Adient CEO Del Grosso to retire Dec 31; CFO Dorlack to succeed as CEO; Oswald named CFO

Adient plc

Doug Del Grosso retires as President and CEO and from the board effective Dec 31, 2023.
Jerome Dorlack, current EVP and CFO, becomes President, CEO and board member effective Jan 1, 2024; base salary $950,000; bonus target 155%.
Mark Oswald promoted to EVP and CFO effective Jan 1, 2024; base salary $600,000; bonus target 100%.
Dorlack receives FY2024 LTIP target of $7.25M prorated and a Replacement RSU Award equal to 30% of salary vesting in one year.
Oswald will enter a Key Executive Severance and Change of Control Agreement and standard indemnification agreements.

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

Mark A. Oswald

Executive Vice President and Chief Financial Officer

ADNT · Adient plc

Effective: 2024-01-01
Filed: November 8, 2023, 6:59 PM ET

Mark A. Oswald will become Executive Vice President and Chief Financial Officer, also effective January 1, 2024

Role change

Jerome J. Dorlack

President and Chief Executive Officer

ADNT · Adient plc

Effective: 2024-01-01
Filed: November 8, 2023, 6:59 PM ET

Jerome J. Dorlack, who has been serving as Adient’s Executive Vice President and Chief Financial Officer since 2022, will become President and Chief Executive Officer and be appointed as a director of Adient, effective as of January 1, 2024

Departed

Douglas G. Del Grosso

President and Chief Executive Officer

ADNT · Adient plc

Effective: 2023-12-31
Successor: Jerome J. Dorlack
Filed: November 8, 2023, 6:59 PM ET

Adient announced that Douglas G. Del Grosso will retire as its President and Chief Executive Officer and as a director of Adient, effective as of December 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark A. Oswald was appointed as Executive Vice President and Chief Financial Officer at Adient plc.

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

Exact text from the filing

Mark A. Oswald will become Executive Vice President and Chief Financial Officer, also effective January 1, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jerome J. Dorlack was appointed as President and Chief Executive Officer at Adient plc.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

Jerome J. Dorlack, who has been serving as Adient’s Executive Vice President and Chief Financial Officer since 2022, will become President and Chief Executive Officer and be appointed as a director of Adient, effective as of January 1, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Douglas G. Del Grosso departed as President and Chief Executive Officer at Adient plc.

Action: retire
Role: President and Chief Executive Officer

Exact text from the filing

Adient announced that Douglas G. Del Grosso will retire as its President and Chief Executive Officer and as a director of Adient, effective as of December 31, 2023.

View on SEC.gov

Adient plc filing history →

Source: SEC EDGAR

accession 0001670541-23-000148

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