually exceed 3 million vehicles — about 6.5 percent of the used-vehicle market, Benchmark Co. analyst Michael Ward wrote in an industry note. On the other hand, some pointed out how dealers might not be too keen on ADESA becoming part of Carvana. “I could foresee that independent dealers who are selling at physical auction may not want to be selling their vehicles to a Carvana-owned auction,” Stephens Inc. analyst Daniel Imbro told Automotive News. The deal could shake up the wholesale auction market long dominated by ADESA and Cox Automotive’s Manheim, and cause defections to the latter — to the extent sellers want to move away from a Carvana adoption model, Imbro said. In the past, Carvana has partnered with Manheim on third-party reconditioning. It’s too early to tell how that partnership will be handled in light of the deal, Imbro said. Manheim did not directly comment on the Carvana-ADESA U.S. deal but issued a statement that said, in part, that the company “has serviced the best interests of all our industry constituents for many decades and will continue to loyally do so.” There’s certainly a chance the deal changes the wholesale backdrop across the country, Imbro said. “Carvana owning the business strategically makes sense and provides Carvana with meaningful reconditioning capacity, as well as pretty valuable real estate in a lot of metro areas,” he said. The planned ADESA purchase would mean 78 percent of the U.S. population would be within 100 miles of a Carvana-owned site compared with 32 percent before the deal, the company said. That could drive conversion on Carvana’s platform, Truist Securities analysts wrote. Some don’t expect the acquisition to significantly impact the dealer-to-dealer wholesale business. If anything, companies focused on asset-light services and a physical-to-digital shift may benefit from the deal, CarGurus CEO Jason Trevisan said during an earnings call with analysts and investors last week. “I think as a front-line retailer of cars, as a dealer, Carvana owning a wholesale platform … could create some channel conflict if they also own the auction piece of the value chain because they may have conflicting interests as both a wholesale buyer as well as a retailer,” Trevisan said. “But that’s not for us to decide.” Analysts from Stephens predicted the deal will be well received for KAR Global, though they said it’s a little surprising given how much emphasis the company placed on the value of having both physical and digital offerings. “They got a great selling price for the asset,” Imbro said. “It’s going to allow them to significantly pay down debt, which has been an investor focal point for a while here, and it streamlines them into a more digital business.” Possessing the ADESA U.S. network plus spending $1 billion on upgrading the physical sites will allow Carvana to build out its reconditioning capacity, but that will “take time,” Carvana CEO Ernie Garcia told investors and analysts last week. He did not provide a precise timeline. Carvana opened its 15th inspection and reconditioning center at the start of 2022. That bumped the number of vehicles it’s capable of receiving, inspecting and reconditioning to 880,000. The company estimates it will be able to process 1.2 million vehicles by the end of this year, then increase to 3 million thereafter. Carvana and ADESA U.S. will operate as two businesses on the same land, and the auction side will run the way it historically has, according to Garcia. But the two will immediately start working together on retail reconditioning, he added. ADESA sold more than 1 million vehicles through its 56 sites in 2021. Carvana secured up to about $3.3 billion from J.P. Morgan Chase Bank and Citi. It will use that to pay the initial $2.2 billion price tag and spend $1 billion on ADESA U.S. site upgrades. The transaction is expected to fully close in the second quarter. Source: Automotive News
Pirelli Names New Head of Motorsport Communications
Matteo Bonciani has been appointed as head of Motorsport Communications for Pirelli. In this role, he will be responsible for communications throughout all the company’s motorsport programs, which include Formula 1, the World Rally Championship and GT – as the Italian firm restructures its motorsport department within the overall communications and brand image department. Bonciani, from Florence in Italy, is a professional journalist who joined Ferrari’s product and Formula 1 press office in the 2000s before becoming communications director for the Asia-Pacific region. He moved to the FIA, International Automobile Federation, in 2010, prior to being appointed as Formula 1 head of Communications one year later. Bonciani held that position until 2019. Source: Aftermarket News
PetroChoice Names Roy Rosas as Chief Executive Officer
PetroChoice Lubrication Solutions, a leading distributor of lubricants in America and a portfolio company of Golden Gate Capital, has announced the appointment of Roy Rosas as CEO and member of PetroChoice’s Board of Directors, effective immediately. Rosas succeeds Celeste Mastin, who has decided to step down from her role at the company to pursue a new opportunity. She will remain a member of PetroChoice’s Board of Directors. Rosas is a highly accomplished professional with more than 25 years of strategic leadership experience. He has served as an operating executive at Golden Gate Capital since 2012 and has been actively involved with PetroChoice since it was acquired by Golden Gate Capital in 2015. He previously served as operating director with Berkshire Partners, and held the position of chief marketing and administrative officer at Vi-Jon (formerly a Berkshire portfolio company). Prior to Berkshire Partners, Rosas led Procter & Gamble’s Oral B Developing Markets Global Business Group. Earlier in his career, he co-founded Reputation Technologies, a supply chain analytics company that was acquired by Security Source, led strategy consulting engagements at the Boston Consulting Group and held marketing leadership roles with Procter & Gamble. He holds an MBA from Harvard, an M.S. from the