Garrett Motion Announces Resignation of Kevin Mahony from Board of Directors
Garrett Motion (Nasdaq: GTX), a leading automotive technology provider, announced the resignation of Kevin Mahony from its Board of Directors. Mahony's departure follows Centerbridge Partners' significant divestiture of its ownership stake in Garrett, now holding less than 5% of common stock.
Mahony, who joined the Board in January 2023 as Centerbridge's designee, served on the Nominating and Governance Committee and Finance Committee. His appointment was under the Series A Investor Rights Agreement dated April 30, 2021. Board Chairman Daniel Ninivaggi acknowledged Mahony's valuable contributions during his tenure.
Garrett Motion (Nasdaq: GTX), fornitore leader di tecnologie per il settore automobilistico, ha annunciato le dimissioni di Kevin Mahony dal proprio Consiglio di Amministrazione. La decisione segue la consistente dismissione della quota di propriet脿 da parte di Centerbridge Partners, che ora detiene meno del 5% del capitale ordinario di Garrett.
Mahony, entrato nel Board a gennaio 2023 come rappresentante designato da Centerbridge, 猫 stato membro del Comitato per la Nomina e la Governance e del Comitato Finanziario. La sua nomina era prevista dall'Accordo sui Diritti degli Investitori di Serie A del 30 aprile 2021. Il Presidente del Consiglio, Daniel Ninivaggi, ha riconosciuto il valore del contributo di Mahony durante il suo mandato.
Garrett Motion (Nasdaq: GTX), proveedor l铆der de tecnolog铆a para la industria automotriz, anunci贸 la renuncia de Kevin Mahony a su Junta Directiva. La salida se produce tras la importante desinversi贸n de Centerbridge Partners en su participaci贸n en Garrett, que ahora posee menos del 5% del capital social ordinario.
Mahony, que se incorpor贸 a la Junta en enero de 2023 como designado de Centerbridge, form贸 parte del Comit茅 de Nombramientos y Gobernanza y del Comit茅 Financiero. Su nombramiento estaba contemplado en el Acuerdo de Derechos de los Inversores de la Serie A con fecha 30 de abril de 2021. El presidente del Consejo, Daniel Ninivaggi, destac贸 las valiosas contribuciones de Mahony durante su periodo en el cargo.
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毵ろ樃雼堧姅 2023雲� 1鞗� Centerbridge鞚� 歆�氇呾澑鞙茧 鞚挫偓須岇棎 頃╇頄堨溂氅�, 歆�氇吢逢卑氩勲剬鞀� 鞙勳洂須岇檧 鞛 鞙勳洂須岇棎靹� 頇滊彊頄堨姷雼堧嫟. 攴胳潣 鞛勲獏鞚� 2021雲� 4鞗� 30鞚检瀽 鞁滊Μ歃� A 韴瀽鞛� 甓岆Μ 順戩暯鞐� 霐半ジ 瓴冹澊鞐堨姷雼堧嫟. 鞚挫偓須� 鞚橃灔 雼る媹鞐� 雼堧媹氚旍(Daniel Ninivaggi)電� 鞛瀯 旮瓣皠 霃欖晥 毵ろ樃雼堦皜 旮办棳頃� 氚旊ゼ 雴掛澊 韽夑皜頄堨姷雼堧嫟.
Garrett Motion (Nasdaq: GTX), fournisseur majeur de technologies automobiles, a annonc茅 la d茅mission de Kevin Mahony de son conseil d'administration. Ce d茅part fait suite 脿 la cession significative par Centerbridge Partners de sa participation dans Garrett, qui d茅tient d茅sormais moins de 5 % du capital ordinaire.
Mahony, entr茅 au conseil en janvier 2023 en tant que d茅sign茅 de Centerbridge, si茅geait au comit茅 de nomination et de gouvernance ainsi qu'au comit茅 des finances. Sa nomination relevait de l'accord sur les droits des investisseurs de la s茅rie A en date du 30 avril 2021. Le pr茅sident du conseil, Daniel Ninivaggi, a salu茅 les contributions appr茅ciables de Mahony durant son mandat.
