TI Fluid Systems PLC (LON:TIFS) announced chief executive and president William Kozyra will retire in the fourth quarter of this year.

To replace him, the automotive components manufacturer has appointed Hans Dieltjens as chief operating officer starting on March 1, so he can transition to the top role once Kozyra leaves.

READ: TI Fluid Systems restores dividend amid progress in electric vehicle market

Dieltjens is currently executive vice president of global fuel tank and delivery systems at the FTSE 250 firm, where he has worked for 25 years.

Chair Manfred Wennemer noted that Kozyra joined the group in 2008 at the height of the global financial crisis and led it to more than a decade of “record performance”.

“Bill was instrumental in bringing the Company public in 2017 and in developing and executing the Company’s electrification strategy to address the Hybrid & Battery Electric Vehicle market developments,” he commented in a release.

“I wish Bill all the best in his retirement and thank him for his 12 years of exemplary service. We’ve considered several high caliber automotive executives in addition to Hans Dieltjens for this position. I am pleased with the results of this activity which validated Hans’ strong credentials and credibility in the automotive space.”

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