Tinnerman Palnut Engineered Products, Inc. Names Joseph R. Ponteri as President and Chief Executive Officer
James E. Finley, former CEO, will continue to serve on company's board of directors in an advisory role
BRUNSWICK, Ohio, Oct. 2 -- Officials at Tinnerman Palnut Engineered Products, Inc. today announced the appointment of Joseph R. Ponteri, 62, as the company's new President & Chief Executive Officer. The change is effective immediately.
A veteran of the automotive industry, Ponteri has been serving on the board of directors of the company, and will continue to do so in his new position.
Ponteri has extensive experience in the automotive and transportation industries, managing and serving on a number of boards of several U.S. and foreign-based companies. Ponteri has served as managing director at TMB Industries for the past 15 years, a Chicago-based private equity firm. He formerly served as president and chief executive officer of Global Metal Technologies, one of the largest producers of aluminum die castings in North America; as a board member of Rhythm Corporation, Nissan's sole, global supplier of chassis components; and as chairman, president and chief executive officer of Metalforming Technologies, Inc., an automotive component and sub-assemblies manufacturer.
"Mr. Ponteri is a great asset to our company and its stakeholders, and his exceptional experience and proven track record were compelling factors in his appointment as our new leader," said David Kaplan, chairman of the board for Tinnerman Palnut Engineered Products, Inc., and senior partner at Los Angeles-based Ares Management.
"I am excited to join the team at Tinnerman Palnut, a company that has a strong reputation, a unique value proposition and broad manufacturing capabilities," said Ponteri. "This is a great opportunity to leverage such strengths for ongoing growth and success in the challenging environment of the auto and commercial products industries."
Ponteri was appointed today after the board of directors of Tinnerman Palnut Engineered Products accepted the resignation of James E. Finley. Finley will continue to serve as a member of the company's board of directors.
"I have enjoyed my involvement with the talented employees at Tinnerman, who have helped the firm to thrive," said Finley. "For the future, I look forward to serving on the company's board, and working closely with Tinnerman's leadership team."
About Tinnerman Palnut:
Tinnerman Palnut Engineered Products is a world leader in the design, production and supply of sophisticated engineered spring steel fasteners, precision stampings, plastic components, and related assemblies to automotive and industrial original equipment manufacturers. The company's major customers include Chrysler Group, Mercedes Benz, Toyota, Ford, General Motors, Nissan, Honda, John Deere, Johnson Controls, Lear, GE, American Buildings Company and Mattel. With headquarters in Brunswick, Ohio, the company has been in operation since 1870 and today has sales and engineering offices in Southfield, Michigan; Chard, England; and Tokyo, Japan. Manufacturing operations are currently located in Ohio, Kentucky, New Jersey, Indiana, and Ontario, Canada. Additional information on Tinnerman is available at: www.tinnermanpalnut.com.
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