BorgWarner Announces New Aftermarket Segment Spin-Off, CEO And CFO
BorgWarner—the American automotive supplier based in Auburn Hills, Michigan—has announced its spin-off fuel system and aftermarket segment will be a separate, publicly traded company named “PHINIA Inc.”
PHINIA is designed to provide fuel systems, starters, alternators, and aftermarket distribution components among commercial vehicle, light vehicle, and aftermarket end markets. The proposed spin-off is expected to be completed in late 2023, subject to customary conditions.
In addition, Brady Ericson will serve as president and chief executive officer (CEO), while Chris Gropp will serve as executive vice president and chief financial officer (CFO).
“Brady and Chris are well-rounded and respected leaders at BorgWarner and in the industry. They each possess a breadth of knowledge and experience that will be required to guide PHINIA as an independent company and pursue its continued success,” said Frédéric B. Lissalde, president and CEO of BorgWarner.
Ericson began his career at BorgWarner in 2000 and has served as VP of BorgWarner and president and general manager of BorgWarner Fuel Systems and Aftermarket since March 2022.
Gropp began her career at BorgWarner in 2001, serving most recently as VP of Finance for Fuel Systems and Aftermarket since October 2020.
For more information, visit borgwarner.com.