CPE News Brief (8.15.2022) – ABC Technologies Holdings Inc. (TSX: ABCT), a portfolio company of Apollo Global Management, Inc. and Oaktree Capital Management, L.P., has appointed Terry Campbell as the Company’s President & CEO, effective immediately following the mutual agreement for Todd Sheppelman to step down as President & CEO and as a director.
Campbell will be appointed to the board of directors.
Campbell joined ABC in June 2022 as EVP & Chief Operating Officer (COO). With over two decades of automotive experience, Campbell previously served as COO of The Woodbridge Group, a leading foam supplier to automotive and other industries, and has held business unit and operational leadership roles at Johnson Controls and Magna, among other leading industrial and manufacturing businesses.
Sheppelman appointed CEO of ABC in October 2017. Prior to that, Sheppelman served CEO of Air International Thermal Systems, Vice President of General Motors Customer Group, Director of Ford North American Powertrain for Visteon Corporation and Director of North American Sales and Chief Engineer Electrical for Europe at Delphi Automotive.
Sheppelman received total compensation of $10 million in 2021.
North York, Ontario based ABC Technologies Holdings is a leading manufacturer of custom, highly engineered technical plastics and lightweighting innovations to the global automotive industry.
Apollo and Oaktree Capital Management, through their affiliate funds, control 65.1% and 28.4% of ABC outstanding shares on non-diluted basis respectively.
photo credit: ABC Technologies Holdings Inc.
ABC Technologies Announces Leadership Succession
Terry Campbell appointed as CEO
August 16, 2022 07:00 AM Eastern Daylight Time
TORONTO–(BUSINESS WIRE)–ABC Technologies Holdings Inc. (TSX: ABCT) (“ABC Technologies”, “ABC” or the “Company”), a leading manufacturer of custom, highly engineered technical plastics and lightweighting innovations to the global automotive industry, today announced that its Board of Directors has appointed Terry Campbell as the Company’s President & Chief Executive Officer, effective immediately following the mutual agreement for Todd Sheppelman to step down as President & CEO and as a director of the Company.
Mr. Campbell joined the Company in 2022 as its Chief Operating Officer. With over two decades of automotive experience, he previously served as COO of The Woodbridge Group, a leading foam supplier to automotive and other industries, and has held business unit and operational leadership roles at Johnson Controls and Magna, among other leading industrial and manufacturing businesses. Mr. Campbell will be appointed to the Board of Directors of the Company.
“On behalf of the Board of Directors, I want to thank Todd for his leadership and unwavering commitment to our business and its customers,” said James R. Voss, Chairman of the Board of Directors of the Company. “Todd’s contributions to the Company have been immense. Todd has led the company since 2017 and, in the past 2 years, he successfully guided ABC through its initial public offering and the COVID-19 pandemic, and was instrumental in the Company’s recent acquisitions of dlhBOWLES, Inc. and Karl Etzel GmbH.”
“The Board of Directors is extremely confident in Terry’s leadership. We look forward to continuing to work with him in his new role,” added Voss.
Forward Looking Statements
This news release contains certain “forward-looking statements” concerning anticipated future events, results, circumstances, performance or expectations with respect to the Company and its operations, including its strategy and financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “intends”, “targets”, “projects”, “forecasts”, “schedule”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. The forward-looking statements contained in this news release include, but are not limited to, the appointment of Mr. Campbell as a director of the Company. Forward-looking statements are based on underlying assumptions and management’s beliefs, estimates and opinions, and are subject to inherent risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Some of the important risks and uncertainties that could affect forward-looking statements include, but are not limited to: operational, general economic, market and business conditions, regulatory developments and weather. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under the heading “Risk Factors” in the Company’s Annual Information Form dated June 30, 2021 and Management’s Discussion and Analysis for the three and six months ended December 31, 2021 which are available under the Company’s issuer profile on SEDAR at www.sedar.com. The Company cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About ABC Technologies
ABC Technologies is a leading manufacturer and supplier of custom, highly engineered, technical plastics and lightweighting innovations to the North American light vehicle industry, serving more than 25 original equipment manufacturer customers globally through a strategically located footprint. ABC Technologies’ integrated service offering includes manufacturing, design, engineering, material compounding, machine, tooling and equipment building that are supported by an experienced engineering team of approximately 600 skilled professionals and 6,150 employees worldwide. Figures represent ABC prior to the acquisitions of dlhBOWLES, Inc. and Karl Etzel GmbH. The Company offers six product groups: HVAC Systems, Interior Systems, Exterior Systems, Fluid Management, Air Induction Systems, and Flexible & Other.
Nathan Barton, Investor Relations