Guido Durrer, who steered Joyson Safety Systems for more than three years following its takeover of Takata Corp.’s business operations, plans to retire as president and CEO on Dec. 31.
Effective Jan. 1, the top job will be filled by Tao Liu, who recently joined the suburban Detroit automotive supplier as deputy CEO to learn the ropes from Durrer, 67, over the next four months, the company said in a statement Wednesday.
Liu, 56, joins the company as it revamps plant operations amid the COVID-19 pandemic with an emphasis on safety and as it tries to shake the troubled reputation of Takata, which was doomed by a longtime and systemic airbag scandal. Formerly known as Key Safety Systems, Joyson is a subsidiary of China-based Ningbo Joyson Electronic Corp. It purchased Takata’s assets for $1.6 billion in 2018.
“We will be forever grateful for the legacy that Guido has etched on our entire organization, including his leadership through our corporate integration and strong guidance during the challenges of the pandemic,” Jeff Wang, chairman of Joyson, said in the statement.
Durrer took the helm of the company in 2018 after 30 years in automotive industry leadership roles, including 10 years as CEO at ThyssenKrupp Presta AG, the auto steering subsidiary of German conglomerate ThyssenKrupp AG.