- After about five years in the position
- Praise, thanks and good wishes for Del Grosso
- Jerome Dorlack taking over
- Del Grosso kept it short and said 57 words
(exechange) — Plymouth, Michigan, November 8, 2023 — Doug Del Grosso, chief executive of Adient, leaves his position. As announced by Adient Plc in a news release and in a regulatory filing published on Wednesday, November 8, 2023, Douglas G. (Doug) Del Grosso leaves his post as chief executive officer at the specialist in automotive seating, after about five years in the role, effective December 31, 2023.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Doug Del Grosso’s duties as CEO will be taken over by Jerome J. Dorlack, currently Chief Financial Officer at Adient Plc.
No reason given
In the announcement, Adient did not explicitly explain the reason for the move.
Precise information regarding Doug Del Grosso’s future plans was not immediately available.
“Retire”
Adient said: “Doug Del Grosso has elected to retire as president, chief executive officer (CEO) and a director of Adient’s Board of Directors, effective Dec. 31, 2023.”
Share price increase since November 2018
The announcement follows an increase in Adient Plc’s share price of 10% since November 2018.
In the position of CEO since 2018
Doug Del Grosso became CEO of the Company in 2018.
He has served as President and Chief Executive Officer of Adient since October 2018.
Del Grosso was the President and Chief Executive Officer of Chassix Holdings, Inc. (a supplier of chassis, brake and powertrain components) from 2016 to 2018.
He also served as President and Chief Executive Officer of Henniges Automotive, Inc. (a provider of sealing systems, anti-vibration components and encapsulated glass systems) from 2012 to 2015.
Del Grosso previously served as Vice President and General Manager of TRW Automotive (a supplier of automotive systems, modules and components) and, prior to that, as President and Chief Operating Officer of Lear Corporation (a manufacturer of automotive seating and electrical distribution systems).
Del Grosso has served as a director and member of the Audit Committee of Cabot Corporation since April 2020.
He previously served on the Board of Directors of Lincoln Educational Services Corporation from 2014 to 2015.
Del Grosso is also a trustee of the Conference Board, Committee for Economic Development, serving on the Globalization and Education committees.
57 words by Doug Del Grosso
In the release announcing his departure as CEO of Adient Plc, Doug Del Grosso received praise, thanks and good wishes.
In announcing his departure, Doug Del Grosso kept it short and said 57 words.
“Continue Adient’s long-term success”
Doug Del Grosso stated: “It has been an honor to work with the Adient team and lead this great company. I am truly proud of everything we have accomplished. Looking ahead, Jerome has a proven track record of success at Adient, having successfully led our Americas operations and served as CFO. He is the ideal leader to continue Adient’s long-term success.”
Push-out Score for Doug Del Grosso’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Doug Del Grosso was pushed out or felt pressure to leave his position.
exechange reached out to Adient and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2023 ($).