FENTON, Mich., -- Webasto announced Mark Wallace, President and Chief Executive Officer of Webasto Product North America, Inc., (WPNA), will leave the company effective October 31, 2008. WPNA is a subsidiary of Webasto AG, Stockdorf, near Munich, Germany.
"It is with deep regret that I announce that Mr. Wallace will be leaving Webasto," said Dr. Joachim Damasky, member of the Management Board of Webasto AG. "He has chosen to accept an excellent leadership opportunity with a large, publicly-traded company. We wish him the very best in his future endeavors."
At WPNA, Mark Wallace has implemented a sound strategy, good processes and assembled a very talented executive team. The WPNA team understands and lives customer excellence and is committed to delivering changes within the company to continue to improve customer communication and service. "Webasto's Global Comfort Solutions (GCS) business unit recognizes the strength of WPNA and the great opportunities in North America and is investing heavily to drive WPNA's future growth," Damasky added.
Fred Olson, member of the WPNA Board of Directors and former President and Chief Executive Officer of Webasto Roof Systems, Inc. of Rochester Hills, Mich., will assume the role of interim President and CEO, WPNA.
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