Rassini S.A.B. de C.V. appoints Eugenio Madero as President
MEXICO CITY, March 3, 2015 /PRNewswire/ -- Rassini, S.A.B. de C.V. (Mexican Stock Exchange Ticker: RASSINI), a leader in the design and manufacturing of suspension and brake components for the global automotive industry, announced today that in its most recent meeting on February 19th, the Board of Directors of Rassini, S.A.B. de C.V. approved the proposal made by Mr. Antonio Madero, Executive Chairman of the Board, to appoint Mr. Eugenio Madero as President of Rassini, S.A.B. de C.V., reporting directly to the Executive Chairman of the Board, effective March 16th, 2015.
Mr. Eugenio Madero, who is 48 years old, has been with Rassini for more than 20 years and has held different roles within the factories, tech centers and offices located in Mexico (Piedras Negras, Coahuila State and San Martin Texmelucan, Puebla State) and the U.S. (Plymouth, Mich. and Montpelier, Ohio). Mr. Eugenio Madero's responsibilities spanned areas including operations, commercial and administration in a variety of positions, including Vice President of Financial Planning and Controller, Suspension Division President and his current position as Chairman of the Board and CEO of Rassini North America. The North American division represented 80 percent of Rassini's consolidated sales for 2014.
Before joining Rassini, Mr. Eugenio Madero began his career at Chase Manhattan Bank, New York and American Express Co. in Mexico. He received his degree in Business Administration from the Instituto Tecnologico Autonomo de Mexico (ITAM) and studied several executive management programs at Harvard University and the Instituto Panamericano de Alta Direccion (IPADE).
Currently, Mr. Eugenio Madero is a member of the Board of Directors of Rassini, and he is part of the "Consejo Coordinador Empresarial", the "Consejo de Empresarios de America Latina (CEAL)", of "Consejo Mexicano de Asuntos Internacionales (COMEXI)", and "Consejo Mexicano para la Filantropia (CEMEFI)", the "Fundacion Mexico en Harvard", the Instituto de Fomento e Investigacion Educativa, as well as of the Advisory Committee of the David Rockefeller Center for Latin American Studies - Harvard University, Cambridge, Mass. He is also a member of the "Consejo del Tecnologico de Monterrey (ITESM) Zona D.F." and the "Consejo Regional Metropolitano de BANORTE".
Mr. Eugenio Madero's vision and leadership have been essential in the recent opening of a state-of-the-art facility in Flint, Mich., and the current expansion of the brakes operations in Puebla, Mexico, which are expected to enable the brakes business to achieve 28 percent market share in North America by 2016 from a current 15 percent. Leading Rassini North America, Mr. Eugenio Madero has driven North American suspension and brakes sales to a growth well above the market of 22 percent annual compound from 2009 to 2014.
Mr. Antonio Madero, Rassini's Executive Chairman of the Board, commented, "Eugenio has clearly demonstrated the ability to drive the company into the future, starting with energy and passion for new projects and initiatives; He represents the next generation of leadership which will, without a doubt, maximize the value of the company for all our shareholders."
Mr. Eugenio Madero said, "I'm honored to accept this new role at the company and I have been privileged to work alongside such a talented and dedicated management team for over 20 years. I will continue to work hard in order to deliver outstanding results to all our stakeholders, supported in technological advancements and innovative products, quality and service for the benefit of our customers."
Rassini is a leader, designer, and manufacturer of suspension and brake components for the global automotive industry, mainly focused on original equipment manufacturers (OEMs).
Rassini is the world's largest producer of suspension components for light commercial vehicles as well as the largest fully integrated brakes disc producer in the Americas and has eight manufacturing sites strategically located in Mexico, the US and Brazil as well as four tech centers located in the same countries.
Suspension products include leaf springs (parabolic and multi-leaf) for light and commercial trucks, coil springs and bushings. The brakes business manufactures rotors, drums, brake assemblies, clutch plates and motor balancers.
Its solid and diversified customer base includes: General Motors, Ford Motor Co., FCA, Nissan, Volkswagen, Toyota, MAN, Scania, Maserati and Mercedes Benz among others.
CONTACT:
Liz Cohen
Weber Shandwick
212-445-8044
[email protected]
Francisco Freyre
Rassini, S.A.B. de C.V.
+52 55-5229-5820
[email protected]
SOURCE Rassini, S.A.B. de C.V.
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