NORTHVILLE, Mich., Oct. 24, 2013 /PRNewswire/ -- Gentherm Incorporated (NASDAQ-GS: THRM), the global market leader and a developer of innovative thermal management technologies, announced today that it has named engineering executive Darren A. Schumacher, Ph.D., to the newly created position of Vice President, Product Development, effective November 18, 2013. Schumacher reports directly to President and CEO Daniel R. Coker and is responsible for managing all aspects of the Company's global research and product development activities.
"Darren has a successful track record of driving the development, manufacturability and commercialization of products across global markets," said Coker. "We are confident he will apply this experience and leverage our technical employees' skills and knowledge to deliver products and programs, using the latest in thermal management technologies, to automotive and other markets. His leadership will help to accelerate our progress to the next phase of innovative and competitive new products that will provide important advantages for Gentherm and our customers around the world.
Most recently, Schumacher worked in product development and engineering for Bosch, a world leading Tier 1 automotive supplier. His most recent position was Business Segment Vice President of Engineering. Schumacher joined SPX Corporation in 2009 and held the position of VP, Product Development until it was acquired by Bosch in 2012. Prior to SPX, Schumacher worked at Eaton Corporation from 2001 to 2009 where he had a series of promotional roles including Director of Product Engineering, Manager Division Engineering and Manager Engineering and Program Management. Before joining Eaton he worked at Motorola, Inc. from 1994 to 2000.
Schumacher graduated with a Ph.D., MSE and BSE in Aerospace Engineering from the University of Michigan. Darren also has an MBA from Regis University. He and his family currently reside in Ann Arbor, MI.
Gentherm also announced that Stephen C. Davis, Chief Technology Officer (CTO) for the Company will be leaving at the end of the year to pursue other opportunities.
"I want to thank Steve Davis for his service as CTO," said Coker. "He played a critical role in the ongoing integration of Gentherm's and W.E.T. Automotive Systems' global engineering resources and processes. Without his knowledge and leadership, we would not have reached this next phase for our engineering organization. We wish Steve well in his future endeavors."
Gentherm (NASDAQ-GS:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include actively heated and cooled seat systems and cup holders, heated and ventilated seat systems, thermal storage bins, heated seat and steering wheel systems, cable systems and other electronic devices. The Company's advanced technology team is developing more efficient materials for thermoelectric and systems for waste heat recovery and electrical power generation for the automotive market that may have far-reaching applications for consumer products as well as industrial and technology markets. Gentherm has more than 7,500 employees in facilities in the U.S., Germany, Mexico, China, Canada, Japan, England, Korea, Malta, Hungary and the Ukraine. For more information, go to www.gentherm.com.
Except for historical information contained herein, statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding future activities, new products, customers, markets and technologies, future revenue growth and profitability, and other forward-looking opportunities. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, but are not limited to, risks associated with departing key employees, failure to develop new sales, products, customers or technologies increased costs of raw materials and components, new competitors and general adverse conditions in the industries in which the Company operates. Those and other risks are described in the Company's annual report on Form 10-K for the year ended December 31, 2012 and subsequent reports filed with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained from the Company. Except as required by law, the Company assumes no obligation to update the forward-looking statements, which are made as of the date hereof, even if new information becomes available in the future.
SOURCE Gentherm Incorporated