BorgWarner CFO Kevin Nowlan to retire March 2024; Craig Aaron named successor

BORGWARNER INC

Kevin Nowlan will retire as EVP and CFO effective March 1, 2024; advisory role through April 1.
Craig D. Aaron, current VP and Controller, appointed EVP and CFO effective March 1, 2024.
Aaron's new comp: base salary $675K, target bonus $810K (120% of base), LTI $2.025M (300%).
Aaron eligible for up to 17,080 additional performance shares for 2023–2025 period.
Company to search for new Principal Accounting Officer to succeed Aaron.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Craig D. Aaron

Executive Vice President and Chief Financial Officer

BWA · BORGWARNER INC

Effective: 2024-03-01
Filed: December 5, 2023, 6:59 PM ET

On December 5, 2023, the Company announced the appointment of Craig D. Aaron, currently the Company’s Vice President and Controller, to the role of Executive Vice President and Chief Financial Officer, effective March 1, 2024, succeeding Mr. Nowlan in that role.

Departed

Kevin A. Nowlan

Executive Vice President and Chief Financial Officer

BWA · BORGWARNER INC

Effective: 2024-03-01
Successor: Craig D. Aaron
Filed: December 5, 2023, 6:59 PM ET

On November 30, 2023, Kevin A. Nowlan, Executive Vice President and Chief Financial Officer of BorgWarner Inc. (the “Company”), notified the Company of his intention to retire as Executive Vice President and Chief Financial Officer effective March 1, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Craig D. Aaron was appointed as Executive Vice President and Chief Financial Officer at BORGWARNER INC.

Action: appointed
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

On December 5, 2023, the Company announced the appointment of Craig D. Aaron, currently the Company’s Vice President and Controller, to the role of Executive Vice President and Chief Financial Officer, effective March 1, 2024, succeeding Mr. Nowlan in that role.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Kevin A. Nowlan departed as Executive Vice President and Chief Financial Officer at BORGWARNER INC.

Action: retire
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

On November 30, 2023, Kevin A. Nowlan, Executive Vice President and Chief Financial Officer of BorgWarner Inc. (the “Company”), notified the Company of his intention to retire as Executive Vice President and Chief Financial Officer effective March 1, 2024.

View on SEC.gov

BORGWARNER INC filing history →

Source: SEC EDGAR

accession 0000908255-23-000058

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