Marelli announced on Thursday the appointment of Laurent Favre as its Chief Executive Officer with immediate effect, succeeding Frederick "Fritz" Henderson as he concludes his tenure as interim CEO.
Favre will lead the company through its emergence from Chapter 11 and its subsequent transformation phase. Separately, Marelli's lenders announced plans to appoint Bram Schot as Chair of the Board upon the company's emergence from Chapter 11, subject to the satisfaction of restructuring conditions precedent. Schot brings extensive industry experience, having previously served as Chief Executive Officer of Audi and held senior leadership roles across Mercedes-Benz and the Volkswagen Group.
Favre brings over two decades of experience with major automotive suppliers, including senior positions at ThyssenKrupp, ZF, Benteler, and a tenure as Chief Executive Officer of Plastic Omnium, which was later renamed OPmobility. Commenting on his appointment, Favre stated, "Our immediate priority is to complete the work required for a successful emergence from Chapter 11. Emergence is a critical milestone, but the turnaround must continue beyond it. We will focus on restoring Marelli’s financial strength, improving performance across the business and strengthening customer confidence through consistent delivery."