Accuride Corporation's Board of Directors Appoints Jason Luo Interim CEO

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Jan 07, 2019, 09:05 ET

EVANSVILLE, Ind., Jan. 7, 2019 /PRNewswire/ -- The Board of Directors of Accuride Corporation – a leading supplier of wheel end systems to the global commercial vehicle industry – today announced that it has appointed Jason Luo to serve as Interim President and Chief Executive Officer, effective immediately. Mr. Luo was formerly Chairman and Chief Executive Officer of Ford China and, prior to that, President and Chief Executive Officer of Key Safety Systems. Mr. Luo has been a director of Accuride Corporation since March 2018 and also serves as a Senior Advisor to Crestview Partners, the majority owner of Accuride Corporation. The appointment follows the Board's acceptance of Rick Dauch's resignation from his Accuride executive positions and as a director following his appointment as the new CEO of Delphi Technologies. The Board has begun a search to identify a permanent Chief Executive Officer for Accuride.

Thomas S. Murphy, Jr., Chairman of the Board of Directors of Accuride, stated, "Since our investment in Accuride in 2016, the company has embarked on a strategy to transform itself from a North American supplier into a global leader. Over the past two years, Accuride has more than doubled its revenues after completing two acquisitions which added substantial operations in Europe and Asia. We are excited to continue to execute on this strategy with Jason Luo as Interim CEO of the company. Crestview and Jason have worked together closely and successfully for over a decade and Accuride is fortunate to have such a talented and highly respected executive lead the company's outstanding team as we search for a permanent CEO."

Mr. Murphy continued, "We thank Rick for his contributions to Accuride and wish him well in his future endeavors."

Rick Dauch stated, "It has been my honor and privilege to lead this world-class team of talented and committed employees since 2011. Accuride today is well positioned to continue its strategic global expansion, and I have every confidence in its future success."

About Accuride Corporation
With world headquarters in Evansville, Ind., USA, Accuride Corporation is a leading supplier of wheel end systems to the global commercial vehicle industry. The company's products include steel and aluminum commercial vehicle wheels and wheel-end components and assemblies; and steel wheels for the European automotive and global agricultural, construction and industrial equipment markets. The company's products are marketed under its brand names, which include Accuride®, Accuride Wheel End Solutions™, Gunite®, KIC®, Kronprinz™ and Südrad™. Accuride is a portfolio company of Crestview Partners. For more information: www.AccurideCorp.com.

About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $9 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media, energy and financial services. For more information, please visit www.crestview.com.

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SOURCE Accuride Corporation