Clarios, one of state’s largest firms, has new CEO
Clarios, the company created by Johnson Controls International PLC's sale of its automotive battery business, has a new president and CEO.
Mark Wallace, previously an executive vice president and president of commercial vehicle drive and motion systems at Dana Inc., started in his new job Monday.
He succeeds John Barkhouse, interim CEO, who will continue as chairman of the company's board.
“Mark has a demonstrated history of driving revenue growth and improving profit margins,” Barkhouse said in a statement. “His experience as a leader with extensive knowledge of the OE (original equipment) and aftermarket industries ensures Clarios and its customers are in good hands, and our strategic plan will continue to advance globally.”
Dana makes automotive drivetrains — the systems that connect the transmission to the drive axles — and other automotive systems and parts.
Clarios, based in Glendale, sells about one in three automotive batteries in the world and has revenue of about $8 billion a year.
The company was created when Johnson Controls sold its automotive battery business to Brookfield Business Partners LP, a publicly traded limited partnership, and a group of institutional investors, for $13.2 billion last year.
Brookfield Business Partners, which is based in Bermuda but has its headquarters in Toronto, owns an array of services, infrastructure and industrial companies.
Wallace, who earned bachelor's and master's degrees from the University of Tennessee, also has worked at Webasto, a global automotive parts supplier, Magna International and Cooper Automotive.