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Commercial Vehicle Group Announces New Executive Appointments to Accelerate Performance

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Commercial Vehicle Group (CVGI) announces two key executive appointments to strengthen its leadership team. Peter Lugo joins as President of Electrical Systems segment effective November 1, 2024, succeeding Richard Tajer. Carlos Jimenez joins as Executive Vice President, Global Operations and Supply Chain. Both will report to CEO James Ray.

Lugo, formerly at Southwire, will oversee the electrical business focusing on commercial, engineering, and product management strategies. Jimenez, previously at Kennametal, will manage manufacturing operations across CVG's 20+ global plants and develop supply chain strategies.

Commercial Vehicle Group (CVGI) annuncia due nomine esecutive chiave per rafforzare il proprio team di leadership. Peter Lugo si unisce come Presidente del segmento Sistemi Elettrici con effetto dal 1 novembre 2024, succedendo a Richard Tajer. Carlos Jimenez entra come Vice Presidente Esecutivo, Operazioni Globali e Catena di Fornitura. Entrambi riferiranno al CEO James Ray.

Lugo, precedentemente presso Southwire, supervisionerà il business elettrico concentrandosi su strategie commerciali, ingegneristiche e di gestione dei prodotti. Jimenez, in precedenza presso Kennametal, gestirà le operazioni di produzione nei 20+ stabilimenti globali di CVG e svilupperà strategie per la catena di fornitura.

Commercial Vehicle Group (CVGI) anuncia dos nombramientos ejecutivos clave para fortalecer su equipo de liderazgo. Peter Lugo se une como Presidente del segmento de Sistemas Eléctricos a partir del 1 de noviembre de 2024, sucediendo a Richard Tajer. Carlos Jimenez se incorporará como Vicepresidente Ejecutivo de Operaciones Globales y Cadena de Suministro. Ambos reportarán al CEO James Ray.

Lugo, anteriormente en Southwire, supervisará el negocio eléctrico centrado en estrategias comerciales, de ingeniería y de gestión de productos. Jimenez, previamente en Kennametal, gestionará las operaciones de fabricación en las más de 20 plantas globales de CVG y desarrollará estrategias de cadena de suministro.

상업용 차량 그룹 (CVGI)는 리더십 팀을 강화하기 위해 두 가지 주요 경영진 임명을 발표했습니다. 피터 루고는 2024년 11월 1일부터 전기 시스템 부문 사장으로 취임하며, 리차드 타저를 이어받습니다. 카를로스 히메네즈는 글로벌 운영 및 공급망 부문 부사장으로 합류합니다. 두 사람 모두 CEO 제임스 레이에 보고합니다.

루고는 이전에 사우스와이어에서 근무했으며, 상업적, 엔지니어링 및 제품 관리 전략에 중점을 두고 전기 사업을 감독합니다. 히메네즈는 이전에 케나메탈에서 근무하며, CVG의 20개 이상의 글로벌 공장에서 제조 운영을 관리하고 공급망 전략을 개발합니다.

Commercial Vehicle Group (CVGI) annonce deux nominations exécutives clés pour renforcer son équipe de direction. Peter Lugo rejoint en tant que président du segment Systèmes Électriques à compter du 1er novembre 2024, succédant à Richard Tajer. Carlos Jimenez rejoint en tant que vice-président exécutif, Opérations Globales et Chaîne d'Approvisionnement. Tous deux rendront compte au PDG James Ray.

Lugo, anciennement chez Southwire, supervisera l'activité électrique en se concentrant sur les stratégies commerciales, d'ingénierie et de gestion des produits. Jimenez, auparavant chez Kennametal, gérera les opérations de fabrication dans les plus de 20 usines mondiales de CVG et développera des stratégies pour la chaîne d'approvisionnement.

Commercial Vehicle Group (CVGI) kündigt zwei wichtige Ernennungen im Management an, um sein Führungsteam zu stärken. Peter Lugo tritt am 1. November 2024 als Präsident des Segments Elektrische Systeme ein und löst Richard Tajer ab. Carlos Jimenez wird als Executive Vice President für globale Operationen und Lieferkette tätig. Beide berichten an CEO James Ray.

