BorgWarner Announces CEO Succession Plan

BorgWarner Inc. announced that its Board of Directors approved a leadership
succession plan whereby Joseph Fadool, BorgWarner’s Executive Vice President
and Chief Operating Officer, has been appointed President and Chief
Executive Officer and a member of BorgWarner’s Board of Directors effective
at the close of business on February 6, 2025. At that time, Frédéric
Lissalde will retire from his role as President and CEO and step down from
the Board of Directors. To support a seamless transition, Mr. Lissalde will
serve in an advisory role until August 30, 2025.

Alexis P. Michas, Non-Executive Chairman of the Board of Directors, said,
“As CEO, Fred has reshaped our product portfolio and set BorgWarner on a
path to lead the world’s energy transition to electrified vehicles. Fred has
been an exceptional leader and embodies our beliefs, values and innovative
culture. We believe Fred’s passion for our business and customer focus have
positioned the company for success for years to come. We look forward to
celebrating his career over the coming months as we transition to our next
CEO and send Fred off to a well-deserved retirement.”

Michas continued, “Today’s announcement reflects the Board’s thoughtful
approach to succession planning. Joe has been a trusted member of our
leadership team for 14 years, and we are excited to name him as BorgWarner’s
next President and CEO. Having served as a President of four business units,
Joe has an incredibly deep understanding of our industry, technology focused
product portfolio, operations, culture and strong customer relationships.
This makes Joe very well prepared to lead BorgWarner to achieve new levels
of success and value creation for our stakeholders.”

Mr. Lissalde said, “It has been a privilege to work alongside our talented
BorgWarner team for 25 years, and I am incredibly proud of all we have
accomplished. Together, we have carefully curated a resilient portfolio of
market leading technologies that are accelerating the world’s transition to
electrification, which we believe will be successful under different
regional powertrain adoption scenarios. I know that Joe will step seamlessly
into the CEO role and continue guiding BorgWarner to even greater heights.
His track record of operational excellence and dynamic thinking make him the
right person for the role, and I am excited to follow the Company’s
continued success with him at the helm.”

Mr. Fadool said, “Fred has been an incredible mentor to me, and I am honored
to be appointed the next CEO of BorgWarner. Over the last 14 years, I have
worked closely with BorgWarner’s talented workforce and our customers to
solve the world’s propulsion problems in new and innovative ways. I believe
BorgWarner’s world-class product portfolio, innovative and customer-centric
culture, and strong operating model position the company well to drive
favorable business results for many years. As we look to capture growth
opportunities ahead, we will stay focused on enhancing our strong product
portfolio, efficiently managing our costs to stay competitive and supporting
our dynamic teams around the globe to deliver value to our customers. We
believe this focus will further strengthen our product leadership position.
The future for BorgWarner is bright and I’m incredibly excited to get
started in my new role.”

About Joseph Fadool

Joseph Fadool joined BorgWarner in 2010 and has held a number of top
positions across the
Company, including Chief Operating Officer and President and General Manager
of Emissions, Thermal and Turbo Systems, Morse Systems and TorqTransfer
Systems, the precursor to PowerDrive Systems. Prior to joining BorgWarner,
Mr. Fadool worked at Continental Automotive Systems as Vice President for
North American Electronic Operations and at Ford Motor Company. Mr. Fadool
holds a Bachelor of Science in electrical engineering from Lawrence
Technological University and a Master of Science in computer and electronic
controls from Wayne State University.