Delphi Automotive PLC Chief Executive Officer and President Rodney O’Neal has announced plans to retire on March 1, 2015, following a distinguished 43-year career. Effective October 1, 2014, Kevin P. Clark, Delphi Chief Financial Officer and Executive Vice President, is named Chief Operating Officer and will succeed O’Neal as CEO and President.
O’Neal will stay on in an advisory role until the end of 2015. Mark J. Murphy, formerly President, U.S. Industrial Gases, Praxair, Inc., is appointed CFO and Executive Vice President, succeeding Clark, also effective October 1, 2014.
Jack Krol, Delphi Chairman of the Board, stated: “Rodney O’Neal has been an exceptional CEO in guiding Delphi’s transformation and positioning it as an industry leader. After successfully leading the company through its Chapter 11 restructuring, Rod took Delphi public with its IPO in 2011, generating significant shareholder value. With Rod at the helm, Delphi’s market capitalization has increased more than three-fold to $21 billion. We are extremely grateful for his invaluable contributions and look forward to his continued support in an advisory role.”
In his role as COO, Clark will continue to report to O’Neal and will be responsible for all business segments, as well as the Global Supply Management function.
“I am humbled and honored to be selected to succeed Rod as Delphi’s next CEO and President,” said Clark. “Under his leadership, Delphi has established a track record of strong execution for our customers and creating value for our shareholders. We have the right management team, the right strategy, and the right execution formula to build on our accomplishments and drive continued success.”