GST AutoLeather, a specialist in automotive leather components, and its subsidiaries exited Chapter 11 bankruptcy on 22 May under new ownership.
To head the transition, GST named Randy Johnson president and CEO and also added two leather industry experts, Bryn Kahrl as vice president of global operations and Scott Landis as chief human resources officer.
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"We are committed to being the most competitive, innovative, and sought-after supplier to major OEMs worldwide, leveraging our strong customer service, a renewed focus on lean manufacturing and standardisation, and care for our employees as we instill a customer and operationally focused management culture," said Johnson.
Johnson replaced former CEO Dennis Hiller, who will stay on as a board advisor to assist in the transition. Johnson was most recently CEO of Romeo RIM, a Michigan-based composites manufacturer. Prior to that, he headed global operations at Eagle Ottawa for 12 years, leaving in 2014 before its sale to Lear.
GST is now majority owned by funds managed by Black Diamond Capital Management which has a track record of assisting companies in growing value by focusing on operational and commercial improvements through a disciplined long-term approach.
"We are looking forward to supporting GST's future efforts to build upon its strong global market share with a keen focus on providing top customer service while enhancing its operations," said Stephen Deckoff, managing principal of BDCM.
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By GlobalData"GST has exited bankruptcy with a strong balance sheet and ample liquidity, talented leaders globally, and a reputation as a high-quality leather designer and manufacturer," Johnson said, adding, "GST is among a small group of leather suppliers that can be considered truly global in nature."
