Leading automotive supplier International Automotive Components (IAC) Group, has launched a major restructuring initiative, which will see the appointment of a new chief financial officer, general counsel and the creation of chief technology officer and chief supply chain officer roles.
The Luxembourg-based company announced the changes 8 Jan, saying they were designed to “better position” the company to drive growth.
“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 Manfred Gingl who was named the CEO last summer and who had just recently signalled imminent changes at the company.
As part of the rejig, David Prystash joins the company’s leadership team as chief financial officer (CFO) reporting to CEO Gingl. As CFO, Prystash will oversee the company’s global finance, treasury and accounting activities. He replaces Dennis Richardville, who is retiring from IAC after 16 years.
Prystash comes to IAC from General Motors (GM) where he was vice president and CFO of global product development, purchasing and supply chain.
Additionally, Iwona Niec Villaire has been named executive vice president, general counsel and corporate secretary. Villaire will be responsible for overseeing the company’s legal affairs on a global basis.
Before joining IAC, she was the chief administrative officer and general counsel for Chassix, Inc. where she helped develop and execute the company’s long-range strategic plan. Villaire worked with Cooper Standard Automotive prior to her move to Chassix.
David Pascoe has been appointed to the newly created position of chief technology officer (CTO). In this role, Pascoe will be responsible for expanding the company’s advanced technology portfolio and evolving its global product strategy. Pascoe comes from Magna International, where he most recently served as vice president of engineering, research and development (R&D).
Furthermore, Kelly Bysouth has recently joined the company as chief supply chain officer (CSCO). In this new role, she has global responsibility and operational control of procurement and supply chain activities.
Bysouth joined IAC from Adient, where she was vice president of global procurement and supply chain.
IAC employs about 22,000 people in 19 countries and manufactures interior door panels, instrument panels, headliners and consoles for the automotive industry.