Nexteer Makes Richardson Its New President

Steering system supplier Nexteer Automotive Group Ltd. has named Michael Richardson to be its new president, effective Oct. 1. He will retain his previous title of executive board director.

Nexteer appointed Richardson, its global chief operating officer, as interim president two weeks ago. He succeeded Laurent Bresson, who is leaving on good terms to pursue other interests, according to the company.

Richardson’s former role as head of global strategy will go to Nexteer veteran Tao Liu, also effective Oct. 1. Liu currently is chief operating officer for the company’s Asia-Pacific unit.