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Cooper-Standard Automotive Announces Organizational Changes
Novi, Mich., June 19, 2007 - Cooper-Standard Automotive Inc. announced today as part of its continuing management development of senior executives the following organizational changes.
Larry J. Beard, president, Global Fluid Systems Division, is appointed vice president, Mergers, Acquisitions & Business Development, Cooper-Standard Automotive Inc., reporting to Jim McElya, chairman and chief executive officer.
Michael C. Verwilst, vice president, Strategy and Business Development, Cooper-Standard Automotive Inc., is appointed president, Global Fluid Systems Division, reporting to Ed Hasler, president and chief operating officer.
Before joining the company in 1998, Larry Beard was employed at BE Aerospace, an interior commercial aircraft supplier. He held various senior management positions at BE and his last assignment was as President and General Manager of BE's commercial aircraft seating business in Litchfield, Ct.
Beard earned his Journeyman status in tool & die making while at Ford Motor Company and holds a bachelor's degree in Mechanical Engineering from Wayne State University. Additionally, Beard received his MBA from Northeastern University in Boston, Ma.
Before joining Cooper-Standard in 2003, Mike Verwilst was a principle with Corporate Improvement Partners in Bloomfield Hills, Mich. Prior to this position, Verwilst was with Federal-Mogul Corporation. During his career with Federal-Mogul, he held many executive positions including senior vice president of Powertrain Systems, vice president & general manager of Powertrain Systems - Americas, general manager of Engine & Transmission Products Group, director - sales & engineering of Engine & Transmission Products Group and director - sales & marketing of Ball Bearing Operations.
Verwilst attended Michigan State University where he received a Bachelor of Science degree in Mechanical Engineering/Management.
"These changes are necessary to ensure that our competitive ability is not only maintained in the future, but is also designed to enhance stakeholder value through the continuous management development of our senior executives," said Jim McElya.
About Cooper-Standard Automotive
Cooper-Standard Automotive Inc., headquartered in Novi, Mich., is a leading global automotive supplier specializing in the manufacture and marketing of systems and components for the automotive industry. Products include body sealing systems, fluid handling systems, and NVH control systems. Cooper-Standard Automotive Inc. employs approximately 19,000 people globally with more than 70 facilities throughout the world. For more information, visit the company's Web site at: www.cooperstandard.com.
Cooper-Standard is a privately-held portfolio company of The Cypress Group and Goldman Sachs Capital Partners Funds.
The Cypress Group is a private equity investment firm managing more than $3.5 billion of capital. Cypress has an extensive track record of making growth-oriented investments in targeted industry sectors and building equity value alongside proven management teams.
Founded in 1869, Goldman Sachs is one of the oldest and largest investment banking firms. Goldman Sachs is also a global leader in private corporate equity and mezzanine investing. Established in 1991, the GS Capital Partners Funds are part of the firm's Principal Investment Area in the Merchant Banking Division. Since 1986, Goldman Sachs' Principal Investment Area has formed 13 investment vehicles aggregating $56 billion of capital to date.
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