PARIS -- Longtime Valeo CEO Jacques Aschenbroich will step down from the post at the end of 2021, but will remain chairman, as the supplier moves to split the two positions.
Aschenbroich, 66, who was named CEO in 2009 and added the chairman title in 2016, will be succeeded in the chief executive role by COO Christophe Perillat, Valeo said Tuesday. Aschenbroich will remain chairman until May 2023.
Valeo said in 2019 when Aschenbroich was reappointed to a new term that it would separate the positions of chairman and CEO.
Aschenbroich was named an Automotive News Europe Eurostar in 2016.
Aschenbroich, who has an engineering degree from the School of Mines in Paris, held positions in the French government and with the glass maker Saint-Gobain Group before joining Valeo as CEO in 2009. He is a director at the bank BNP Paribas.
Perillat, 55, a graduate of the engineering university Ecole Polytechnique, worked in the aeronautics industry in France and the U.S. before joining Valeo in 2000. He held various management positions before being named COO in 2011.