IAC Group names auto supplier veteran as new CEO

Southfield, Mich.-based IAC Group has tapped Tenneco Inc.'s former chief operating officer to be its new leader.

Kevin Baird was named CEO of the automotive supplier, replacing David Prystash, who is retiring after less than three years at the helm of the company. IAC is the second largest injection molder in North America, according to Plastics News rankings, with $1.2 billion in sales in the region.

The interior components supplier is uniquely positioned to be a "powertrain agnostic differentiator" amid the transition to electric vehicles, Baird said in an Aug. 15 news release.

"The increased emphasis that all OEM's are placing on interiors as a powertrain agnostic differentiator across platforms provides IAC with a unique opportunity to become a true leader in this area," he said.

Board Chairman Phil Martens said Baird is well-prepared to guide the company through the transition.

"He is a dynamic, values-driven business leader who has a diverse background of experiences and an excellent track record of delivering strong performance in the global automotive industry," Martens said.

Baird served for three years as chief operating officer of powertrain parts supplier Tenneco and was president and CEO of Guardian Glass for six years prior to that.

Prystash left IAC "well-positioned for continued success," according to Michael Kreger, senior partner at Gamut Capital Management, a New York-based private equity firm that invested in the supplier in 2018.

"We appreciate David's leadership throughout the unprecedented challenges presented by the COVID-19 pandemic and the resulting semi-conductor chip shortage," Kreger said in the release. "David effectively navigated the business through these headwinds and leaves IAC well-positioned for continued success."