Kevin Mahony has resigned from his position on Garrett Motion's Board of Directors.
His resignation follows Centerbridge's divestiture of a significant portion of its ownership stake in Garrett.
During his tenure, Mahony played a key role in Garrett's strategic framework for long-term success.
Resignation
Kevin Mahony, appointed by Centerbridge Partners, resigns from Garrett's Board of Directors.
Ownership Stake
Centerbridge has divested a significant portion of its ownership stake in Garrett, holding less than 5% of common stock.
Acknowledgement
Board Chairman Daniel Ninivaggi thanks Mahony for his valuable contributions and collaboration.
Strategic Framework
Mahony expresses confidence in Garrett's future path based on the strategic framework developed during his tenure.
- Kevin Mahony's resignation marks a shift in Garrett Motion's board composition and strategic direction.
- Centerbridge's divestiture indicates a change in ownership dynamics within Garrett Motion.
- The Company aims to continue its success trajectory with a strong team and clear priorities post-Mahony's resignation.
Garrett Motion faces a transition in its board leadership following Kevin Mahony's resignation. The Company reaffirms its commitment to innovation and long-term success.