Aluminum wheel supplier Superior Industries International has appointed a new chairman and two interim co-CEOs as it continues to search for a permanent replacement for retiring Chairman and CEO Steven Borick.
Margaret Dano, the company’s lead director, was named chairman, while executive vice presidents Michael O’Rourke, 53, and Kerry Shiba, 59, will serve as interim CEOs, the company said today.
Borick, 61, has been CEO since 2005 and a board member for 33 years. Borick’s retirement is effective March 31. He will remain a member of the board.
Louis Borick, Steven Borick’s father, founded Superior in 1957 as a maker of bug deflectors, overload springs and wheels. Superior got its big break in 1972 when it became the wheel supplier for the Ford Mustang, its first auto contract.
Superior ranks No. 66 on Automotive News’ list of the top 100 parts suppliers to North America, with an estimated $822 million in sales to automakers in its 2012 fiscal year.
The customer list for Superior, one of the largest manufacturers of aluminum wheels in North America, includes Ford, General Motors, Chrysler Group, BMW Group, Toyota Division and Tesla Motors.
Steven Borick said in a statement that he’s “retiring at a time when Superior is healthy and postured for long-term growth.” Borick said he wanted to have more time to pursue personal interests, including philanthropic activities.
Dano, 54, has been a Superior board member since January 2007 and its lead director since 2010. Prior to joining Superior, she held management positions at Honeywell International, Avery Dennison, Black and Decker and General Electric.
O’Rourke has been with the company since 1987, and was named executive vice president in 2008.
Shiba, Superior’s CFO, joined the company in 2010. He was later promoted to executive vice president in 2012.
Borick “has been instrumental in building a strong foundation for our company, one that will serve as a solid platform for the new leadership team,” Dano said in a statement. “I am pleased that Superior will continue to benefit from his guidance as a continuing member of our board.”