Garrett Motion Board Member Steven Tesoriere Steps Down

Garrett Motion Inc., a global provider of differentiated turbocharging and electrification technologies for automotive and industrial applications, announced that Steven Tesoriere, managing director and portfolio manager at Oaktree, has resigned from Garrett’s board of directors. In addition to his board service, Tesoriere served on the Talent Management and Compensation Committee of the board until his resignation.

Tesoriere joined the board in April 2021 as a designee of funds affiliated with Oaktree Capital Management L.P. under the terms of the company’s Series A Investor Rights Agreement. He previously chaired the Finance Committee and the Nominating and Governance Committee, company officials said in a press release.

“On behalf of the board, I would like to thank Steve for his valuable contributions during his tenure,” said Daniel Ninivaggi, chairman of the board of Garrett. “Steve has been instrumental to Garrett’s financial success, diversification initiatives and long-term shareholder value creation. We are grateful for his service and wish him all the best.”

“It has been a privilege to work with Garrett’s management and board, and I am grateful for the strong partnership we have built,” said Tesoriere. “I am proud of the strategic foundation we established to support Garrett’s long-term success and drive shareholder value, and I am confident in the company’s future.”