x

Posted 07 July, 2022

TENNECO INC appointed Jim Voss as new CEO

NYSE:TEN appointed new Chief Executive Officer Jim Voss in a 8-K filed on 07 July, 2022.


  Parent and Merger Sub have advised Tenneco that they intend to appoint Jim Voss as Tenneco's Chief Executive Officer effective upon the consummation of the Merger and Mr. Kesseler's departure.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of TENNECO INC
Automotive • Motor Vehicle Parts
Tenneco, Inc. engages in the design, manufacture, market and sale of innovative clean air, powertrain and ride performance products and systems. It operates through the following segments: Motorparts, Performance Solutions, Clean Air, and Powertrain. The Motorparts segment consists of a portfolio of brand-name products in the global vehicle aftermarket within seven product categories including shocks and struts, steering and suspension, braking, sealing, engine, emissions, and maintenance. The Performance Solutions segment designs a variety of products and systems designed to optimize the ride experience of the global customer base, including noise, vibration, and harshness performance materials, advanced suspension technologies, ride control, braking, and systems protection. The Clean Air segment offers products and systems designed to reduce pollution and optimize engine performance, acoustic tuning, and weight on a vehicle for light vehicles, commercial trucks, and off-highway original equipment customers. The Powertrain segment focuses on original equipment powertrain products for automotive, heavy duty, and industrial applications. The company was founded on April 1, 1940 and is headquartered in Skokie, IL.
Market Cap
$1.59B
View Company Details
TENNECO INC by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

As previously announced, on February 22, 2022, Tenneco Inc., a Delaware corporation ("Tenneco"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), by and among Tenneco, Pegasus Holdings III, LLC, a Delaware limited liability company ("Parent"), and Pegasus Merger Co., a Delaware corporation and wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which among other things, and subject to the terms and conditions set forth therein, Merger Sub will be merged with and into Tenneco, with Tenneco surviving as a wholly owned subsidiary of Parent (the "Merger"). Parent and Merger Sub are affiliates of Apollo Global Management, Inc. 

On July 7, 2022, Brian J. Kesseler, the Chief Executive Officer of Tenneco, confirmed that, subject to and effective only upon consummation of the Merger, Mr. Kesseler intends to depart as Tenneco's Chief Executive Officer. Parent and Merger Sub have advised Tenneco that they intend to appoint Jim Voss as Tenneco's Chief Executive Officer effective upon the consummation of the Merger and Mr. Kesseler's departure.