Commercial Vehicle Group Looks For New CEO As Harold Bevis Resigns

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Share Price: $0.80

Min. Investment: $1,000

Valuation: $3.5B

Commercial Vehicle Group Inc 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. 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.