17th Feb 2021 08:50
(Alliance News) - TI Fluid Systems PLC said Wednesday President & Chief Executive William Kozyra will step down at the end of 2021, following an orderly transition to his successor Hans Dieltjens.
The company makes products that store and move fluids, such as fuel and brake fluid, around automobiles.
"Dieltjens will take on the role of chief operating officer effective March 1 as a transitional step towards becoming chief executive officer and being appointed to the board of directors concurrent with Bill's retirement," the FTSE 250-listed firm said.
Kozyra's current employment agreement will be extended to ensure a proper handover with Dieltjens, TI Fluid noted.
The company also said Dieltjens holds a master's degree in electro-mechanical engineering along with 25 years of automotive experience in Asia, Europe and the Americas.
Chair Manfred Wennemer said: "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."
Shares in TI Fluid Systems were 0.8% lower in London on Wednesday morning at 279.00 pence each.
By Paul McGowan; [email protected]
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