AUBURN HILLS, Mich.,
Oct. 19, 2018 /PRNewswire/
-- BorgWarner announced today the appointment of Thomas J. McGill to the role of interim Chief
Financial Officer, effective January
1, 2019. Mr. McGill will succeed Ron Hundzinski, 59, who will remain with the
company through the end of 2018 to ensure a smooth transition of
responsibilities before retiring from the company effective
December 31, 2018. Management
has initiated a comprehensive search process, which includes hiring
an external search firm, to consider internal and external
candidates to permanently fill the Chief Financial Officer
position.
Mr. McGill, 52, has been with BorgWarner for more than 17 years
and currently serves as the company's Vice President and Treasurer
reporting directly to Mr. Hundzinski, a corporate position he has
held for the past six years. During his time at the company,
Mr. McGill has worked in numerous corporate and operations
positions. In these senior roles, he has gained
comprehensive, executive-level financial and operational experience
in areas including cash management, capital allocation, balance
sheet oversight, external reporting, internal controls,
international and domestic tax planning, post-acquisition
integration, and restructuring activities. Mr. McGill holds a
bachelor's degree in accounting from the University of Illinois and an MBA from the
University of Chicago.
"I would like to personally thank Ron for his tremendous
contributions over the years to our company, particularly his
leadership in continuing the legacy of financial discipline that is
a cornerstone of our company's success," said Frederic Lissalde,
President and CEO. "I speak for the entire management team in
wishing Ron well in future career opportunities, and we appreciate
his commitment to helping with the transition of his role through
the end of the year. I have the utmost confidence in Tom and know
that he will continue to be a great asset as he leads our financial
team in this interim role."
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
66 locations in 18 countries, the company employs approximately
29,000 worldwide. For more information, please visit
borgwarner.com.
Statements in this press release may contain forward-looking
statements as contemplated by the 1995 Private Securities
Litigation Reform Act that are based on management's current
outlook, expectations, estimates and projections. Words such as
"anticipates," "believes," "continues," "could," "designed,"
"effect," "estimates," "evaluates," "expects," "forecasts," "goal,"
"initiative," "intends," "outlook," "plans," "potential,"
"project," "pursue," "seek," "should," "target," "when," "would,"
variations of such words and similar expressions are intended to
identify such forward-looking statements. Forward-looking
statements are subject to risks and uncertainties, many of which
are difficult to predict and generally beyond our control, that
could cause actual results to differ materially from those
expressed, projected or implied in or by the forward-looking
statements. These risks and uncertainties, among others, include:
our dependence on automotive and truck production, both of which
are highly cyclical; our reliance on major OEM customers;
commodities availability and pricing; supply disruptions;
fluctuations in interest rates and foreign currency exchange rates;
availability of credit; our dependence on key management; our
dependence on information systems; the uncertainty of the global
economic environment; the outcome of existing or any future legal
proceedings, including litigation with respect to various claims;
and future changes in laws and regulations in the countries in
which we operate, as well as other risks noted in reports that we
file with the Securities and Exchange Commission, including the
Risk Factors identified in our most recently filed Annual Report on
Form 10-K. We do not undertake any obligation to update or announce
publicly any updates to or revision to any of the forward-looking
statements.
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SOURCE BorgWarner