Punch Powertrain, the Chinese-Belgian transmission supplier, has appointed Jorge Solis, a veteran executive who held senior positions at Wabco and Valeo, as CEO.
The position became vacant in April when longtime Punch CEO Cor van Otterloo died after a short illness at the age of 63. Barend Braaksma, a member of Punch's board of directors, served as interim CEO.
Solis, 48, joins Punch Powertrain from Wabco Vehicle Control Systems, where he has been president of the truck, bus and car OEMs division since 2016.
Prior to that he was vice president of the vehicle dynamics business unit at Wabco and held other positions at the supplier.
Before joining Wabco in 2010 he worked at Valeo for nearly 16 years.
Van Otterloo had been CEO of Punch Powertrain since 2007 before his death this year after a short illness, the company said.
Punch Powertrain said in a news release that Solis's primary task would be optimizing the company's global supply chain.
"Despite the current industry downturn, Punch Powertrain has major contracts with original equipment manufacturers to fulfill in the near-term and significant potential for future growth," said Xiong Xuqiang, chairman of Punch Powertrain's board of directors,
Punch, which is based in in Sint-Truiden, Belgium, primarily supplies continuously variable transmissions to Asian customers, including BAIC Group, Dongfeng, Geely and Proton.
Last year it entered into a joint-venture agreement with PSA Group to produce electrified dual-clutch transmissions for 48-volt mild hybrid vehicles.
The transmissions, which will appear in PSA vehicles by 2022, will have a 48-volt motor mounted between an internal combustion engine and the transmission. The new enterprise will be based at PSA's engine and transmission factory in Metz, eastern France. The plant will have an annual capacity of 600,000 transmissions when production starts in 2022.
Punch was originally a subsidiary of the automaker DAF and was later taken over by ZF. It is now owned by the Yinyi group, which acquired the company in 2016.
Punch's main factories in Nanjing, China, and Belgium together produce more than one million transmissions annually.