The BorgWarner Board of Directors announced the appointment of Frederic Lissalde to president and chief executive officer effective August 1, 2018, at which time he will also join the Board of Directors.
Effective on the same date, James R. Verrier will step down from the president and chief executive officer role and serve in a non-executive advisory role to the Board of Directors and CEO to support a successful transition until he retires from the company February 28, 2019.
Lissalde currently serves as executive vice president and chief operating officer. Previous positions include president and general manager of BorgWarner Turbo Systems, the company’s largest business, vice president and general manager of BorgWarner Transmissions Systems and vice president of global sales and marketing of BorgWarner Drivetrain Systems. He also served as managing director of several operations in Europe for BorgWarner Drivetrain Systems. Lissalde holds a Masters of Engineering degree from ENSAM (Ecole Nationale Superieure des Arts et Metiers, Paris) and an MBA from HEC Paris.
“I am very proud of what the team has accomplished during my time as president and CEO, and truly believe the company is in an excellent position for continued success. I feel the current strength of the company is what makes this the right time to step down. Fred is a proven global leader who I have worked with for many years. I’m confident he will continue to lead this great company forward for years to come,” said James R. Verrier, President and CEO. “I would also like to take this opportunity to thank all the BorgWarner employees for making my BorgWarner career so very special, it’s been a wonderful journey.”