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Delphi Renames Electronics/Safety Business Aptiv
When Delphi Automotive plc spins off its Powertrain Systems unit next year, it will rename its remaining business Aptiv.
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When Delphi Automotive plc spins off its Powertrain Systems unit next year, it will rename its remaining business Aptiv.
The company will hold a special meeting of shareholders on Nov. 7 to approve the names. The U.K.-based supplier aims to complete the tax-free transaction by March 2018.
Aptiv will be comprised of Delphi’s current Electronics & Safety and Electrical/Electronic Architecture businesses, which accounted for $12.2 billion of the supplier’s $16.7 billion of sales last year. Delphi president and CEO Kevin Clark will head Aptiv.
Delphi says the Aptiv name reflects knowledge, adaptiveness and drive. The company will focus on accelerating the commercialization of active safety, autonomous driving, enhanced user experiences and connected services, providing the software, advanced computing platforms and networking architecture.
Liam Butterworth, who will become CEO of Delphi following completion of the spin, currently is senior vice president and president of Powertrain.
Following completion of the spin-off, Aptiv will be traded under the symbol “APTV” and Delphi Technologies will be abbreviated as “DLPH.”
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