- Commercial Vehicle Group Inc (NASDAQ:CVGI) said Harold Bevis is resigning from his role as President and Chief Executive Officer and as a member of the Board of Directors effective May 19, 2023, to become chief executive officer of another company.
- Robert C. Griffin, the Chairman of the Board, is expected to be elected by the Board as the interim President and CEO, effective May 19, 2023.
- The company is in the process of conducting a comprehensive search for a permanent President and CEO.
- NN, Inc. (NASDAQ:NNBR) has tapped Harold Bevis as its President and Chief Executive Officer, effective May 22, 2023.
- CVGI also reaffirmed its commitment to its strategic goals and improvement in its results for 2023.
- Commercial Vehicle said it is on track to deliver its 2027 revenue target of $1.5 billion. The company plans to continue focusing on price, inflation management, and cost reduction as it works toward achieving a 9% EBITDA margin target by 2027.
- Price Action: CVGI shares are trading lower by 10.29% at $8.98 on the last check Tuesday.
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