Delphi Technologies is looking for another new chief executive, as Liam Butterworth is leaving to be the CEO of Melrose plc’s Automotive Division, which is composed of the GKN Driveline and GKN ePowertrain businesses. Butterworth became Delphi Technologies’ president and CEO less than a year ago after Delphi Automotive split into two companies (Delphi Technologies and Aptiv).
Prior to the spin-off of Delphi Technologies, he was a senior vice president of Delphi Automotive and president of its Powertrain Systems unit. Butterworth also was responsible for Delphi Product & Service Solutions.
Hari Nair is now Delphi Technologies’ interim CEO. And, the board of directors has commenced a search process to identify a permanent chief executive.
Nair has also been a director of Delphi Technologies since it became a public company in December. He was Tenneco’s chief operating officer from 2010-‘15.
Delphi Technologies also has lowered its guidance for 2018, citing more challenging industry dynamics, among other factors. Management now expects the company’s full-year revenue will be flat compared to 2017 (adjusting for foreign currency exchange rates). Delphi’s prior guidance called for 2-percent to 4-percent revenue growth.