Changes are afoot at Dorman Products. The company announced its CEO succession plan, which will see Matt Barton retire at the end of the year and Kevin Olsen move into the role of chief executive officer and president.
Olsen, formerly the company’s chief financial officer and executive vice president, will take on the role Jan. 1, 2019. He has been with the company since June 2016, going from senior VP to executive one year later. Steven Berman will remain as Dorman’s executive chairman.
“I am excited to assume this new role and for the future of the company. We have an exceptionally talented team at Dorman that is committed to taking decisive actions to grow the business, innovate new products, and unlocking future opportunities,” he said in an announcement. “The future is bright for Dorman, and I look forward to building on the strong foundation that Matt and Steven have created.”
Barton, who joined the company in 1999 as its CFO said he was honoured to lead the company during his time and proud of the accomplishments they achieved.
“The board and I are confident that Kevin is the right person to build on our past success,” he added. “He is a seasoned and talented leader with significant experience managing large organizations and delivering value to shareholders. We are fortunate to have Kevin as our next CEO.”
Berman spoke kindly of Barton and thanked him for his contributions over the years.
“Matt has paved an excellent path for us to follow and we are grateful for his inspiring leadership. I know I speak for everyone at Dorman in thanking Matt for his tireless dedication to the company,” he said.
As for Olsen, Berman said he possesses a “customer-centric leadership style” and his expertise in management and understanding of the industry will help him build on Barton’s success.
“Kevin is focused on the future and helping the company to achieve its long-term strategic goals,” he added.
Dorman’s board of directors also appointed Michael Ginnetti, vice president, corporate controller, as the company’s interim CFO. He will serve in such position until a successor is named.