NORTHVILLE, Mich., June 28, 2017 /PRNewswire/ -- Gentherm
(NASDAQ-GS:THRM), the global market leader and developer of
innovative thermal management technologies, today announced that
Daniel R. Coker, President, CEO,
will retire and begin a planned leadership transition over the next
several months. Mr. Coker has agreed to continue serving in
his current position until the appointment of his successor.
The company's Board of Directors is presently engaged in a
comprehensive search process to select a successor. Both
internal and external candidates are under consideration.
"Under Dan's leadership, Gentherm grew from a start-up entity
with a new, innovative product into a multi-national organization
having almost a billion dollars in revenue," said Chairman
Francois Castaing. "The impact
Dan has had on the success of this company cannot be overstated.
Dan has built a talented management team and will leave the
company in excellent position to continue to grow. His hard
work, dedication and love for Gentherm and its employees have been
an integral part of the company's achievements."
Coker joined Gentherm in 1996 and has served as President and
CEO since 2003. Coker is also a current member of the
company's Board of Directors and will continue to serve in such
capacity.
About Gentherm
Gentherm (NASDAQ-GS: THRM) is a global
developer and marketer of innovative thermal management
technologies for a broad range of heating and cooling and
temperature control applications. Automotive products include
actively heated and cooled seat systems and cup holders, heated and
ventilated seat systems, thermal storage bins, heated automotive
interior systems (including heated seats, steering wheels, armrests
and other components), battery thermal management systems, cable
systems and other electronic devices. Non-automotive products
include remote power generation systems, heated and cooled
furniture, patient temperature management systems, industrial
environmental test chambers and related product testing services
and other consumer and industrial temperature control
applications. Gentherm has over twelve thousand employees in
facilities in the U.S., Germany,
Canada, China, Hungary, Japan, Korea, Macedonia, Malta, Mexico, Ukraine and Vietnam. For more
information, go to www.gentherm.com.
Except for historical information contained herein,
statements in this release are forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent the Company's goals, beliefs, plans and
expectations about its prospects for the future and other future
events. The forward-looking statements included in this press
release are made as of the date hereof or as of the date specified
and are based on management's current expectations and
beliefs. Such statements are subject to a number of
important assumptions, risks, uncertainties and other factors that
may cause the Company's actual performance to differ materially
from that described in or indicated by the forward looking
statements. Those risks include, but are not limited to: downturns
in the industries in which the Company operates and changes in
global, national, regional and/or local economic conditions and
geopolitical climates. The foregoing risks should be read in
conjunction with other cautionary statements included herein, as
well as in the Company's annual report on Form 10-K for the year
ended December 31, 2016 and subsequent reports filed with the
securities and Exchange Commission. Except as required by law, the
Company expressly disclaims any obligation or undertaking to update
any forward-looking statements to reflect any change in its
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
Investor Relations Contact
investors@gentherm.com
248-308-1702
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SOURCE Gentherm