BorgWarner Inc. announced that Joseph Fadool, current Vice President of BorgWarner Inc. and President and GM, Emissions, Thermal and Turbo Systems, has been promoted to Executive Vice President and Chief Operating Officer of BorgWarner Inc., effective July 1, 2024. As Chief Operating Officer, Mr. Fadool will be responsible for the operations of the Company with the business unit presidents reporting to him. Mr. Fadool will report to Fr?d?ric Lissalde, President and Chief Executive Officer. Lissalde said, Joe is uniquely positioned to take on the role of Chief Operating Officer given his deep familiarity with our organization and understanding of the development and commercialization of our technologies. Notably, his contributions leading our Emissions, Thermal and Turbo Systems business unit over the last five years have resulted in strong growth and business performance, as well as fortified relationships with major global OEMs. I look forward to working more closely with Joe in this new role to deliver even better outcomes for our customers and our shareholders. Fadool said, I'm honored to become Chief Operating Officer at this important time in our Company's work to accelerate the world's transition to advanced mobility solutions. I believe BorgWarner has an immense opportunity to deliver sustained value to our stakeholders through innovative product leadership and support our customers around the globe as they transition their future portfolios. I am eager to support Fred and the entire BorgWarner team in this exciting time for our Company. New Business Unit Structure In connection with Fadool's appointment, BorgWarner also introduced a new business unit structure designed to further enhance the execution of the Company's Charging Forward strategy. Effective July 1, 2024, the Company will reorganize its business units as follows: Emissions, Thermal and Turbo Systems, which will be led by Dr. Volker Weng; Drivetrain and Morse Systems, which will be led by Isabelle McKenzie; PowerDrive Systems, which will be led by Dr. Stefan Demmerle; and Battery and Charging Systems, which will be led by Henk Vanthournout. As we continue to meaningfully progress Charging Forward, it is the right time to align our business unit structure, said Mr. Lissalde. In addition to strengthening BorgWarner's operational agility, we expect this new structure to increase efficiency through cross-functional collaboration and additional cost controls. We believe this best positions us to capture the many growth opportunities ahead. BorgWarner will align its financial reporting segments with its new business unit structure beginning July 1, 2024.