home · filing · 0000908255-24-000046
8-K filed November 7, 2024, 6:59 PM ET
ticker BWA
CIK 0000908255
leadership
confidence high
sentiment neutral
materiality 0.65
BorgWarner announces CEO succession: Joseph Fadool to succeed Frederic Lissalde effective Feb 6, 2025
BORGWARNER INC
Frederic Lissalde to retire as President & CEO and from the Board on Feb 6, 2025; will serve as consultant through Aug 30, 2025.
Joseph Fadool, current COO, appointed President & CEO and to the Board effective Feb 6, 2025.
Fadool's base salary set at $1.25M; target bonus of $1.875M (150%); LTI target of $8.125M (650%); 59,760 additional performance shares.
Board declared a quarterly cash dividend of $0.11 per share, payable Dec 16, 2024 to holders of record Dec 2, 2024.
Transition period: Lissalde's base salary reduced to 67% of prior rate; no new MIP participation but eligible for pro-rata 2025 MIP.
Executive movements
Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements .
Effective 2025-02-06
Successor Joseph F. Fadool
Filed November 7, 2024, 6:59 PM ET
Mr. Lissalde has delivered his resignation as a member of the Board
Effective 2025-02-06
Filed November 7, 2024, 6:59 PM ET
Joseph F. Fadool, currently the Company’s Executive Vice President of BorgWarner Inc. and Chief Operating Officer, has been appointed to succeed him as President and Chief Executive Officer.
Effective 2025-02-06
Successor Joseph F. Fadool
Filed November 7, 2024, 6:59 PM ET
Frederic B. Lissalde, the President and Chief Executive Officer of the Company, will retire
Effective 2025-02-06
Filed November 7, 2024, 6:59 PM ET
the Board has acted to appoint Mr. Fadool to the Board to fill the resulting vacancy
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
Frederic B. Lissalde departed as Member of the Board of Directors at BORGWARNER INC.
Action resign
Role Member of the Board of Directors
Exact text from the filing
Mr. Lissalde has delivered his resignation as a member of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Joseph F. Fadool was appointed as President and Chief Executive Officer at BORGWARNER INC.
Action appointed
Role President and Chief Executive Officer
Exact text from the filing
Joseph F. Fadool, currently the Company’s Executive Vice President of BorgWarner Inc. and Chief Operating Officer, has been appointed to succeed him as President and Chief Executive Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Frederic B. Lissalde departed as President and Chief Executive Officer at BORGWARNER INC.
Action retire
Role President and Chief Executive Officer
Exact text from the filing
Frederic B. Lissalde, the President and Chief Executive Officer of the Company, will retire
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Joseph F. Fadool was appointed as Member of the Board of Directors at BORGWARNER INC.
Action appointed
Role Member of the Board of Directors
Exact text from the filing
the Board has acted to appoint Mr. Fadool to the Board to fill the resulting vacancy
View on SEC.gov
Source: SEC EDGAR
accession 0000908255-24-000046
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