| 12:20 PM EST

Durrer Appointed CEO of Joyson Safety Systems


#people #Takata #ThyssenKrupp

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Joyson Safety Systems Inc., the new owner of Takata Corp.’s airbag operations, has named Guido Durrer as its CEO, effective immediately.

Durrer succeeds Jason Luo, who left the company last August. The company has been run on an interim basis by board members Yuxin Tang.

Durrer, already a member of Joyson Safety’s board, most recently was chairman and CEO of ThyssenKrupp-Presta AG, a steering systems supplier based in Liechtenstein. He assumes leadership of a newly created company that operates facilities in 23 countries, employs 50,000 people and generates $7 billion in annual sales.

Michigan-based Key Safety Systems Inc., which is owned by China’s Ningbo Joyson Electronic Corp., acquired the assets of bankrupt airbag maker Takata Corp. in April in a deal worth $1.6 billion. The combined company was renamed Joyson Safety Systems and relocated to Auburn Hills, Mich.