Gentherm Announces Departure of its Chief Financial Officer
Gentherm (NASDAQ:THRM), a leader in automotive thermal management and medical patient temperature management systems, announced the resignation of its CFO, Matteo Anversa, effective September 1, 2024. Anversa is leaving to become CFO at Logitech International after five and a half years with Gentherm. CEO Phil Eyler praised Anversa's contributions, including implementing the Fit-For-Growth strategy and executing the Alfmeier acquisition.
Anversa expressed gratitude for his time at Gentherm, highlighting achievements such as record revenues, expanded profitability, and significant new business wins. The company has initiated a CFO succession process led by the CEO and will provide updates as appropriate.
Gentherm (NASDAQ:THRM), leader nella gestione termica automobilistica e nei sistemi di gestione della temperatura dei pazienti, ha annunciato le dimissioni del suo CFO, Matteo Anversa, con effetto dal 1 settembre 2024. Anversa lascia per diventare CFO di Logitech International dopo cinque anni e mezzo trascorsi con Gentherm. Il CEO Phil Eyler ha elogiato i contributi di Anversa, inclusa l'implementazione della strategia Fit-For-Growth e l'esecuzione dell'acquisizione di Alfmeier.
Anversa ha espresso gratitudine per il suo tempo trascorso in Gentherm, evidenziando traguardi come entrate record, profitti ampliati e importanti nuove acquisizioni. L'azienda ha avviato un processo di successione per il CFO guidato dal CEO e fornirà aggiornamenti quando opportuno.
Gentherm (NASDAQ:THRM), líder en gestión térmica automotriz y sistemas de gestión de temperatura para pacientes médicos, anunció la renuncia de su CFO, Matteo Anversa, con efecto a partir del 1 de septiembre de 2024. Anversa se va para convertirse en CFO de Logitech International tras cinco años y medio en Gentherm. El CEO Phil Eyler elogió las contribuciones de Anversa, incluida la implementación de la estrategia Fit-For-Growth y la ejecución de la adquisición de Alfmeier.
Anversa expresó su agradecimiento por su tiempo en Gentherm, destacando logros como ingresos récord, mayor rentabilidad y significativas nuevas adquisiciones de negocios. La empresa ha iniciado un proceso de sucesión para el CFO dirigido por el CEO y proporcionará actualizaciones de ser necesario.
Gentherm (NASDAQ:THRM)은 자동차 열 관리 및 의료 환자 온도 관리 시스템의 선두주자로서 CFO 매토 안베르사가 2024년 9월 1일부로 사임한다고 발표했습니다. 안베르사는 Gentherm에서 5년 반을 근무한 후 Logitech International의 CFO가 되기 위해 떠납니다. CEO 필 에일러는 안베르사의 기여를 칭찬하며 Fit-For-Growth 전략의 구현과 알프마이어 인수 실행을 포함했습니다.
안베르사는 Gentherm에서의 시간에 대해 감사의 뜻을 전하며 기록적인 수익, 확대된 수익성 및 중요한 신규 비즈니스 성과와 같은 성과를 강조했습니다. 회사는 CEO가 이끄는 CFO 후임 절차를 시작했으며 적절할 경우 업데이트를 제공할 것입니다.
Gentherm (NASDAQ:THRM), leader dans la gestion thermique automobile et les systèmes de gestion de la température des patients médicaux, a annoncé la démission de son CFO, Matteo Anversa, à compter du 1er septembre 2024. Anversa quitte pour devenir CFO de Logitech International après cinq ans et demi chez Gentherm. Le PDG Phil Eyler a salué les contributions d'Anversa, y compris la mise en œuvre de la stratégie Fit-For-Growth et l'exécution de l'acquisition d'Alfmeier.
Anversa a exprimé sa gratitude pour son temps passé chez Gentherm, mettant en avant des réalisations telles que des revenus records, une rentabilité accrue et des gains commerciaux importants. L'entreprise a lancé un processus de succession pour le CFO dirigé par le PDG et fournira des mises à jour si nécessaire.
