LAKE FOREST, Ill., July 10, 2020 /PRNewswire/ -- Tenneco Inc. (NYSE:
TEN) announced that its board of directors has appointed Mr.
Kevin Baird as chief operating
officer, effective August 3,
2020. In this role, Mr. Baird joins the executive leadership
team and will lead and support critical strategic and operations
initiatives that deliver margin expansion and cash generation
improvements.
"I am pleased to welcome Kevin to Tenneco and the addition of
his automotive industry, global operations management, and private
equity background to the deep experience and strength of our
executive leadership team," said Brian
Kesseler, Tenneco CEO. "He brings a proven track record of
delivering strong top and bottom line results, driving cash flow
and increasing return on invested capital."
Mr. Baird joins Tenneco from Guardian Industries, a wholly owned
subsidiary of Koch Industries, Inc., where he served since 2014 as
President and Chief Executive Officer of its Guardian Glass
business, a producer of high-performance glass for architectural,
transportation and technical applications. Mr. Baird joined
Guardian in 2008 as CEO of SRG Global, Inc., the company's
automotive trim business.
"Tenneco is a strong company, and I'm excited to join such a
talented and experienced leadership team," Baird said. "The
breadth of Tenneco's product and technologies, as well as its
global scale and portfolio of leading brands, is unique within the
automotive industry, and I'm looking forward to helping the company
capitalize on its outstanding opportunities for further profitable
growth and increased value for shareholders."
Before joining Guardian, Mr. Baird served on the operations team
of private equity firm Cerberus Capital Management, and prior to
that, as Chief Executive Officer and board member of Qualitor, an
automotive braking systems supplier. Baird began his career
at Federal-Mogul, where he spent more than 15 years in operations
and management positions of increasing responsibility, including
Vice President and general management roles in the Powertrain
Systems business.
"The reestablishment of the COO role brings further global
experience and support to our team's performance focus on margin
expansion and cash generation," added Kesseler. "Kevin's unique
background and skill set, including global hands-on experience in
some of our business segments, makes him an ideal business partner
and will enable him to quickly contribute to improved operating
results."
With effect on his date of appointment, Tenneco granted Mr.
Baird restricted stock units to replace certain compensation from
his former employer that will be foregone, as well as to serve as a
material inducement to his commencing employment with Tenneco in
accordance with NYSE Listing Company Manual Rule 303A.08. Mr.
Baird will receive two grants of restricted stock units. The
first restricted stock unit grant is comprised of 133,156 units,
one-half of which will vest on August 3,
2021 and the remaining one-half will vest on August 3, 2022. The second restricted stock
unit grant is comprised of 106,524 units, which will vest ratably
over a 3-year period.
Investor inquiries:
Linae
Golla
847-482-5162
lgolla@tenneco.com
Rich Kwas
248-849-1340
rich.kwas@tenneco.com
Media inquiries:
Bill
Dawson
847-482-5807
bdawson@tenneco.com
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SOURCE Tenneco Inc.