National University of Singapore and a B.S. in Business & Accountancy from the University of the Philippines. “With a comprehensive suite of advanced lubrication solutions, a diverse and growing customer base and one of the greatest contiguous footprints in the U.S., we are proud to have built PetroChoice into the largest lubricant distributor with a major proprietary brand gaining in influence in the United States,” said Felix Lo, managing director at Golden Gate Capital and a PetroChoice Board Member. “Roy is a seasoned strategic leader who blends broad industrials experience with proven operational results. Importantly, he knows the Company very well having worked closely with the PetroChoice team from the beginning of Golden Gate’s investment. We are confident he is the right person to accelerate the strategies set in place under Celeste with complete continuity.” Lo added, “On behalf of the Board, I would like to thank Celeste for her many contributions to PetroChoice since joining the company in 2018 and wish her the best in her future endeavors.” Mastin said, “It has been an honor to lead PetroChoice over the past four years and I am proud of the tremendous progress we achieved during this period, including making investments in our unique, first-in-industry technology platforms, as well as strengthening our salesforce effectiveness and integrated operating model. I look forward to continuing to support the Company as a member of the Board. Roy and I have collaborated closely over the years, facilitating a smooth hand-off and assuring continuity of momentum for PetroChoice. Importantly, the leadership at PetroChoice is composed of talented professionals that will contribute to making the transition flawless.” Rosas added, “It is an incredible time to be at PetroChoice. With very strong demand signals across multiple sectors, reflecting resurgent macroeconomic activity, PetroChoice is poised to capitalize on this moment due to the hard work and transformation efforts completed over the last few years. I look forward to continuing to work with the PetroChoice team as we drive forward our strategic areas of focus, including footprint expansion, full deployment of our leading-edge technologies, growing our premium and proprietary brand offerings, strengthening our strategic partnerships and progressing on our M&A pipeline. I am confident that we will continue setting the gold standard for the distribution model of the future as we firmly execute on these areas, while continuing to prioritize employee safety and the company’s rich internal culture.” Source: Aftermarket News
FullSpeed Automotive Adds New VP of M&A, CFO
FullSpeed Automotive, one of the nation’s largest franchisors and operators of automotive aftermarket repair facilities, announced the hiring of Greg Penman as Vice President of Mergers & Acquisitions and Shane Jones as Chief Financial Officer. This news comes on the heels of a remarkable 2021 for the company, including the hiring of a new development team and the opening of its milestone 700th location. Penman brings over 20 years of experience to the FullSpeed team, with previous progressive roles in the gas and convenience business, including 12 years with BP. Previously serving as the Regional Director of Acquisitions at Yesway, he played a major role in the growth of the company’s portfolio of eight stores to over 420 in just five years. With an aggressive growth goal to reach its 1,000-unit milestone by the end of 2022/early 2023, Penman will spearhead FullSpeed’s nationwide expansion through mergers and acquisitions to grow flagship brands Grease Monkey and SpeeDee Oil Change & Auto Service. “I am most excited to have the opportunity to interact with existing sellers and owners and to be able to help them with the next phase of their life,” said Penman. “This process is very meaningful to me – watching other’s lives change because of this process is very impactful. I look forward to growing both Grease Monkey’s and SpeeDee’s portfolios into industry leaders nationwide.” Jones steps into the role of Chief Financial Officer, bringing extensive financial and operational experience from various world-class digital and direct-to-consumer brands. In those previous roles, Jones had a knack for combining finance and operations to strengthen companies by increasing profitability, driving increased cash flow, growing market share, and enhancing customer service. He has repeatedly partnered with private equity sponsors, board members, lenders, and executives to drive outsized returns. “FullSpeed Automotive is building a team of best-in-class leaders to elevate and fuel growth through acquisitions,” said Kevin Kormondy, CEO of FullSpeed Automotive. “Both of these remarkable leaders bring an extensive background to our growing leadership team. Greg’s combined background in the automotive industry and his passion for building trusting relationships with sellers, along with Shane’s analytical capability and operational mindset, are both a huge asset to the FullSpeed team, and we could not be more excited to see where they take our brands.” With a focus on exceptional franchisee support, streamlined operations, and growing its seasoned executive leadership team, FullSpeed Automotive has set aggressive expansion goals to reach its 1,000-unit milestone by the end of 2022/early 2023 as it seeks single and multi-unit operators throughout the United States and internationally. When franchisees invest with FullSpeed Automotive brands, they’re investing in an organization with a strong culture, solid systems, and a proven business model backed with 70+ years of experience in providing quality car care in the industry. Acquired by MidOcean Partners in November 2020, FullSpeed has its eyes set on aggressive development ahead. According to the 2020 Franchise Disclosure Documents, the Top 50% of Grease Monkey’s franchised stores generated $1,053,386 AUV and the Top 50% of SpeeDee Oil Change & Auto Service’s franchised stores generated $1,385,243 AUV. Source: Aftermarket News
Quadratec Promotes 2 to New Sr. Category Management Positions
