LONDON: TI Fluid Systems plc announced that William L. Kozyra will retire as President and Chief Executive Officer and step down from the Board of Directors in the fourth quarter of this year.

Hans Dieltjens will take on the role of Chief Operating Officer effective 1 March 2021 as a transitional step towards becoming Chief Executive Officer and being appointed to the Board of Directors concurrent with Bill’s retirement. Hans holds a Master’s degree in Electro/Mechanical Engineering along with 25 years of automotive experience in Asia, Europe and the Americas.

Bill’s current employment agreement will be extended to ensure a proper handover with Hans. There are no matters which would require disclosure under Listing Rules 9.6.13R.

Manfred Wennemer, Chair of the Board of Directors commented: “Bill joined TI Fluid Systems in 2008 at the height of the global financial crisis and led the Company through that challenge to more than a decade of record performance. Bill was instrumental in bringing the Company public in 2017 and in developing and executing the Company’s electrification strategy to address the Hybrid & Battery Electric Vehicle market developments.

On behalf of the Board of Directors, I wish Bill all the best in his retirement and thank him for his 12 years of exemplary service. We’ve considered several high caliber automotive executives in addition to Hans Dieltjens for this position. I am pleased with the results of this activity which validated Hans’ strong credentials and credibility in the automotive space.”

TI Fluid Systems is a leading global manufacturer of fluid storage, carrying and delivery systems primarily for the light duty automotive market.

With nearly 100 years of automotive fluid systems experience, TI Fluid Systems has manufacturing facilities in 108 locations across 28 countries serving all major global OEMs.