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Former GM Exec Henderson Named Interim CEO at Adient
Fritz Henderson, the General Motors Co. executive who succeeded Rick Wagoner as CEO in 2009, has been appointed interim CEO of Dublin-based vehicle interiors supplier Adient plc.
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Fritz Henderson, the General Motors Co. executive who succeeded Rick Wagoner as CEO in 2009, has been appointed interim CEO of Dublin-based vehicle interiors supplier Adient plc.
Detroit native Henderson, 59, replaces Bruce McDonald, 58, who resigned, effective immediately. McDonald’s job as chairman will be assumed by board director John Barth.
McDonald has led Adient since it was spun off from Johnson Controls Inc. in October 2016. The company reported a $1.5 billion loss that year and a net profit of $877 million in 2017. But Adient swung to a $168 million loss in the first quarter of 2018 as it struggled with more than $3 billion in debt.
Henderson has been an Adient board member since the company floated an initial public offering in late 2016. At GM, he headed the company’s Latin America and Asian operations before becoming chairman of GM Europe. He serviced as GM’s CEO before being replaced in 2010 by Ed Whitacre.
Chairman Barth says Henderson’s role will be to lead the company’s restructuring as Adient seeks a permanent CEO.
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