Gentherm (NASDAQ:THRM), ein Führer im Automobilthermomanagement und in der Patienten-Temperaturmanagementsysteme, gab den Rücktritt seines CFO, Matteo Anversa, mit Wirkung zum 1. September 2024 bekannt. Anversa verlässt das Unternehmen, um CFO bei Logitech International zu werden, nach fünfeinhalb Jahren bei Gentherm. CEO Phil Eyler lobte Anversas Beiträge, einschließlich der Umsetzung der Fit-For-Growth-Strategie und der Ausführung der Alfmeier-Akquisition.
Anversa drückte seine Dankbarkeit für seine Zeit bei Gentherm aus und hob Erfolge wie Rekordumsätze, gesteigerte Rentabilität und bedeutende neue Geschäftsabschlüsse hervor. Das Unternehmen hat einen Nachfolgeprozess für den CFO initiiert, der vom CEO geleitet wird, und wird bei Bedarf Aktualisierungen bereitstellen.
- Record revenues achieved during Anversa's tenure
- Expanded profitability reported
- Significant new business wins secured, contributing to future topline growth
- Successful execution of the Alfmeier acquisition
- Departure of key executive (CFO) may cause short-term leadership gap
- Potential disruption in financial strategy and operations during transition
Insights
The departure of Gentherm's CFO, Matteo Anversa, is a significant event but not necessarily a cause for immediate concern. Anversa's move to Logitech International suggests he's leaving for a career advancement opportunity rather than due to internal issues. His positive statements about Gentherm's financial performance, including record revenues and expanded profitability, are encouraging signs for investors.
However, the timing of the transition (less than a month's notice) could pose short-term challenges. The company's initiation of a CFO succession process is important and investors should closely monitor this transition. The continuity of financial strategies and the depth of the existing finance team will be key factors in maintaining stability during this change.
The departure of a CFO is always a critical event in terms of corporate governance. Gentherm's prompt disclosure and the positive tone of the announcement demonstrate good transparency. The company's immediate initiation of a succession process, led by the CEO, indicates a proactive approach to leadership transition.
Investors should pay attention to the selection criteria for the new CFO and how smoothly the transition occurs. The new CFO's background and alignment with Gentherm's strategic goals will be crucial. Additionally, the retention of key finance team members during this transition will be important for maintaining continuity and preserving institutional knowledge.
NORTHVILLE, Mich., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), the global market leader of innovative thermal management and pneumatic comfort technologies for the automotive industry and a leader in medical patient temperature management systems, today announced that its Executive Vice President, Chief Financial Officer and Treasurer, Matteo Anversa, has resigned effective September 1, 2024 to accept the role of Chief Financial Officer of Logitech International.
“On behalf of our employees, our leadership team and our Board of Directors, I want to thank Matteo for his significant contributions to Gentherm over the past five and one-half years. Having him as my partner to drive change in our organization, help design and implement our Fit-For-Growth strategy, execute the highly successful Alfmeier acquisition and to grow and steward our skilled finance and IT organization has been of extraordinary value to me and to the company. While we will deeply miss him, we understand that the opportunity presented to him is exceptional and we support him in the further growth of his career,” said Phil Eyler, Gentherm’s President and Chief Executive Officer.
Matteo Anversa, CFO said, “I am truly honored to have had this opportunity to work with the Gentherm team and lead and develop the outstanding Finance and IT teams at Gentherm. Together, we have accomplished record revenues, expanded profitability and achieved extraordinary new business wins that will contribute to topline growth for years to come. I depart knowing that our company and our shareholders are in good hands with the deep and talented global Finance and IT teams at Gentherm.”
The company has initiated a CFO succession process, chaired by the President and CEO, and will provide updates as appropriate.
Investor Contact
Gregory Blanchette
investors@gentherm.com
248.308.1702
Media Contact
Melissa Fischer
media@gentherm.com
248.289.9702
About Gentherm
Gentherm (NASDAQ: THRM) is the global market leader of innovative thermal management and pneumatic comfort technologies for the automotive industry and a leader in medical patient temperature management systems. Automotive products include variable temperature Climate Control Seats, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery performance solutions, cable systems, lumbar and massage comfort solutions, valve system technologies, and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has more than 14,000 employees in facilities in the United States, Germany, China, Czech Republic, Hungary, Japan, Malta, Mexico, Morocco, North Macedonia, South Korea, United Kingdom, Ukraine, and Vietnam. For more information, go to www.gentherm.com.
FAQ
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