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4-Traders Homepage  >  Equities  >  Nyse  >  BorgWarner Inc.    BWA

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BorgWarner Inc. : BorgWarner Appoints Robin Adams Vice Chairman, Ronald Hundzinski Chief Financial Officer and James Verrier President and Chief Operating Officer

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03/27/2012 | 02:35pm CEST

AUBURN HILLS, Mich., March 27, 2012 /PRNewswire/ -- BorgWarner (NYSE: BWA) announced today the appointment of Ronald Hundzinski to Chief Financial Officer and James Verrier to the newly-created position of President and Chief Operating Officer, effective immediately. Robin Adams has been promoted to Vice Chairman of the Board of Directors and remains Executive Vice President and Chief Administrative Officer reporting to Tim Manganello, Chairman of the Board of Directors and Chief Executive Officer. Mr. Hundzinski will report to Mr. Adams and Mr. Verrier will report to Mr. Manganello.

Ronald Hundzinski, 53, has been with BorgWarner for nearly 10 years, most recently as Corporate Treasurer, and previously, Corporate Controller. His experience while in these senior corporate positions includes external reporting, internal controls, international and domestic tax planning, balance sheet oversight, cash management and investor relations. As Corporate Treasurer and Controller, Mr. Hundzinski has been a member of the company's Management Board and will remain so as Chief Financial Officer. He has extensive finance leadership experience at the operating level that includes overseeing capital allocation, managing customer and supplier issues, leading post-acquisition integration teams and executing restructuring activities. His most recent position within operations was Vice President of Finance BorgWarner Turbo Systems, the company's largest business unit. He holds a bachelor's degree in finance from Western Michigan University as well as an MBA from the University of Colorado. Mr. Hundzinski also holds a CPA designation.

"Ron has been a driving force behind our recent financial success," said Tim Manganello, Chairman and CEO of BorgWarner. "As Vice President of Finance of our Turbo Systems business unit, Ron was essential to its profitable growth. In his roles as Corporate Treasurer and Controller, he worked closely with Robin, therefore assuring a seamless transition. Ron is a tenacious leader and will undoubtedly be successful in his new role."

James Verrier, 49, has held positions of increasingly significant responsibility during his 22 years with the company. He served most recently as President and General Manager BorgWarner Morse TEC, and previously as Vice President and General Manager BorgWarner Turbo Systems, Passenger Car Products based in Germany. He will continue to be a member of the company's Management Board. His experience includes assignments in quality control, human resources and operations management. He holds a degree in Metallurgy and Materials Science from West Midlands College in the UK as well as an MBA from the University of Glamorgan, also in the UK. All business unit Presidents and the Corporate Vice President of Supply Chain Management will report to Mr. Verrier.

"James has delivered important operational improvements in every business he has led," said Manganello. "As the head of Morse TEC and previously Turbo Passenger Car Systems, James has successfully led vital segments of our business through crucial phases including rapid growth, an economic downturn, geographic expansion and the development and launch of game-changing technologies. James has been integral to our company's success and I view him as a critical component of the management team."

In his new role as Vice Chairman of the Board of Directors, Mr. Adams, 58, will continue to focus on financial matters while working closely with Mr. Hundzinski in his new role as Chief Financial Officer. In addition to providing a seamless transition, Mr. Adams will continue to provide input on the strategy and growth of the Company.

Manganello concluded, "Robin and I have the utmost confidence in Ron and James and are excited to work with them in their new positions. Technology leadership and financial discipline have been the cornerstones of our company's success, and will remain top priorities going forward. The BorgWarner team will continue to drive our company forward, building on the strong foundation and the strategies currently in place."

About BorgWarner

Auburn Hills, Michigan-based BorgWarner Inc. (NYSE: BWA) is a technology leader in highly engineered components and systems for powertrain applications worldwide. Operating manufacturing and technical facilities in 59 locations in 19 countries, the company develops products to improve fuel economy, reduce emissions and enhance performance. Customers include VW/Audi, Ford, Toyota, Renault/Nissan, General Motors, Hyundai/Kia, Daimler, Chrysler, Fiat, BMW, Honda, John Deere, PSA, and MAN. For more information, please visit www.borgwarner.com.

SOURCE BorgWarner Inc.

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