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Melrose appoints former Delphi Technologies boss Liam Butterworth to lead GKN units

Former Delphi Technologies boss Liam Butterworth will start his new role at Melrose in November.

Melrose bought GKN in April for £8bn

Melrose Industries PLC (LON:MRO) has appointed Liam Butterworth to head the automotive division that has been created following the hostile takeover of GKN PLC (LON:GKN).

The turnaround specialist—which bought GKN earlier this year for £8bn –said Butterworth would start as chief executive of the division, which includes GKN Driveline and the GKN ePowertrain businesses, in November.

READ: Melrose reports significant progress with GKN reorganisation

Butterworth joins Melrose from Delphi Technologies (NYSE:DLPH), where he was chief executive for less than a year and senior vice president from February 2014 to December 2017. 

He became chief executive of the engine propulsion technology after it was spun off from Dephi Automotive, now known as Aptiv Plc, in December 2017.

Melrose chief executive Simon Peckham said: "We are pleased to have secured Liam to lead our automotive division.  His substantial leadership experience in the sector will be of great benefit to both GKN Driveline and GKN ePowertrain in achieving the significant improvements we believe are available and we look forward to working with him to deliver these."

Dephi Automotive announced on Friday that Butterworth was stepping down to pursue other interests as it cut its full year revenue guidance, blaming challenging industry conditions. It named automobile industry veteran Hari Nair as interim CEO to replace Butterworth.

In September Melrose said it was making progress with its restructuring of GKN by reducing central functions and agreeing strategic plans to improve the engineer's businesses, which include aerospace, automotive and power metallurgy divisions. 

Quick facts: Melrose Industries PLC

Price: 129.4 GBX

Market: LSE
Market Cap: £6.29 billion

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