Marelli says Beda Bolzenius is to stand down as CEO and president and be succeeded by David Slump, a 30-year industry veteran, effective immediately.

“I want to thank Beda for his dedication and his commitment to Marelli during his tenure,” said Marelli executive chairman and KKR partner, Dinesh Paliwal.

“He has led this company through what has been an incredibly challenging period for the industry. He laid out and started implementing the vision for Marelli to grow its position through customer diversification, improving the cost competitiveness, investments into key technologies and growth into China.

“Marelli is a highly respected automotive brand and known for its leading positions in automotive lighting, sensing technologies [LiDar, Radar and Camera] and growing rapidly in vehicle electrification, powertrain, vehicle interior and electronics and software solutions.

“To take advantages of the opportunities ahead, Marelli must accelerate its innovation, customer focus and cost base. David is tenacious, collaborative and fast and he is the right person to take Marelli to the next level. He has deep experience in our industry and the regions we operate. David’s ability to think strategically, rapid decision-making and focus on execution is the right combination Marelli needs today.”

For his part, Bolzenius added: “After a great deal of personal deliberation, discussion with my family, and with the support and understanding of our chairman, Dinesh Paliwal, I decided it is the time for me to step down as CEO of Marelli. We covered a lot of ground in the last four years and I am very proud of what we achieved in bringing together Calsonic Kansei and Magneti Marelli to create a new, leading global supplier.”

Slump joins Marelli from Harman. During his 30-year career, he held senior roles in the automotive and energy sectors including General Electric, Landis + GYR and ABB. For nearly 15 years at Harman, Slump held leadership positions including president, Global Markets, responsible for the P&L of all Harman’s business in China, India, Japan, Korea, Russia and South and Central America.

“The industry continues to be impacted by severe structural challenges, but I believe that the opportunity for Marelli and its customers is enormous,” noted Slump.

“I will do everything to make all of our stakeholders proud as we continue to build and strengthen our company for the future. I believe strongly in the strategy already in place to make the company more cost competitive, more streamlined, more targeted towards the future of mobility and electrification.”

In addition, in a dual role at Harman, Slump led Software Services division globally. Prior to that, he was EVP, Operations, responsible for Procurement, Supply Chain Management, Quality and Manufacturing across Harman.

Previously, he turned around and grew Harman’s consumer audio sector into what is now a US$3bn business.

In his early years at the supplier, he led strategy and M&A.