Management News related to Delphi to spin off its powertrain business
Delphi´s powertrain operations will become a separate publicly traded company.
The business unit works primarily in the optimization of drive systems.
Tim Manganello, currently member of Delphi´s board of directors will serve as non-executive chairman of the new company.
Before Manganello acted as CEO at BorgWarner.
Liam Butterworth, currently Senior Vice President and President of Powertrain Systems, is appointed president and CEO of the new company.
The outsourcing is subject to the usual regulatory conditions and should be finished by March 2018.