Tenneco Inc. (NYSE: TEN) today announced, as part of its ongoing Board refreshment process, the appointment of automotive industry veteran Charles “Chuck” K. Stevens III to its Board of Directors, effective today. Mr. Stevens’ appointment follows the Company’s January 27, 2020 announcement of its commitment to adding at least one new independent director over the course of 2020. The Company intends to continue this refreshment process throughout the year.
With this appointment, the Tenneco Board consists of 11 directors, nine of whom are independent and three of whom have been added since the beginning of 2019.
As the former Chief Financial Officer of General Motors, Mr. Stevens brings significant auto industry experience and expertise across finance and accounting operations, international financial matters and mergers and acquisitions.
“As Tenneco continues its ongoing commitment to add fresh perspectives to the Board, we are extremely pleased to welcome Chuck as an independent director,” said Gregg M. Sherrill, chairman of the Board of Directors. “Chuck brings more than 40 years of experience working at one of the world’s largest auto companies in a variety of roles of increasing responsibility, including CFO. We expect that his skills and expertise will be invaluable as we review strategic alternatives to maximize shareholder value while pursuing our separation plan. We look forward to benefitting from his contributions as we work to achieve our operational and financial objectives.”
“I am excited to join Tenneco during this important time in its history,” said Mr. Stevens. “Tenneco has two world-class businesses that are well-positioned to capitalize on industry trends, and I believe the Company is taking the right steps to achieve its objectives. I look forward to working with my fellow Board members as we continue to oversee management’s execution of Tenneco’s strategy and evaluate the best path forward for the Company to maximize value for all shareholders.”
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SOURCE: Tenneco