Lugo, früher bei Southwire, wird das elektrische Geschäft überwachen und sich auf kommerzielle, technische und Produktmanagement-Strategien konzentrieren. Jimenez, zuvor bei Kennametal, wird die Fertigungsoperationen in den über 20 weltweit tätigen Werken von CVG leiten und Strategien für die Lieferkette entwickeln.

Positive
  • Strategic appointment of experienced executives with proven track records in relevant industries
  • Focus on improving operational execution and growing Electrical Systems business
  • Expansion of executive leadership team to address current business challenges
Negative
  • Acknowledgment of current year challenges requiring leadership changes
  • Transition period with outgoing Electrical Systems president until December 31, 2024

NEW ALBANY, Ohio, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Commercial Vehicle Group (the “Company” or “CVG”) (NASDAQ: CVGI), a diversified industrial products and services company, is pleased to announce the appointment of two leaders to its executive leadership team. Peter Lugo joins the Company as President of our Electrical Systems segment, effective November 1, 2024. Mr. Lugo succeeds Richard Tajer, who will remain an employee of the Company until December 31, 2024. In addition, Carlos Jimenez has joined as Executive Vice President, Global Operations and Supply Chain. These appointments support CVG’s goals of growing its Electrical Systems business and improving overall operational execution, respectively. Both executives will report to James Ray, President and Chief Executive Officer of CVG.

To reinvigorate growth in its Electrical Systems segment, Mr. Lugo is accountable for day-to-day oversight of the electrical business with emphasis on the development and execution of commercial, engineering, and product management strategies while partnering with the operations team to achieve operational and financial goals. He most recently held the role of Senior Vice President, Electrical Products & Engineered Solutions at Southwire, where he led the development and execution of the overall business strategy resulting in sustainable growth through organic and M&A activity, including five acquisitions. Prior to his work at Southwire, Mr. Lugo held progressive leadership roles at Bullard, Eaton Corp., Phillips Petroleum, Switchgear Systems, and General Electric. He holds a bachelor’s degree in electrical engineering from Polytechnical University of Puerto Rico.

To drive operational efficiencies across its manufacturing and supply network, Mr. Jimenez is responsible for the effective operation of the Company’s manufacturing function, developing and executing supply chain strategies and capabilities across CVG’s 20+ plant global manufacturing footprint. He most recently held the role of Vice President, Global Operations at Kennametal, Inc., where he was responsible for supply chain, operational excellence and distribution across 17 plants and 12 distribution centers. Prior to his work at Kennametal, Mr. Jimenez held progressive leadership roles at Stanley Black and Decker, Valeo Group, GKN Driveline, Mars Electronics International, Apisa and Ford Motor Company. He holds a bachelor’s degree in industrial engineering and a degree in business administration, management and operations from INSEAD.

“I extend my thanks to Rich Tajer for his leadership over the last five years. I am very pleased to welcome Peter and Carlos to the CVG executive leadership team, where they will have a critical role helping to position CVG for future success,” said Mr. Ray. “I am confident that these proven executives will accelerate our efforts to navigate some of the challenges we’ve experienced this year and emerge stronger and more resilient than before to best serve the needs of our customers and shareholders.”

About CVG

At CVG, we deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about CVG and its products is available at www.cvgrp.com.

Investor Relations Contact:Media Contact:
Ross Collins or Stephen PoePatrick Woolford
Alpha IR GroupDirector, Communications
CVGI@alpha-ir.com Patrick.Woolford@cvgrp.com 
  

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/fff38466-3a03-4f86-9c6e-c97313ba833d

https://www.globenewswire.com/NewsRoom/AttachmentNg/0157bba1-2dc4-4138-9956-17f038048965


FAQ

Who are the new executive appointments at Commercial Vehicle Group (CVGI)?

Peter Lugo is appointed as President of Electrical Systems segment and Carlos Jimenez as Executive Vice President, Global Operations and Supply Chain, effective November 1, 2024.

What is Peter Lugo's role at CVGI?

Peter Lugo will oversee the electrical business, focusing on commercial, engineering, and product management strategies while working with operations to achieve operational and financial goals.

What is Carlos Jimenez's responsibility at CVGI?

Carlos Jimenez will manage CVG's manufacturing operations and develop supply chain strategies across the company's 20+ global manufacturing plants.

Commercial Vehicle Group, Inc.

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