David possesses the leadership abilities to assure that the full benefits of our global restructuring translate into added value for our customers and channel partners.
Ann Arbor, MI (PRWEB) July 23, 2008
H. David Overbeeke, a former GE executive with extensive global business experience, has been named to the position of President, Global Brake & Chassis Group, for Affinia Group, reporting to Terry R. McCormack, Affinia's President and CEO.
"David's exceptional operations and manufacturing expertise will be of tremendous benefit as we continue with our transformation of Affinia into a market driven, customer centric organization," McCormack said. "David possesses the leadership abilities to assure that the full benefits of our global restructuring translate into added value for our customers and channel partners."
Overbeeke came to Affinia as part of a recent organizational realignment aimed at enhancing Affinia's efficiency while preserving or improving responsiveness to market changes. Overbeeke will have operational, sales and financial accountability for Affinia's global brake and chassis businesses.
A native of Toronto, Overbeeke graduated from the University of Waterloo with a Bachelor of Science degree in Mechanical Engineering. Joining GE after graduation, he completed the Metallurgical Management Program and joined the GE Corporate Audit Staff.
During his tenure at GE Overbeeke held diverse key positions both domestically and abroad,
including a stint as CIO for NBC Universal. He spent nine years at GE Aviation where he served as Manager of Finance for Global Aviation Services, then General Manager of Fleet Management Operations and finally as Executive Vice President with Digital Media. During his GE career, Overbeeke was responsible for numerous innovations including a maintenance-cost-per-hour services structure that is still prevalent in the aviation industry.
Just prior to joining Affinia, Overbeeke served as Operating Advisor for Oak Hill Capital Partners, a private equity firm with more than $6 billion of committed capital.
"David has a unique blend of experiences with complex industrial operations, financial discipline, information technology and globalization. He is exactly the right person to help fulfill our pledges of competitiveness and profitable growth to our channel partners and customers," McCormack said. "David and his leadership team will be focused on quality, innovation, data management and technology as critical elements in better serving all of our constituents in the marketplace."
Affinia Group Inc. is a global leader in the on- and off-highway replacement products and services industry. In North America the Affinia family of brands includes WIX® filters, Raybestos®, AIMCO® and Brake Pro® brake products, and McQuay-Norris® and Spicer® Chassis parts. South American and European brands include Nakata®, Filtron®, Urba® and Quinton Hazell®. For more information, visit http://www.affiniagroup.com.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements may include comments concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends and other information that is not historical. When used in this release, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, management's examination of historical operating trends and data are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there is no assurance that these expectations, beliefs and projections will be achieved. With respect to all forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this release. Such risks, uncertainties and other important factors include, among others: our substantial leverage; limitations on flexibility in operating our business contained in our debt agreements; pricing and import pressures; the shift in demand from premium to economy products; our dependence on our largest customers; changing distribution channels; increasing costs for manufactured components, raw materials, crude oil and energy prices; our ability to achieve cost savings from our restructuring; increased costs in imported products from China and other low cost sources; the consolidation of distributors; risks associated with our non-U.S. operations; product liability and customer warranty and recall claims; changes to environmental and automotive safety regulations; changes to anti-dumping duty rates; risk of impairment to intangibles and goodwill; risk of successful refinancing if required; non-performance by, or insolvency of, our suppliers or our customers; work stoppages or similar difficulties could significantly disrupt our operations, and other labor disputes; challenges to our intellectual property portfolio; and our exposure to a recession. Additionally, there may be other factors that could cause our actual results to differ materially from the forward-looking statements.