International Automotive Components (IAC) Group has reshuffled its executive management including the appointment of a new chief financial officer, general counsel and the creation of chief technology officer and chief supply chain officer roles.
"These changes represent a new direction for IAC and are designed to better position the company to drive growth, align its structure with company goals and enhance its product portfolio," the interiors-focused supplier said in a statement.
Go deeper with GlobalData
The new executives are David Prystash, chief financial officer; Iwona Niec Villaire, executive vice president, general counsel and corporate secretary; David Pascoe, chief technology officer; and Kelly Bysouth, chief supply chain officer.
"These organisational changes will add additional expertise and depth to our leadership team that will strengthen the company's ability to adapt to market changes, more rapidly achieve our strategic objectives and capitalise on growth opportunities," said CEO Manfred Gingl.
"We are thrilled to welcome industry veterans of this calibre to IAC."
Prystash was a General Motors vice president and CFO of global product development, purchasing and supply chain and, as IACs's CFO reports to Gingl. He replaces Dennis Richardville, who is retiring after 16 years.
Prystash also was instrumental in negotiating the sale of Opel/Vauxhall to PSA and achieving US$6.5bn of cost reductions over a four year period, IAC said. He was previously GM's CFO of global manufacturing and labour relations. Before GM, he was CEO and CFO of various non-automotive companies after 24 years at Ford in various senior financial and operational posts including assignments in Asia and South America.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBefore joining IAC, Villaire spent three years as chief administrative officer and general counsel for Chassix. She was previously deputy general counsel and director of global compliance with Cooper-Standard Automotive and senior counsel with Federal-Mogul.
Pascoe takes on the newly created position of chief technology officer (CTO) after time at Magna International where he most recently was vice president of engineering, research and development (R&D).
He has also headed Magna's corporate engineering and R&D and was vice president of electric vehicle technology.
Bysouth brought 25 years automotive procurement and supply chain experience to IAC for the newly created role of chief supply chain officer (CSCO).
She was previously with Adient, where she headed global procurement and supply chain and was credited with building the first centralised supply chain function within the organisation and achieving benchmark year on year cost savings.
More on International Automotive Components Group (IAC) in our QUBE database (subscription required)
