TI Fluid Systems PLC William L. Kozyra to retire as President & CEO (3933P)

TIDMTIFS

RNS Number : 3933P

TI Fluid Systems PLC

17 February 2021

17 February 2021

TI Fluid Systems plc

William L. Kozyra to retire as President & CEO of TI Fluid Systems, as Hans Dieltjens, Executive Vice President prepares for succession

TI Fluid Systems plc announces today that William L. Kozyra will retire as President and Chief Executive Officer and step down from the Board of Directors in the fourth quarter of this year, following an orderly transition to his successor, Hans Dieltjens.

Hans Dieltjens will take on the role of Chief Operating Officer effective 1 March 2021 as a transitional step towards becoming Chief Executive Officer and being appointed to the Board of Directors concurrent with Bill's retirement. Hans holds a Master's degree in Electro/Mechanical Engineering along with 25 years of automotive experience in Asia, Europe and the Americas.

Bill's current employment agreement will be extended to ensure a proper handover with Hans. There are no matters which would require disclosure under Listing Rules 9.6.13R.

Manfred Wennemer, Chair of the Board of Directors commented:

"Bill joined TI Fluid Systems in 2008 at the height of the global financial crisis and led the Company through that challenge to more than a decade of record performance. Bill was instrumental in bringing the Company public in 2017 and in developing and executing the Company's electrification strategy to address the Hybrid & Battery Electric Vehicle market developments. On behalf of the Board of Directors, I wish Bill all the best in his retirement and thank him for his 12 years of exemplary service. We've considered several high caliber automotive executives in addition to Hans Dieltjens for this position. I am pleased with the results of this activity which validated Hans' strong credentials and credibility in the automotive space."

Bill Kozyra, President & Chief Executive Officer commented:

"I could not be prouder of the tremendous success the Company has achieved, especially navigating through two global crises while also developing exciting new products for the emerging Electric Vehicle market. I thank our shareholders for their support of the past 3 years and am happy and fully supportive of the Board's decision to appoint Hans as my successor. During the 12 years that Hans and I have worked together he has continued to develop his leadership and strategic ability and is now ready to take on this very important role for our Company. I am confident the Company will continue its success under Hans' leadership."

 
 Enquiries: 
 
 TI Fluid Systems plc    [phone] 
 David J Royce 
 Investor Relations 
 
 FTI Consulting          [phone] 
 Richard Mountain 
 Nick Hasell 
 

About TI Fluid Systems plc

TI Fluid Systems (LSE: TIFS) is a leading global manufacturer of fluid storage, carrying and delivery systems primarily for the light duty automotive market. With nearly 100 years of automotive fluid systems experience, TI Fluid Systems has manufacturing facilities in 108 locations across 28 countries serving all major global OEMs.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

BOAGUGDDLDBDGBR

(END) Dow Jones Newswires

February 17, 2021 02:00 ET (07:00 GMT)