BorgWarner Promotes Verrier to CEO

BorgWarner Inc. has appointed James Verrier, its president and chief operating officer, to become CEO on Jan. 1.

Verrier will succeed Tim Manganello, who has led the maker of engine and drivetrain components for 10 years. Manganello will remain as executive chairman until he retires in April. Lead director Alexis Michas will then become non-executive chairman.

Under Manganello, Auburn Hills, Mich.-based BorgWarner has more than doubled its sales to about $7 billion, and its market capitalization has grown sixfold. Much of the company's growth has come from its expertise in such fuel-saving technologies as turbochargers and duel-clutch transmissions.

BorgWarner signaled its succession plan in March when it named Verrier to his current responsibilities. At the time he was president of the Morse TEC drivetrain and engine timing systems unit.

During his 23 years at the company, Verrier also has headed Turbo Systems, the company's largest business unit, and overseen its passenger car turbocharging operations in Germany.