Cooper Standard Announces Realignment of Responsibilities Within its Global Leadership Team to Balance Focus on Key Strategic Initiatives
NORTHVILLE, Mich.
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November 17, 2022 04:30 PM Eastern Standard Time
Cooper Standard (NYSE: CPS) today announced the realignment of certain responsibilities within its Global Leadership Team to create greater management synergies and focus on key strategic initiatives. The following changes are effective immediately.
- Patrick Clark, senior vice president and managing director - global automotive, will assume responsibility for the procurement function. This change brings closer alignment between Cooper Standard’s functions to drive the financial turnaround of the automotive business and improve its response to the dynamic automotive market.
- Joanna Totsky has been appointed senior vice president, chief transformation officer in addition to her role as chief legal officer and secretary. In this expanded role, she will continue to lead legal and compliance functions, while also taking on responsibility for the implementation of business transformation activities for long-term value creation.
- Chris Couch, senior vice president and chief technology officer, will fully focus on developing and commercializing advancements in materials science, product technology and manufacturing processes. Couch will continue expanding Cooper Standard’s product portfolio for electrified vehicles and will maintain the Company’s world-class technical support to customers, both of which continue to differentiate Cooper Standard. He will also drive the expansion of the Company’s non-automotive businesses, including industrial products, footwear and artificial intelligence (AI).
“This team of talented leaders is well aligned to continue addressing the business challenges of today, while also positioning Cooper Standard to successfully execute our accelerating value strategy,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “Our team is laser focused on optimizing our business as we work to drive increasing long-term value not only for our customers, but for all our stakeholder groups.”
With more than 28 years of automotive industry experience, Clark has held diverse leadership positions at Cooper Standard, including engineering, operations, program management, finance, strategy and sales. In addition to his current responsibilities leading the Company’s manufacturing and commercial functions, Clark will assume responsibility for global procurement as he works to continue to enhance synergies between the commercial and procurement functions.
Totsky brings more than 25 years of global experience of successfully executing transformational initiatives in the automotive and financial service industries to her expanded role. She will assume the responsibility for the execution of the Company’s optimization strategies and lead initiatives to right-size the business for today’s markets.
With more than 21 years of experience in global manufacturing, P&L, and research and development, Couch provides the critical forward-looking leadership needed to help advance the Company’s innovative offerings to new heights. Relevant technology domains include materials science, product design, manufacturing process technology and AI.
About Cooper Standard
Cooper Standard, headquartered in Northville, Mich., with locations in 21 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 23,000 employees are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on Twitter @CooperStandard.
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