The former boss of Ford will lead GUD Holdings

GUD, the Sydney-based diversified manufacturer lost a CEO yesterday, got a replacement and settled on a $ 20 million expansion in the aftermarket. The company announced yesterday that the CEO of the last five years, Jonathan Ling, had resigned from his position as CEO and would leave the Company at the end of September 2018.

The company paid tribute to Mr. Ling. , claiming that he had led "the transformation of the company from a diverse group of companies with many product lines and brands across a broad portfolio to a company focused primarily on automotive parts and products." Water, as well as the introduction of programs at the executive level. emphasis on safety, innovation and high performance. "

" Jonathan has indicated his broader and longer-term personal plans to the Board early in the year; give the Board the opportunity to hire an executive search firm to undertake extensive research to identify and select its successor from among a large number of potential internal and external candidates, "said the director [19659003]. Mr. Graeme Whickman as Chief Executive Officer and Chief Executive Officer effective October 1, 2018.

"Mr. Graeme is the former President and Chief Executive Officer of Ford Australia and New Zealand, ext. It has been in business since 2015. Ford Australia has annual revenues of about $ 4 billion and Graeme has driven Ford's transformation to a world-clbad marketing and sales organization catering to the desires of and the needs of Australian customers, "said the director.

He has held numerous executive positions in Australia, Asia-Pacific, Europe and North America, and has served on industry organizations here and overseas.

Mark Smith said in yesterday's statement "The Board is delighted with the appointment of Graeme." He has had an outstanding career at Ford, and is a qualified and capable successor to Jonathan Graeme is a world leader having a deep knowledge and understanding of the automotive industry and its customers, the challenges it faces and the opportunities it offers. "

Mr. Smith added," The Board thanks Jonathan Ling for his excellent contribution to GUD over the past five years and wishes him a successful retirement.The board welcomes Graeme Whickman and hopes for a successful transition and continued success in the company's business operations. "

Meanwhile, GUD said to have completed the acquisition of Disc Brakes Australia Pty Ltd. (DBA), the DBA company has a turnover annual business turnover of about 20 million dollars and gen era an annual EBIT of about 3 million dollars. The consideration for the acquisition is $ 20 million, with a net working capital adjustment at completion.

DBA will be part of the Ryco Group's GUD Automotive business and, in combination with the brands Ryco, Goss, Wesfil, Narva and Projecta, will be positioned as the leading independent supplier of disc brake rotors for the market of Australian after-sales.

GUD shares fell 1.5% to $ 13.95