Garrett Motion (Nasdaq: GTX), ein f眉hrender Anbieter von Fahrzeugtechnik, gab den R眉cktritt von Kevin Mahony aus seinem Aufsichtsrat bekannt. Mahonys Schritt folgt auf die erhebliche Ver盲u脽erung der Anteilsposition von Centerbridge Partners an Garrett, die nun weniger als 5 % des Stammkapitals h盲lt.
Mahony, der im Januar 2023 als von Centerbridge benannter Vertreter in den Aufsichtsrat eingetreten ist, war Mitglied des Nominierungs- und Governance-Ausschusses sowie des Finanzausschusses. Seine Ernennung beruhte auf der Series鈥慉鈥慖nvestor鈥慠ights鈥慥ereinbarung vom 30. April 2021. Aufsichtsratsvorsitzender Daniel Ninivaggi w眉rdigte Mahonys wertvolle Beitr盲ge w盲hrend seiner Amtszeit.
- Centerbridge's reduced stake (below 5%) suggests successful transition from post-restructuring ownership structure
- Company maintains strong governance with established committees and clear strategic framework
- Loss of experienced board member with deep financial expertise
- Significant shareholder (Centerbridge) reducing stake could signal reduced confidence
PLYMOUTH, Mich. and ROLLE, Switzerland, Aug. 29, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) ("Garrett" or the "Company"), a leading differentiated automotive technology provider, today announced that Kevin Mahony has resigned from its Board of Directors. Mr. Mahony also served as a member of the Nominating and Governance Committee and the Finance Committee.
Mr. Mahony joined the Board in January 2023 as a designee of funds affiliated with Centerbridge Partners, L.P. (鈥淐enterbridge鈥�) under the terms of the Series A Investor Rights Agreement, dated April 30, 2021 (as amended), by and among the Company, Centerbridge, and other investors. His resignation follows Centerbridge鈥檚 divestiture of a significant portion of its ownership stake in Garrett, which now holds less than
鈥�On behalf of the Board, I would like to thank Kevin for his valuable contributions during his tenure,鈥� said Daniel Ninivaggi, Chairman of the Board of Garrett. 鈥�His deep engagement and collaboration have been instrumental to Garrett鈥檚 success. We wish him the best moving forward.鈥�
鈥�I am thankful to Garrett鈥檚 management and the Board for their partnership,鈥� said Kevin Mahony, Senior Managing Director at Centerbridge. 鈥�I am proud of the strategic framework we鈥檝e built to position Garrett for long-term success and sustained shareholder value. With a strong team and clear priorities in place, I am confident in the Company鈥檚 path ahead.鈥�
About Garrett Motion Inc.
A differentiated technology leader, Garrett Motion has a 70-year history of innovation in the automotive sector (cars, trucks) and beyond (off-highway equipment, marine, power generators). Its expertise in turbocharging has enabled significant reductions in engine size, fuel consumption, and CO2聽emissions. Garrett is expanding its positive impact by developing differentiated technology solutions for Zero Emission Vehicles, such as fuel cell compressors for hydrogen fuel cell vehicles, as well as electric propulsion and thermal management systems for battery electric vehicles. Garrett has six R&D centers, 13 manufacturing sites and a team of more than 9,000 employees in more than 20 countries. Its mission is to enable the transportation industry to advance motion through unique, differentiated innovations. For more information, please visit聽.
Forward-Looking Statements
This communication and related comments by management may include 鈥渇orward-looking statements鈥� within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and can be identified by words such as 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥済oal,鈥� 鈥渟eek,鈥� 鈥渂elieve,鈥� 鈥減roject,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟trategy,鈥� 鈥渇uture,鈥� 鈥渓ikely,鈥� 鈥渕ay,鈥� 鈥渟hould,鈥� 鈥渨ill,鈥� and similar expressions. Forward-looking statements represent our current judgment about possible future activities, events, or developments that we expect may occur in the future. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future performance, events, or results, and actual performance, events, or results may differ materially from those envisaged by our forward-looking statements due to a variety of important factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission, including risks related to the automotive industry, the competitive landscape and our ability to compete, and macroeconomic and geopolitical conditions, among others. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.
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