Ricardo Maciel Appointed as the new CEO

[Ann Arbor, USA] - Tecumseh Products Company LLC, a global leader and innovator of commercial refrigeration technologies, today announced a significant milestone in its corporate leadership with the succession of Jay Pittas, who has served as both CEO and Chairman of the Board. The company is pleased to share that Pittas will be assuming a full-time role as Chairman of the Board, dedicating his wealth of experience to guide the company at the board level.

Pittas, whose leadership has been instrumental in steering Tecumseh towards success, expressed gratitude for the support and collaboration during his tenure. He stated, "It has been an honor to lead Tecumseh as CEO and Chairman. Now, I am excited to fully dedicate myself to the board activities, and I am confident in the future success of Tecumseh."

Tecumseh Products Company is equally delighted to announce the appointment of Ricardo Maciel as Chief Executive Officer, effective January 2nd. Currently serving as the President of Tecumseh Europe & Asia, Maciel brings a wealth of experience, a proven track record, and a deep understanding of the industry. His leadership has been instrumental in driving growth, improving competitiveness, and successfully executing key investments.

Maciel is known as a transformational leader with a keen ability to drive profitable top-line growth. His commitment to excellence, innovation, and operational efficiency aligns perfectly with Tecumseh's values and goals. The company is confident that Maciel's leadership will enhance its capabilities and position Tecumseh for continued success in the dynamic market landscape.

Maciel shared his excitement about his new role, stating, "It is a great honor to be entrusted with the position of CEO at Tecumseh. I look forward to collaborating with the team across the globe to deliver value and an unrivaled experience to our customers and business partners. Together, we will build on the strong legacy established by Jay and lead the company into its next phase of growth and innovation."

Pittas expressed confidence in Maciel's ability to lead Tecumseh, stating, "Finding a capable leader to guide Tecumseh has been a priority, and I believe Ricardo is well-equipped to lead our organization into the future."

The transition process is expected to extend until the end of this year, ensuring a seamless handover of responsibilities and maintaining continuity in Tecumseh's strategic direction. This approach aims to facilitate a smooth transfer of leadership, enabling Maciel to build on the strong foundation established by Pittas.

The company appreciates the ongoing support and confidence of its stakeholders and welcomes inquiries or requests for further information. For additional details, contact Hiroshi Saito, VP of Marketing at [email protected].

Tecumseh looks forward to the positive impact this strategic move will have on the industry and is excited about the continued growth and success of the organization under Ricardo Maciel's leadership.