Adient plc, a leader in automotive seating, has named Frederick A. Henderson as interim chief executive officer and John M. Barth, Adient’s current lead director, as interim chairman of Adient’s Board. Henderson succeeds R. Bruce McDonald, who is stepping down as the chairman and CEO, and will remain as an advisor to the CEO until September 30, 2018.
Henderson was most recently chief executive officer of SunCoke and, prior to that, served as president and chief executive officer of General Motors. He has 26 years of automotive experience including direct involvement in China and Asia Pacific and 20 years of general management and operating experience, eight of which were as a CEO. He has served on the Adient Board since the company was established as a public entity in 2016. Henderson will remain a Board member but will relinquish his position on the governance committee.Adient plc, a leader in automotive seating, has named Frederick A. Henderson as interim chief executive officer and John M. Barth, Adient's current lead director, as interim chairman of Adient's Board. Henderson succeeds R. Bruce McDonald, who is stepping down as the chairman and CEO, and will remain as an advisor to the CEO until September 30, 2018.#
Henderson succeeds R. Bruce McDonald, who is stepping down from his role as chairman and CEO effective immediately, and will remain as an advisor to the CEO until September 30, 2018.
The Adient Board of Directors has commenced a comprehensive search process to identify a new CEO. That process will be coordinated on behalf of the Board by directors Barb J. Samardzich, Peter H. Carlin and Raymond L. Conner.
Henderson said, “While our market position remains strong and our China joint ventures continue to perform at high levels, we recognise that we are not executing at the levels we are capable of in our consolidated seat structures and mechanisms and seating segments, and that shortfall has been reflected in our financial results and valuation. My immediate focus is on better operational execution to drive meaningful improvements in profitability and free cash flow. We know what needs to be done and we will be approaching the work ahead of us with urgency.”
McDonald has served as the company’s chairman and CEO since its separation from Johnson Controls in 2016. (GK)
Fibre2Fashion News Desk – India
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