Quadratec Inc. has announced the promotions of Howard Fullerton and Dan O’Connor to Senior Category Manager, effective immediately. The duo brings more than three decades of combined automotive industry experience in sales, purchasing and pricing, and offers proven results discovering and managing scores of vendors across the robust Quadratec catalog and digital product landscape. Fullerton and O’Connor will be responsible for the strategic direction and execution of the strategy and tactics for their respective categories. Additionally, they will coordinate the marketing efforts around those categories. “As a company, we are continually pushing the boundaries of our product mix to offer our customers the very best selection at the very best prices,” said Quadratec director of category management Phil Rees. “Our senior category managers will play a huge role in this process, and Howard and Dan both display exemplary work ethics that emulate the Quadratec culture. We look forward to many years of their ongoing great contributions and helping to move the business forward.” Fullerton joined Quadratec in 1997 and has extensive expertise in marketing, sales planning, pricing and vendor oversight. He most recently headed the company’s content management staff for five years before moving into a category management role. “I’m excited to help usher our category management division into a new era, and I look forward to expanding the opportunities for our vendors to get their products in the hands of our customers,” Fullerton said. O’Connor brings more than 11 years of inventory management and product experience to the senior category manager position, along with a deep understanding of marketing initiatives and building vendor relationships in an ever-changing digital environment. Prior to joining Quadratec in 2010, O’Connor was a senior associate and COO of Firecraft, Inc. “I couldn’t be more thrilled to dig in and work closely with the category management staff we’ve assembled in order to help grow our company and serve our customers,” O’Connor said. Source: Aftermarket News
Hutchens Industries Names New Southern Regional Manager
Hutchens Industries, a leader in the design and manufacture of spring suspensions and sliding subframes for the trailer industry, has appointed Jason McCann as its new southern regional manager. As the South’s Regional Manager, McCann is responsible for customer relations and sales in New Mexico, Oklahoma, Texas, Arkansas, and Louisiana. When asked why he decided to accept this new challenge at Hutchens, McCann replied “I’ve worked at Hutchens for the past 11 years, I started out on the production line and moved my way up into industrial engineering. It’s a great family-oriented company and I felt like this was the next step for me.” McCann’s previous experience includes driving trucks both locally and over the road, as well as being an owner-operator before starting at Hutchens. Hutchens says it is proud to have nearly 70 years of success and consistent growth for its employees with job satisfaction and a solid career path. Source: Aftermarket News
Clarience Technologies Names EVP of Corporate Development
Clarience Technologies, a global leader in advanced transportation technologies, has hired David Jacobs as executive vice president, Corporate Development, to accelerate the company’s global expansion into new and adjacent product categories that complement its current portfolio of companies. “As our industry continues to witness the ripple effects of electric and autonomous technologies, positioning Clarience Technologies for success in the future of transportation has never been more important,” said Brian Kupchella, CEO of Clarience Technologies. “David is the proven leader we need to direct strategic investment activities and grow our family of companies, strengthening our global footprint and allowing us to continue to advance future industry thinking.” Jacobs most recently served as vice president of mergers and acquisitions (M&A) at TopBuild Corp., North America’s leading installer and specialty distributor of insulation and building material products. Prior to that, he worked in investment banking and private equity in positions at Capstreet, Goldman Sachs, Intervale Capital and UBS, having first started his career in management consulting with Bain & Co. He earned a Bachelor of Arts degree in Economics and Managerial Studies from Rice University and a Master of Business Administration from Sloan School of Management at Massachusetts Institute of Technology. Michigan-based Clarience Technologies is the parent company to Truck-Lite, RIGID, Lumitec and LED Autolamps advanced LED lighting, DAVCO filtration systems, ECCO and Code-3 safety systems, and the Road Ready and Fleetilla advanced telematics brands. Source: Aftermarket News
Bridgestone Names New President of Consumer OE Tire Sales
Bridgestone announced leadership changes to the company’s Consumer Original Equipment Tire business in North America. According to Bridgestone, David Colletti has joined Bridgestone as president, consumer OE tire sales. As president, Colletti will lead all original equipment tire activities for the North American market. In addition, he will be responsible for setting the growth strategy for the company’s OE tire business with a key focus on expanding the company’s offering beyond tires. Bridgestone says that Colletti has a proven track record of creating and delivering value for automotive manufacturers. He joins Bridgestone from Sumitomo, where he most recently served as vice president, OE, technical service and quality assurance. Prior to joining Sumitomo, Colletti held roles of increasing responsibility at several Tier 1 tire and automotive component manufacturers, the company says. Shannon Quinn, previously president, consumer OE tire sales, North America, has accepted a new assignment helping shape Bridgestone’s strategy with emerging original equipment (eOE) customers. She will continue to serve as a member of the Bridgestone Americas core tire leadership team as well. Source: Aftermarket News
Maccabeus LLC 