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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.
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