News
Movers and Shakers
Delphi Automotive CEO O’Neal to retire next year
By The Associated Press
By The Associated Press
Auto parts maker Delphi Automotive says CEO Rodney O’Neal will retire on March 1 of next year.
The company says O’Neal will stay on as an adviser through 2015. Chief financial officer Kevin Clark will become chief operating officer October 1 and succeed O’Neal as CEO next year.
The 61-year-old O’Neal led Delphi through bankruptcy restructuring from 2005 to 2009, and supervised its return to the public stock markets in 2011. He recently appeared before a congressional subcommittee to explain Delphi’s role in manufacturing an ignition switch involved in a huge General Motors recall.
The company says the total value of Delphi’s stock has more than tripled to US$21 billion under O’Neal’s leadership.
Delhi is GM’s former parts-making unit. The automaker spun it off as a separate company in 1999.
Leave a Reply