Dura's Leuliette named executive chairman of investor Patriarch
Tim Leuliette will oversee Dura and other Patriarch interests in his new role as managing director at the private equity firm.
Photo credit: JOE WILSSENS
DETROIT -- Supplier Dura Automotive Systems LLC announced a management shuffle today, naming CEO Tim Leuliette executive chairman of Dura, and managing director of Patriarch Partners LLC -- Dura's new majority shareholder.
The reorganization is part of Patriarch's consolidation of Dura with Global Automotive Systems Inc. and a handful of smaller companies to form a supplier able to generate $1.6 billion in annual revenue.
Patriarch, the New York-based private equity firm led by CEO Lynn Tilton, paid $125 million for a controlling interest in Dura last December.
“We believe that, together, these two companies create a launching pad for tremendous growth as long-term partners to the industry OEMs,” Tilton said in a statement. “The combined management teams provide a depth and breadth of talent that has exceeded all our expectations. We are excited to watch the platform flourish.”
Leuliette will oversee Dura and other Patriarch interests in his new role as managing director at the private equity firm.
At Dura, Leuliette will oversee the company's management.
Reporting to Leuliette will be CEO Torben von Staden, former CEO of Global Automotive Systems. Dura CFO Jeffrey Stafeil, Chief Administrative Officer Theresa Skotak and Jim Gregory, executive vice president of corporate development, also will report to Leuliette.
Reporting to von Staden will be Tom Chambers, COO and executive vice president; Francois Stouvenot, executive vice president of sales; Rob Deni, executive vice president of procurement and logistics; and Avinoam Heller, executive vice president of specialty products.
Dura, combined with Global Automotive Systems, designs and manufactures a variety of automotive components, including glass systems, door modules, throttle controls and shifters, seating control systems and other parts.
The company employs about 10,800 at 39 plants in 16 countries.
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