AUBURN HILLS, Mich.,
June 7, 2018 /PRNewswire/ -- The
BorgWarner Board of Directors today announced the appointment of
Frederic Lissalde to president and chief executive officer
effective August 1, 2018, at which
time he will also join the Board of Directors. Effective on the
same date, James R. Verrier will
step down from the president and chief executive officer role and
serve in a non-executive advisory role to the Board of Directors
and CEO to support a successful transition until he retires from
the company February 28, 2019.
![Frederic Lissalde named Chief Executive Officer, BorgWarner Inc. Frederic Lissalde named Chief Executive Officer, BorgWarner Inc.](https://mma.prnewswire.com/media/702738/BorgWarner_Frederic_Lissalde.jpg)
Lissalde has held positions of increasingly significant
responsibility during his nineteen years with the company. He
currently serves as executive vice president and chief operating
officer. Previous positions include president and general manager
of BorgWarner Turbo Systems, the company's largest business, vice
president and general manager of BorgWarner Transmissions Systems
and vice president of global sales and marketing of BorgWarner
Drivetrain Systems. He also served as managing director of several
operations in Europe for
BorgWarner Drivetrain Systems. Mr. Lissalde holds a Masters of
Engineering degree from ENSAM – Ecole Nationale Superieure des Arts
et Metiers – Paris and an MBA from
HEC Paris.
"I am very proud of what the team has accomplished during my
time as president and CEO, and truly believe the company is in an
excellent position for continued success. I feel the current
strength of the company is what makes this the right time to step
down. Fred is a proven global leader who I have worked with for
many years. I'm confident he will continue to lead this great
company forward for years to come," said James R. Verrier, President and CEO. "I would
also like to take this opportunity to thank all the BorgWarner
employees for making my BorgWarner career so very special, it's
been a wonderful journey."
"James has done a remarkable job of leading the organization and
evolving the company's vision, strategy and product portfolio to be
well aligned with the global industry trends," said Alexis P. Michas, Non-executive Chairman of the
Board of Directors. "His leadership to build a broad comprehensive
product portfolio for combustion, hybrid and electric vehicles set
the company on a path for continued growth regardless of how the
global markets evolve. Couple that with his continuous focus to
build a strong talent pipeline and having a top leadership team in
place that has proven its ability to deliver operational
performance, gives the Board great confidence in the company's
future. We are extremely grateful for James' many transformative
contributions which have positioned the company well for long-term
success to benefit all stakeholders. At the same time, we are
excited to have Fred lead the company and continue to build upon
our success."
About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a
global product leader in clean and efficient technology solutions
for combustion, hybrid and electric vehicles. With manufacturing
and technical facilities in 67 locations in 18 countries, the
company employs approximately 29,000 worldwide. For more
information, please visit borgwarner.com.
###
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Risk Factors identified in our most recently filed Annual Report on
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SOURCE BorgWarner