International Automotive Components Group (IAC) has named Natale (Nat) Rea president and interim chief executive officer (CEO), effective immediately. Robert (Steve) Miller is retiring after three years as president and CEO.

The Tier 1 supplier said Rea brings over 40 years of automotive supplier experience to IAC. Prior to becoming president of his investment firm, Rea Holdings, from 2012 to 2018, he was president of the automotive division at Martinrea International, one of the world's largest producers of lightweight cast aluminium engine blocks, transmission housings and structural components. Martinrea was formed in 2002 when Rea International merged with another supplier.

"We are thrilled to welcome Nat to IAC," said chairman Stephen Toy, the senior managing director and co-head of private equity investor and majority IAC shareholder, WL Ross.

"Nat's in-depth knowledge of the industry combined with his operational experience and proven track record of driving growth makes him an ideal addition to IAC's senior management team. We thank Miller for his significant contributions to IAC over the last three years, including the development of our long-range strategic plan, the establishment of our joint venture, Auria Solutions with Shanghai Shenda , as well as the successful recapitalisation of the company and wish him well in his future endeavours."

IAC is a global supplier of automotive components and systems, including instrument panels, console systems, door panels, headliners and overhead systems.

From QUBE (subscription required): International Automotive Components Group (IAC)