International Automotive Components Group said Nov. 3 that Chief Financial Officer David Prystash will succeed Manfred Gingl as CEO at the start of 2021.
IAC, based in Luxembourg with North American headquarters in Southfield, Mich., supplies cockpits, instrument panels, consoles, doors, headliners and overhead systems.
IAC is No. 2 in Plastics News' ranking of North American injection molders, with nearly $1.5 billion in annual sales just in injection molding. It had $4.1 billion in global sales across all business areas in 2019.
Gingl will remain CEO through the end of the year and will continue as executive chairman of the board of directors after the transition.
Prystash joined IAC in 2018 after holding several leadership positions at General Motors Co., including vice president and CFO of global product development, purchasing and supply chain and CFO of global manufacturing and labor relations.
Prystash has held leadership roles outside of the auto industry. He also spent 24 years at Ford Motor Co. in various senior financial and operational posts.
"With David at the helm, our deep leadership team bench is well-positioned to continue the positive momentum IAC has seen over the last year," Gingl said in a statement. "David has a proven track record at IAC and extensive experience running businesses globally. David has been pivotal in the company's turnaround and in ensuring customers view us as a preferred partner, and I am excited to continue working closely with David and supporting success as executive chairman of the board."
Gingl, who spent time at Canadian supply giant Magna International Inc., has been leading a strategic overhaul of IAC over the past two years.
Kevin Graham, vice president of finance, will succeed Prystash as CFO.
Graham joined IAC in 2019 after holding various leadership roles at GM in finance and supply chain. At IAC, Graham "has led numerous cost-saving and restructuring initiatives that have facilitated IAC to maximize the value of its assets, improve its cost structure and plan for profitable growth in the future," IAC said in the statement.
IAC Group ranks No. 62 on the Automotive News list of the top 100 global suppliers.