International Automotive Components Group ("IAC"), a global automotive and mobility leader in lightweight and new-material interior solutions, today announced Manfred Gingl has been named chief executive officer (CEO) of International Automotive Components Group, effective immediately. President Natale "Nat" Rea, who served as interim CEO, will continue to serve as President.
"We are excited to have an executive as accomplished and respected as Manfred lead IAC and execute our strategic plans to grow the company," said IAC Group Chairman Stephen J. Toy, the senior managing director and co-head of WL Ross & Co. "He is a proven leader with more than 40 years of automotive supplier and aftermarket industry experience and global perspective that will be instrumental in moving our company forward in this rapidly evolving industry."
Gingl brings a wealth of leadership experience and operational expertise to IAC. While spending the last several years exploring disruptive mobility technology, his most recent experience in automotive was as CEO of Magna Aftermarket from 2008 to 2010, after having served as executive vice chairman of Magna International from 2002 to 2007. Prior to that, he served as president and CEO of Tesma International from 1992 to 2002, a company that was formed after he guided Magna's powertrain business through an initial public offering.
After immigrating to Canada from Austria in 1966, he began his career as a tool and die maker with Multimatic Inc., which was merged with Magna Electronics in 1968 to form Magna International. He held various positions with the company, including chief operating officer (COO) until 1988, when he was appointed CEO of Magna International, a position he held from 1988 to 1992. He is credited with successfully evolving Magna from a parts supplier to an automotive systems supplier.
"I am very excited to be back in the automotive industry and to take the helm of this global leader in interior systems and solutions," said Gingl. "I am eager to build upon IAC's growth and reputation for innovation and strong customer focus. It's an exciting time to be in this industry as the world moves toward autonomy and reimagines the future of mobility. IAC is embracing megatrends such as autonomy, ride sharing, connectivity and cleaner driving by developing exciting solutions that will meet the many demands of the cockpit of the future."
ABOUT IAC
Headquartered in Luxembourg, International Automotive Components (IAC) Group is a leading global supplier of automotive components and systems, including instrument panels, console systems, door panels, headliners and overhead systems to automakers around the world. The company's 2017 sales were $4.4 billion. IAC Group operates more than 50 manufacturing facilities in 16 countries. The company has more than 60 total locations in 19 countries, including 18 design, technical and commercial centers, and employs more than 22,000 people globally. For more information, visit www.iacgroup.com .
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