Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

Garrett Motion names new board member, bids farewell to another

Published Feb 12, 2024 08:06AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
GTX
-0.96%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

ROLLE, Switzerland - Garrett Motion Inc. (NASDAQ:GTX), a key player in automotive technology, today announced a change in its Board of Directors. Paul A. Camuti, with over three decades of experience in technology and sustainability, has been appointed to the board. Concurrently, the company acknowledged the departure of John Petry, a significant figure in Garrett's recent corporate achievements.

Mr. Camuti, currently serving as Executive Vice President, Chief Technology and Sustainability Officer of Trane Technologies (NYSE:TT), brings a wealth of knowledge from his time at Ingersoll Rand (NYSE:IR) and Siemens AG (OTC:SIEGY). His expertise in innovation and technology is expected to bolster Garrett's focus on developing advanced automotive technologies.

Daniel Ninivaggi, Chairman of the Board of Garrett, expressed his enthusiasm for Mr. Camuti's addition to the board, citing his valuable insight and experience as key to the company's growth, especially in the realm of new product opportunities.

John Petry, departing the board, was recognized for his considerable contributions, including his role in streamlining the company's capital structure and enhancing financial performance. He expressed confidence in Garrett's leadership and its trajectory in the turbocharger market and new product development.

Garrett Motion, with a history spanning over 70 years, is renowned for its global leadership in turbocharging. Garrett's research and manufacturing footprint extends across five R&D centers and 13 manufacturing sites globally.

The information in this article is based on a press release statement from Garrett Motion Inc.

InvestingPro Insights

As Garrett Motion Inc. (NASDAQ:GTX) welcomes Paul A. Camuti to its Board of Directors, the company's strategic moves are reflected in its financial metrics and management actions. According to InvestingPro data, Garrett Motion has a market capitalization of $2.01 billion, demonstrating the size and significance of the company in the automotive technology sector.

InvestingPro Tips suggest that management's aggressive share buyback strategy could be a sign of confidence in the company's future performance. Additionally, analysts are optimistic, predicting that Garrett will turn profitable this year, which aligns with the company's focus on innovation and advanced automotive technologies. This is particularly relevant given the recent board changes and the company's ongoing commitment to developing cleaner, more efficient vehicle technologies.

Key financial metrics from InvestingPro further illustrate the company's status and potential for growth:

  • Revenue Growth (Last twelve months as of Q3 2023): 7.63%
  • Operating Income, Adjusted (Last twelve months as of Q3 2023): $536M USD
  • Operating Income Margin (Last twelve months as of Q3 2023): 13.96%

For those interested in a deeper dive into Garrett Motion's financial health and future prospects, more InvestingPro Tips are available, offering insights into valuation, profitability, and shareholder returns. To access these tips and gain an edge in your investment decisions, visit https://www.investing.com/pro/GTX and remember to use the special coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

With 5 additional InvestingPro Tips listed for GTX, investors can gain a comprehensive understanding of the company's financial landscape and make more informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Garrett Motion names new board member, bids farewell to another
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email