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Cheung brings with him 25 years of global experience in finance and general management across industries, including the automotive and building products sectors. NEW ALBANY, Ohio, Sept. 14, 2022 (GLOBE NEWSWIRE) -- CVG (NASDAQ: CVGI) announced today that Andy Cheung has been appointed to the role of Executive Vice President and Chief Financial Officer, effective Oct. 11, 2022. Prior to this appointment, Cheung spent more than 25 years at Johnson Controls, progressing through a variety of roles and departments, including positions in finance, general management, procurement, and corporate development. He has held a number of senior-level positions throughout his career, and lived and worked in Japan, China, Belgium, and the United States during his tenure. Cheung is joining CVG directly from Johnson Controls, where he was most recently serving as Vice President & Chief Financial Officer of Global Products. "Andy will play an important role in CVG's transformation," said CVG President and CEO Harold Bevis. "He has a proven record of building strong teams and delivering results. Andy has extensive experience with acquisitions, joint ventures and partnerships, which will prove valuable as CVG enters its next phase of profitable diversified growth." "I believe the size, global platform, and diversification of CVG's offerings poise the company for significant growth over the next few years," said Cheung. "I'm eager to put my experience to immediate use and become part of CVG's journey into the future, especially as the company continues focusing on the electric vehicle and automation industries." Cheung will replace Christopher Bohnert, who resigned from the role of CFO and is expected to remain with the company in a different role until the end of the year and assist in a smooth leadership transition. Cheung was born in Hong Kong and received his Bachelor of Business Administration in Accounting from Hong Kong University of Science & Technology, and an MBA from the University of Chicago. Cheung is also a Certified Public Accountant (inactive status). About CVG At CVG, we deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about our company and products is available at www.cvgrp.com. Media Contact Sarah Littlefield PR Specialist Sarah.Littlefield@cvgrp.com ### This content was issued through the press release distribution service at Newswire.com.
CVG is one of many businesses affected by the large-scale government lock-downs in Shanghai that began in March as a result of rising COVID-19 cases NEW ALBANY, Ohio, May 26, 2022 (GLOBE NEWSWIRE) -- CVG announced on Thursday that it has restarted operations at its Shanghai plant in China. In March, the company became one of thousands of manufacturers in the region that were forced to halt production as the result of restrictions aimed at stemming the spread of COVID-19. Production at the Shanghai plant resumed on May 20 at 50% capacity under a "closed-loop" system — where employees must receive a negative COVID test and then live on-site within the factory — to minimize the risk of spreading the virus within the city. CVG plans to continue ramping up production over the next few weeks in accordance with the local lifting of restrictions, led by Deputy Mayor of Shanghai Zong Ming, who has stated that the city hopes to fully open in June. The shutdown in March had immediate impact on CVG's OE seating customers in Asia and abroad, who were either facing similar manufacturing restrictions or unable to ship and receive products due to congestion in Shanghai's port, which is the largest port in the world. CVG responded quickly, moving to air shipping to limit supply chain disruptions for its customers. The company was recently able to reinstate ocean freight through both the Shanghai and Ningbo ports. "We may not have control over this pandemic or the delays in production it causes, but we can adapt quickly and create alternate solutions to mitigate the impacts," said CVG President and CEO Harold Bevis. "We've had our customers' needs front-of-mind in every decision we've made — from providing alternate means of shipping to working closely with some of our top customers to mirror production in our Thailand and Mexico operations in order to provide alternate supply." CVG's local seat production in Asia includes the manufacturing of medium- and heavy-duty seating solutions for some of the region's largest vehicle manufacturers and represents an $80 million accretive business for the company. Globally, seat-part supply from Shanghai impacts $170 million worth of production for the company within the U.S., Mexico, UK, Thailand and Australia. In combination with the war in Ukraine which immediately impacted production at the company's facility in L'viv, CVG faced first-quarter interruptions that have continued into the second quarter. CVG is actively resolving these setbacks and expects second-half operations to be back to pre-war, pre-COVID status, barring any new unforeseen events. About CVG At CVG, we deliver real solutions to complex design, engineering and manufacturing problems across a range of global industries by innovating, constantly adding value, and treating our customer's bottom line as if it were our own. Information about our company and products is available at www.cvgrp.com. Media Contact Jason Gray Marketing Manager CVG Jason.Gray@cvgrp.com Related Images Image 1 This content was issued through the press release distribution service at Newswire.com.
