Cadence Innovation Names New CFO

STERLING HEIGHTS, Mich., March 9 -- The appointment of Kevin P. Grady as Chief Financial Officer at Cadence Innovation LLC was announced here today by Jerry L. Mosingo, President and Chief Executive Officer.

"Kevin Grady is a unique addition to our Leadership Team here at Cadence Innovation. His experience is sure to help us drive our business into a truly global environment," Mosingo said.

In 2004 and 2005, Grady served as a consultant providing leadership to a host of clients on a variety of issues, including Sarbanes-Oxley Section 404 implementation and systems/workflow process improvement consulting. From 2000 to 2004, he was Executive Vice President and Chief Financial Officer for Mando Corporation in Seoul, Korea. Kevin's responsibilities included leading all control and treasury activities of the $1.4 billion organization. Mando is a Tier One automotive components supplier that produces brakes, steering and suspension systems for global OEM's including Hyundai, General Motors, DaimlerChrysler and Kia. At Mando, he was also responsible for innovations such as the implementation of a comprehensive currency hedging program including the first use of RMB/KRW forward contracts.

"Kevin's breadth of experience is outstanding. He brings a broad range of financial, operations and international experience to our team. It is pretty rare to find a CFO with rich financial experience, an understanding of the Tier One automotive supply business, operations experience including manufacturing, and resident experience in Asia/Pacific," Mosingo said.

Prior to Mando, Grady held a series of executive positions across finance, accounting, IT, customer service, quality, inventory, logistics and manufacturing for the PacRim region at Millpore Corporation. He served as Director of Millpore's operations in Seoul from 1999 to 2001 and Hong Kong from 1997 to 1999. Grady also served as Director of Internal Audit at Millpore Corporation from l994 to l996, and Controller of Millpore's North American Manufacturing Operations from 1987 to 1993. Millpore, headquartered in Bedford, MA, is an $800 million global leader in the purification industry for pharmaceuticals, life sciences and semiconductors.

From 1984 to 1987, Grady was an Audit Supervisor of the high technology industry practice for Coopers & Lybrand LLP and was a Corporate Accountant with the Bank of Boston from 1981 to 1984.

A native of Boston MA, Grady is a Certified Public Accountant and holds a Bachelor of Art's degree in accounting from Michigan State University.

Cadence Innovation is a $1 billion automotive supplier offering design, engineering, manufacturing, and assembly/sequencing solutions for interior and exterior components, systems and modules in four areas -- instrument panels and cockpits, painted exteriors (including modules), doors/door modules and cargo management systems. The company has over 6,000 employees in 26 facilities in the United States, France and the Czech Republic and supplies its components and modules to automotive manufacturers around the world.