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OFFON

COMMERCIAL VEHICLE GROUP, INC.

(CVGI)
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Commercial Vehicle : CVG Announces New Business Leader of Aftermarket, NPI and Ecommerce

09/08/2021 | 04:31pm EDT

NEW ALBANY, Ohio, Sept. 08, 2021 (GLOBE NEWSWIRE) -- CVG (NASDAQ: CVGI) announced today that Peter Ingemi has joined CVG as Vice President of Aftermarket, NPI and Ecommerce, reporting to Harold Bevis, President and Chief Executive Officer.

In this newly formed business unit, Mr. Ingemi will provide leadership in three key focus areas of CVG: Global Aftermarket & Accessories Business; NPI Strategic Program Management; and Marketing & Ecommerce.  

Harold Bevis, President and Chief Executive Officer, commented, “I am thrilled that Peter is joining CVG as he has the experience and skillset to profitably grow CVG’s business in these areas which are key priorities for us given the potentially large opportunities that exist. Peter’s experience in ecommerce and digital marketing are additive to our team as we remain committed to growing sales, growing margins and increasing our pace.”

Mr. Ingemi, said, “I am excited to join CVG and bring my experience to drive profitable growth in aftermarket, ecommerce and new products. I really like CVG’s new direction and look forward to creating results in my assigned leadership areas, and overall. It is going to involve leveraging our strengths, adding some new ideas, hard work, and a lot of fun.”

Mr. Ingemi joins CVG from Omnimax International where he served as the Chief Commercial Officer with responsibility for ideating and launching new, metal fabricated products, both stock and made-to-order, implementing marketing programs, setting pricing and programs with major accounts, licensing new technology and launching new production sites. Prior to Omnimax, Mr. Ingemi served as Chief Operating Officer of Acktify, which is a Top 100 seller on every major ecommerce marketplace. Mr. Ingemi has expert knowledge of creating and installing curated product offerings on the internet. Mr. Ingemi holds a BS in Management and an MBA from Salem State College in Massachusetts.

For further information, please contact IR@CVGRP.com.

About CVG

CVG is a global provider of components and assemblies into two primary end markets – the global vehicle market and the U.S. technology integrator markets. The company provides components and assemblies to global vehicle companies to build original equipment and provides aftermarket products for fleet owners. The company also provides mechanical assemblies to warehouse automation integrators and to U.S. military technology integrators. Information about the Company and its products is available on the internet at www.cvgrp.com.

Investor Contact

Christopher Bohnert, Chief Financial Officer
CVG
IR@CVGRP.com


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Source: Commercial Vehicle Group, Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Analyst Recommendations on COMMERCIAL VEHICLE GROUP, INC.
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Financials (USD)
Sales 2021 1 020 M - -
Net income 2021 33,5 M - -
Net Debt 2021 84,3 M - -
P/E ratio 2021 9,73x
Yield 2021 -
Capitalization 335 M 335 M -
EV / Sales 2021 0,41x
EV / Sales 2022 0,36x
Nbr of Employees 7 200
Free-Float 90,4%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 10,17 $
Average target price 18,50 $
Spread / Average Target 81,9%
EPS Revisions
Managers and Directors
Harold C. Bevis President, Chief Executive Officer & Director
Christopher H. Bohnert Chief Financial Officer
Robert C. Griffin Chairman
Aneezal H. Mohamed Secretary, Compliance Officer & General Counsel
Roger L. Fix Independent Director
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