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Durrer becomes first CEO to run company created from Key Safety Systems and TakataHe comes from Germany’s ThyssenKrupp-Presta AG, where he was chairman and CEOKey Safety acquired Takata for $1.6 billion in April, changing its name to Joyson SafetyJoyson Safety Systems, formerly Key Safety Systems, announced Friday the appointment of Guido Durrer as its president and CEO.Durrer, 63, replaces Jason Luo in the position, who left the company in August 2017, effective immediately. Yuxin Tang, a board member for Joyson Safety, served as the interim president until Durrer’s hiring.Durrer joins Joyson Safety from Germany’s ThyssenKrupp-Presta AG, where he was chairman and CEO. He also continues to serve as executive director on Joyson Safety’s board.Joyson Safety is the result of Key Safety’s $1.6 billion acquisition of scandal-plagued Takata Corp., which was financed by Key Safety’s Chinese parent company Ningbo Joyson Electronics Corp., private equity firm PAG and Chinese state-owned Future Industry Investment Fund. Key Safety changed its name to Joyson Safety in April and relocated its headquarters to Auburn Hills from Sterling Heights.Durrer will now run the combined auto safety system supplier with more than 50,000 employees in 23 countries and more than $7 billion in revenue.Key Safety won a stalking horse bid to acquire Takata out of bankruptcy in November.Takata’s malfunctioning airbag inflators, which have sent shards of metal into drivers and passengers and are linked to at more than 17 deaths globally, have plagued it for more than eight years.With pressure mounting replica hermes belts , the 84-year-old Takata filed for bankruptcy protection in Japan and its U.S. subsidiary , Auburn Hills-based TK Holdings Inc., filed for Chapter 11 protection in Delaware in June 2017 in a prepackaged agreement to sell to Key Safety, which beat out nearly a half dozen competitors.”Guido brings significant global leadership and industry expertise to Joyson Safety Systems following the company’s recent formation through the combination of Key Safety Systems and substantially all of the global assets of Takata Corporation,” Jeff Wang, Joyson Safety’s chairman said in a news release. „I look forward to working closely with Guido and to leveraging his experience as we strengthen and grow Joyson Safety Systems’ position as a world-class leader in automotive safety.”

Joyson Safety Systems names Guido Durrer president and CEO

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