Axalta Coating Systems Ltd. announced the appointment of Chris Villavarayan as Chief Executive Officer, effective January 1, 2023. At that time, Rakesh Sachdev, who has served as interim CEO and President, will succeed Bill Cook as non-executive Board Chair. Mr. Cook will continue to serve as an independent director and will become Chair of the Board's Compensation Committee, while also continuing to serve on the Audit Committee.

Mr. Villavarayan is a proven global executive with more than two decades of diverse operational and management experience in industrial sectors. Most recently, he served as CEO and President of Meritor Inc., positioning Meritor as a global industry leader of commercial vehicle drivetrains and engineered systems with OEM and aftermarket customers, including pioneering its expansion into electric powertrains thereby paving a path for the evolution toward zero emissions for commercial vehicles. He brings an established track record of driving growth, expanding margins and managing complex global operations resulting in significant shareholder value creation.