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Industrial Automobile Crew (“CVG” or the “Corporate”) (NASDAQ: CVGI), a world chief within the design and production {of electrical} methods, car parts and equipment, plastic merchandise and robot assemblies, nowadays introduced that its Board of Administrators has appointed James Ray because the Corporate’s subsequent President and Leader Government Officer. On December 20, 2023, he’s going to substitute Intervening time CEO Robert Griffin, who will proceed in his position as Chairman of the Board of Administrators for CVG.
The appointment of Mr. Ray follows an in depth, international seek procedure led by means of world, government seek company Heidrick & Struggles. The Board thanked Mr. Griffin for main the Corporate all through the seek for the everlasting President and CEO.
Mr. Ray has served as an Impartial Director on CVG’s Board since March 2020 and can stay at the Board as a non-independent director following his appointment as President and CEO. He additionally these days serves as an Impartial Director at the Forums of Leslie’s, Inc. and Spirit AeroSystems, Inc. Along with his Board roles, Mr. Ray has supplied consulting services and products to Fortune 100 firms and personal fairness portfolio firms. He brings intensive international and broad-based revel in in a lot of CVG’s key finish markets, together with electric methods. Previous to becoming a member of CVG’s Board, Mr. Ray served as President, Engineered Fastening at Stanley Black & Decker, Inc. the place he held more than a few international business P&L and operational management roles from 2013 thru 2020. Previous to Stanley Black & Decker, he spent greater than 25 years in international P&L and engineering management roles at TE Connectivity, Delphi, and Common Motors.
Mr. Ray earned a bachelor’s stage in electric and electronics engineering from Howard College and a grasp’s stage in production control from Kettering College.
“We have now decided on a world-class government with remarkable revel in and management talents, and he’s extremely well-suited to advance our long-term technique and boost up development,” mentioned Mr. Griffin. “James is a depended on and growth-oriented chief with intensive control revel in in international industries. He’s the best candidate to steer CVG thru its subsequent level of development, and we think an overly clean management transition.”
Mr. Ray mentioned, “I’m venerated to be named President and CEO and recognize the Board’s believe and improve. I look ahead to running with our roughly 8,000 remarkable staff as we execute our approach to ship worth to our consumers and shareholders. I’m excited and energized to steer this numerous group, a industry with an outstanding international footprint and varied product portfolio. In my time at the Board, I’ve best change into extra satisfied by means of the power of CVG’s basics, the transformative technique and our transparent development attainable.”
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