GDX Announces David Thursfield as Executive Chairman
FARMINGTON HILLS, Mich., Aug. 25, 2005 -- GDX Automotive today announced that David W. Thursfield, current Chairman of Cerberus Automotive Group, has taken on the additional responsibilities of Executive Chairman of GDX Automotive. Mr. Thursfield will also replace Morris C. Rowlett as Interim Chief Executive Officer. Mr. Rowlett remains as an advisor to the company through RESK Consulting, LLC, a management consulting firm he co-founded in 2000.
"I am excited about the opportunities at GDX as we integrate two recent acquisitions and drive a cost-competitive manufacturing base to serve our customers through superior engineering and operational excellence," said David Thursfield. Mr. Thursfield joined Cerberus Capital Management, L.P., after retiring from Ford Motor Company in May of 2004. Mr. Thursfield left Ford as Executive Vice President and President, International Operations and Global Purchasing. Previously at Ford he served as Chairman, CEO and President of Ford of Europe. Mr. Thursfield earned degrees in production engineering from Aston University in Birmingham, England and in industrial psychology from Brunel University.
Mr. Rowlett has advised Cerberus Capital Management on automotive and manufacturing-based acquisitions since 1998, including GDX Automotive, and continues in this role as a senior advisor to Cerberus portfolio companies.
GDX Automotive is a leading global supplier which designs, develops, markets and manufactures highly engineered sealing systems for both dynamic and static automotive applications. GDX's products include weather-strip seals, glass encapsulation, modular sealing systems and anti-vibration components. GDX global headquarters is in Farmington Hills, Michigan. Its European headquarters and technical center is in Grefrath, Germany. GDX has seven manufacturing sites in North America, nine plants in Europe, two joint ventures in China and employs approximately 7,500 people worldwide.
Headquartered in New York, Cerberus Capital Management, L.P. and its affiliated entities manage funds and accounts with capital in excess of $14 billion.