TMD Friction CEO Stepping Down
July 09, 2012
TMD Friction CEO and board member Derek Whitworth has decided to pursue new opportunities outside the automotive supply industry and will be leaving the group.
TMD Friction announced that CEO and board member Derek Whitworth has decided to pursue new opportunities outside the automotive supply industry and will be leaving the group.
John Hudson, executive director and CFO, will succeed Whitworth effective July 19.
"Over the seven years as chief executive officer for TMD, we have successfully restored the group to its position as a leading automotive friction manufacturer and have ensured a good, long-term future for its employees," Whitworth says. "Having completed the sale of the business to Nisshinbo Holdings Inc. in November 2011, I now feel that the time is right to step down and explore new challenges outside of the TMD and Nisshinbo Groups. The board's decision to appoint John Hudson as my successor has my full support and I am confident that TMD has a good and successful future ahead."
Mal Hartland will succeed John Hudson as the group's chief financial officer. Hartland has been with TMD since 2001 and has held a number of senior roles within the finance department of TMD.