Former GM Exec Henderson Named Interim CEO at Adient
Fritz Henderson, the General Motors Co. executive who succeeded Rick Wagoner as CEO in 2009, has been appointed interim CEO of Dublin-based vehicle interiors supplier Adient plc.
Detroit native Henderson, 59, replaces Bruce McDonald, 58, who resigned, effective immediately. McDonald’s job as chairman will be assumed by board director John Barth.
McDonald has led Adient since it was spun off from Johnson Controls Inc. in October 2016. The company reported a $1.5 billion loss that year and a net profit of $877 million in 2017. But Adient swung to a $168 million loss in the first quarter of 2018 as it struggled with more than $3 billion in debt.
Henderson has been an Adient board member since the company floated an initial public offering in late 2016. At GM, he headed the company’s Latin America and Asian operations before becoming chairman of GM Europe. He serviced as GM’s CEO before being replaced in 2010 by Ed Whitacre.
Chairman Barth says Henderson’s role will be to lead the company’s restructuring as Adient seeks a permanent CEO.
The Kia Stinger was a finalist for the 2018 North American International Car of the Year Awards.
Chrysler pioneered the modern-day minivan more than 30 years ago and has been refining and improving that type of vehicle ever since.
The mid-size 2005 Pathfinder, Nissan's largest design and development program to date, involved three technical centers, and took 36 months and countless trans-Pacific trips to complete. Though it borrows major components from the full-size Titan pickup and Armada SUV, it's not just a downsized clone.