Delphi Automotive PLC (NYSE: DLPH) Chief Executive Officer and President
Rodney O’Neal, today announced plans to retire March 1, 2015, following
a distinguished 43-year career. Effective Oct. 1, 2014, Kevin P. Clark,
Delphi chief financial officer and executive vice president, is named
chief operating officer and will succeed O’Neal as CEO and president
upon his retirement next year.
O’Neal, 61, will stay on in an advisory role until the end of 2015. Mark
J. Murphy, formerly president, U.S. Industrial Gases, Praxair, Inc., is
appointed CFO and executive vice president, succeeding Clark, also
effective Oct. 1, 2014.
Jack Krol, Delphi’s chairman of the board stated, “Rodney O’Neal has
been an exceptional CEO in guiding Delphi’s transformation and
positioning it as an industry leader. After successfully leading the
company through its Chapter 11 restructuring, Rod took Delphi public
with its IPO in 2011, generating significant shareholder value. With Rod
at the helm, Delphi’s market capitalization has increased more than
three-fold to $21 billion. We are extremely grateful for his
invaluable contributions and look forward to his continued support in an
advisory role.”
“Delphi’s strength, industry-leading portfolio, strong financials and
talented leadership team all position it for continued future success,”
said O’Neal. “Kevin has been a key leader in creating and implementing
our business strategy, and I have every confidence he will continue to
drive strong value creation. As for me, I’ve had over 40 demanding,
eventful and amazing years. It's time."
In his role as COO, Clark will continue to report to O’Neal and will be
responsible for all business segments, as well as the Global Supply
Management function.
Added Krol, “The selection of Kevin to succeed Rod next year reflects
the Board’s deliberate and focused succession plan. Kevin is a strong
leader who has extensive experience across multiple industries and a
track record of significant value creation. The Board believes Kevin is
the right leader to drive continued shareholder value.”
“I am humbled and honored to be selected to succeed Rod as Delphi’s next
CEO and president," said Clark. “Under his leadership, Delphi has
established a track record of strong execution for our customers and
creating value for our shareholders. We have the right management team,
the right strategy, and the right execution formula to build on our
accomplishments and drive continued success."
Clark, 52, joined Delphi as CFO, became senior vice president in 2012
and was named executive vice president in 2013. Clark began his career
in the automotive industry working in the finance departments of
Chrysler Corp. and Federal Mogul Corp.
Prior to his role as president of Praxair U.S. Industrial Gases, Murphy
was president, Praxair Surface Technologies and Electronic Materials. He
has also served as the CFO for MEMC Electronic Materials, Inc. (now
known as SunEdison), corporate controller of Praxair, and vice president
of finance of Praxair Asia, in Shanghai. He began his career in the
military serving as an infantry officer in the U.S. Marine Corps. He
received a MBA from Harvard University and a bachelor’s degree in
business administration from Marquette University.
“Mark brings outstanding expertise to Delphi,” O’Neal said. “He has a
broad range of financial and operating experience in senior management
positions with large and complex global companies. We welcome him to our
leadership team.”
About Delphi
Delphi Automotive PLC (NYSE: DLPH) is a leading global supplier of
technologies for the automotive and commercial vehicle markets.
Headquartered in Gillingham, U.K., Delphi operates major technical
centers, manufacturing sites and customer support services in 32
countries, with regional headquarters in Bascharage, Luxembourg; Sao
Paulo, Brazil; Shanghai, China and Troy, Michigan, U.S. Delphi delivers
innovation for the real world with technologies that make cars and
trucks smarter and safer as well as more powerful and efficient. Visit www.delphi.com.
Forward-Looking Statements
This press release, as well as other statements made by Delphi
Automotive PLC (the “Company”), contain forward-looking statements that
reflect, when made, the Company's current views with respect to current
events and financial performance. Such forward-looking statements are
subject to many risks, uncertainties and factors relating to the
Company's operations and business environment, which may cause the
actual results of the Company to be materially different from any future
results. All statements that address future operating, financial or
business performance or the Company's strategies or expectations are
forward-looking statements. Factors that could cause actual results to
differ materially from these forward-looking statements are discussed
under the captions “Risk Factors” and “Management's Discussion and
Analysis of Financial Condition and Results of Operations” in the
Company's filings with the Securities and Exchange Commission. New risks
and uncertainties arise from time to time, and it is impossible for us
to predict these events or how they may affect the Company. It should be
remembered that the price of the ordinary shares and any income from
them can go down as well as up. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events and/or otherwise, except
as may be required by law.
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