Commercial Vehicle Group (CVG) protects its team and production in Ukraine, while installing backup production in the Czech Republic. One of "CVG 35" who relocated to the Czech Republic from Ukraine to help set up facility. One of "CVG 35" who relocated to the Czech Republic from Ukraine to help set up facility. NEW ALBANY, Ohio, April 12, 2022 (GLOBE NEWSWIRE) -- CVG had 1,200 employees immediately impacted by the senseless Russian invasion of Ukraine. Despite a complete shut-down initially, CVG is back to 100% pre-invasion output rates. This quick response was possible thanks to brave leadership by its local team, the resolve and creativity of the Ukrainian and neighboring Czech Republic teams, fast-acting customers, and CVG's decision to implement fallback production positions with two new production facilities in the Czech Republic and a supply chain from Mexico. "As we have all witnessed since this invasion began, the Ukrainian people do not back down, and their resolve, commitment to winning, and bravery is astounding," said CVG President and CEO Harold Bevis. "Our global team quickly assembled itself into daily war calls, and we make on-the-spot decisions to protect our people, continue commerce as best we can, and implement backup plans. Despite the unreal hardship our Ukraine team faces, our employees wanted to keep working, be productive, and contribute to their economy in order to help defeat the Russian army. Our Ukrainian and Czech teams are remarkable, and our 8,000-person global team at CVG is working with them. Two of CVG's core values are make the world a better place through our actions and help each other. This was an easy decision for the CVG leadership team; it is our core values in action. We are all flying the Ukrainian flag - Slava Ukraini." CVG's local leaders are Jan Chabera, Executive Director of CVG's Operations in Eastern Europe (PEKM), and Yaroslav Pauk, Director of CVG Ukraine. They have led the implementation of the following actions in response to the invasion: All employees were initially paid, even if unable to work. Overtime wages were provided for all employees who went to work. All employees were issued a spot bonus while the facility was closed. Upgrades to the bomb shelter near our L'viv facility, fitted with a bathroom and kitchenette, and can house up to 300 people during an air raid/siren. Modified 24/7 work schedules to reduce the number of people in the facility at one time and maintain output. Upgraded the IT infrastructure to defend against cyber-attacks. Workstation modifications will be made for any injured employee wishing to return to work. Assistance will be provided for any employee who wishes to move to or from the Ukraine. All shipments to customers in Russia and Belarus have been halted. Resolve in Ukraine CVG and its Ukraine team are deeply committed to persevering through this ordeal together. CVG's plant in L'viv, Ukraine, immediately shut down and then reconstituted itself quickly, despite having all eligible male employees called into military service. CVG reestablished a team of more than 1,000 mostly female employees in the facility. They are dedicated to staying in Ukraine, protecting the local GDP, producing products for customers, and maintaining their communities and country. CVG has moved quickly with its customers who are equally committed to protecting and preserving Ukraine, but additionally need to achieve supply chain certainty. This has required extremely fast customer-supplier decision-making. CVG is thankful to all those that have helped it move fast. CVG will continue to fully support the Ukrainian government, economy and people, and urges other organizations with operations in Ukraine to follow suit in ensuring the safety of its employees in the region, but also to preserve their way of life as best possible. The "CVG 35" In order to provide backup production to Ukraine, CVG immediately decided to begin fallback production in the Czech Republic. CVG has an existing team, distribution, plants, and banking in the Czech Republic and was able to open two new plants in parallel within a few weeks. The "CVG 35" led the way - 35 brave women who traveled from Ukraine through Poland to the Czech Republic to help establish the new facilities, despite not speaking the Czech language or knowing the fate of their homes. CVG provided a moving package, apartments and furnishings to this core group of Ukrainian women to relocate to the Czech Republic. Thanks to these women, a large CVG support team, and the expedient movement of equipment and raw materials, the Czech plants are now operational. They are already producing electrical harnesses for electric vehicles and passenger cars. With this startup success, CVG plans to increase employment to 350 people between the two new locations. As a leading customer of CVG's business in that region, members of Volkswagen's team from Škoda Auto visited the "CVG 35" at one of the new facilities in the Czech Republic. That visit left a lasting impression on Karsten Schnake, Board Member for Purchasing at ŠKODA AUTO & Head of Project COMPASS at Volkswagen AG, who posted on LinkedIn about the experience. About CVG CVG is a global provider of vehicle solutions, electrical systems, warehouse automation, and aftermarket services. CVG's corporate purpose and values are to make the world a better place through our products and actions; employ a diverse and inclusive workforce; let our results do the talking and hold each other accountable; have fun and help each other. Information about the company and its products is available on the internet at www.cvgrp.com. Media Contact Jason Gray Marketing Manager CVG Jason.Gray@cvgrp.com Related Images Image 1: One of "CVG 35" who relocated to the Czech Republic from Ukraine to help set up facility. Woman in foreground assembling wiring at an electrical assembly facility in the Czech Republic, with two other women assembling parts in the background. Image 2: Ukrainian woman assembling wire harnesses at Czech facility One of the CVG 35 women who made the journey from Ukraine to the Czech Republic to help set up electrical manufacturing facilities there. Image 3: Ukrainian team at the facility in L'viv The team at the Ukrainian facility in L'viv prior to the Russian invasion of Ukraine. Image 4: CVG EV Logo A blue CVG EV logo This content was issued through the press release distribution service at Newswire.com. Attachment One of "CVG 35" who relocated to the Czech Republic from Ukraine to help set up facility.
A12 藝術空間
Commercial Vehicle Group
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