Auburn Hills, Mich., USA - November 16, 2012, Auburn Hills, Mich., USA - BorgWarner, an engineering company, announced the appointment of James R. Verrier as president, CEO and board memeber, effective January 1, 2013.
Article continues below
Mr. Verrier has been President and Chief Operating Officer of BorgWarner since March 27, 2012. He has been the President and General Manager of BorgWarner Morse TEC, a subsidiary of BorgWarner, and he also served as Vice President of BorgWarner. He served as Vice President and General Manager of Passenger Car at BorgWarner Turbo Systems and as Vice President and General Manager of BorgWarner Turbo Europ.
Mr. Verrier holds a degree in Metallurgy and Materials Science from West Midlands College in the UK as well as an MBA from the University of Glamorgan, also in the UK.
Effective on the same date, current chairman and chief executive officer, Timothy M. Manganello, will continue as executive chairman of the company until his planned retirement at the April 24, 2013 annual meeting, at which time he will step down from the Board.
Mr. Manganello has been chairman and chief executive officer of BorgWarner Inc. since June 2003. He began his career in the automotive industry in 1973. He was named to his current position in February 2003, after having served for one year as president and chief operating officer. Prior to holding the position of COO, he was executive vice president of the company and served as president and general manager of BorgWarner TorqTransfer Systems from January 1999 to 2002.
Before joining BorgWarner in 1989, Mr. Manganello held product engineering management positions at Chrysler Corporation from 1973 to 1981, and sales management positions at PT Components-Link Belt from 1981 to 1988. He holds a bachelor's degree and master's degree in mechanical engineering from the University of Michigan. He also completed the Advanced Management Program at Harvard Business School and is a graduate of the Chrysler Institute program.
Mr. Manganello is a member of the board of directors of Bemis Co., the Detroit Branch Chairman of the Federal Reserve Bank of Chicago, a member of the University of Michigan College of Engineering's National Advisory Committee; the chairman of the Executive Committee of the Board of Trustees for the Manufacturer's Alliance/MAPI; and is on the Governor's Board of the World Economic Forum.
The Board also announced that at the time of Mr. Manganello's retirement, the company’s lead director, Alexis P. Michas, will become non-executive chairman.
Mr. Michas has been Managing Partner of Juniper Investment Company since he founded the firm in 2008. Juniper is also a Principal of Aetolian Investors, LLC a registered Commodity Pool Operator. He has also been the Managing Partner and a director of Stonington Partners. Prior to that, he was a partner of Merrill Lynch Capital Partners, a wholly owned subsidiary of Merrill Lynch & Co., and Senior Vice President of MLCP. ■