14th
October 2009 -
TMD Appoints New Board of Directors
TMD Friction, the world's leading brake
friction manufacturer for the original equipment and replacement parts
markets, has formed a new board of directors, effective 11 September
2009. The new Chairman of the board of directors is Jorma Halonen, the
former Executive Vice President of AB Volvo and deputy CEO of Volvo
Group. Also, William Kozyra and Timothy Hemingway have been appointed as
non-executive board members. Together with the executive board members
Derek Whitworth, CEO & President of TMD Friction Group, John Hudson, CFO
of TMD Friction Group, as well as existing non-executive board members
Martin Schwab, Partner of Pamplona Capital Management, Michael Rosen,
Vice President of Pamplona Capital Management, and Raphaėl Poncelet,
chartered accountant, the new members will look after the on-going
business development and future success of the company.
Halonen has a strong track record in the
automotive industry. His career includes tenures at Saab, Scania, and
Volvo. Most recently, as Executive Vice President of AB Volvo and deputy
CEO of Volvo Group from 2004 to 2008 and prior as President and CEO for
Volvo Truck, he became well-known across global automotive and truck
markets. Today, he serves as a board member to leading companies and
organisations all over the world.
Derek Whitworth, CEO and president of TMD
Friction Group, said: "Jorma Halonen is a strong believer in quality
products and a great strategic thinker. I have no doubt that his insight
will be a great driver of the further development of TMD Friction."
Jorma Halonen is very confident about his
appointment as Chairman of the board of TMD Friction: "TMD Friction is a
major player in the global brake pad industry and possesses massive
potential beyond the automotive industry. I see it as my role to help
the company to further improve its cornerstone competence: Market
leadership and advanced technological know-how in friction material
applications."
William (Bill) Kozyra, a renowned leader
in the brake business, is the CEO of TI Automotive. Previously, he was
President and CEO of Continental in North America, a position he held
for about ten years. Timothy (Tim) Hemingway was President of SAF-HOLLAND
group's aftermarket business unit, from which he retired in October
2008, having joined the Holland Group in 1977 and holding a number of
leadership positions within Holland's international organisation.
"I am very honoured to work with such
experienced individuals, and I am confident that their wealth of
knowledge will help us to further the development of the Group. Their
experience and reputation will be of significant benefit to our
company," concluded Whitworth.
About TMD Friction [www.tmdfriction.com]
TMD Friction Group is the world's leading manufacturer of brake friction
materials in the original equipment and replacement parts markets for
passenger cars as well as commercial vehicles. Its product portfolio
comprises disc brake pads and drum brake linings for passenger cars and
commercial vehicles together with brake pads for racing cars and
friction materials for rail and industrial applications. With its Textar,
Pagid, Mintex, Don, Cobreq, and Cosid brands TMD Friction is one of the
largest suppliers to the global replacement parts aftermarket. With
operations in Germany and four other European countries, as well as the
US, Brazil, Mexico, China and Japan, TMD Friction generated turnover of
639 million in 2008. TMD Friction Group employs approximately 3,800
people worldwide
Source:
TMD Friction Press Release