Delphi Automotive PLC chief executive officer and president Rodney O’Neal, announced plans to retire March 1, 2015, following a distinguished 43-year career. Effective Oct. 1, 2014, Kevin P. Clark, Delphi chief financial officer and...
Delphi Automotive PLC chief executive officer and president Rodney O’Neal, announced plans to retire March 1, 2015, following a distinguished 43-year career. Effective Oct. 1, 2014, Kevin P. Clark, Delphi chief financial officer and executive vice-president, is named chief operating officer and will succeed O’Neal as CEO and president upon his retirement next year.
O’Neal, 61, will stay on in an advisory role until the end of 2015. Mark J. Murphy, formerly president, U.S. Industrial Gases, Praxair, Inc., is appointed CFO and executive vice president, succeeding Clark, also effective Oct. 1, 2014.
Jack Krol, Delphi’s chairman of the board stated, “Rodney O’Neal has been an exceptional CEO in guiding Delphi’s transformation and positioning it as an industry leader. After successfully leading the company through its Chapter 11 restructuring, Rod took Delphi public with its IPO in 2011, generating significant shareholder value. With Rod at the helm, Delphi’s market capitalization has increased more than three-fold to $21 billion. We are extremely grateful for his invaluable contributions and look forward to his continued support in an advisory role.”
“Delphi’s strength, industry-leading portfolio, strong financials and talented leadership team all position it for continued future success,” said O’Neal. “Kevin has been a key leader in creating and implementing our business strategy, and I have every confidence he will continue to drive strong value creation. As for me, I’ve had over 40 demanding, eventful and amazing years. It’s time.”
In his role as COO, Clark will continue to report to O’Neal and will be responsible for all business segments, as well as the Global Supply Management function.
Added Krol, “The selection of Kevin to succeed Rod next year reflects the Board’s deliberate and focused succession plan. Kevin is a strong leader who has extensive experience across multiple industries and a track record of significant value creation. The Board believes Kevin is the right leader to drive continued shareholder value.”
“I am humbled and honored to be selected to succeed Rod as Delphi’s next CEO and president,” said Clark. “Under his leadership, Delphi has established a track record of strong execution for our customers and creating value for our shareholders. We have the right management team, the right strategy, and the right execution formula to build on our accomplishments and drive continued success.”
Clark, 52, joined Delphi as CFO, became senior vice president in 2012 and was named executive vice president in 2013. Clark began his career in the automotive industry working in the finance departments of Chrysler Corp. and Federal Mogul Corp.