LAKE FOREST, Ill. (Feb. 17, 2017)—Gregg Sherrill is stepping down as CEO of Tenneco Inc., but will remain its executive chairman.
The board of directors approved COO Brian Kesseler to fill the role of CEO, effective May 17. Mr. Sherrill, 64, has been CEO and chairman of Tenneco since January 2007.
Mr. Kesseler is also a member of the board of directors. The change will go into effect on May 17, the company said.
In a statement, the company praised Mr. Sherrill's 10 years as CEO, during which Tenneco saw its margin expand 55 percent.
During that period, revenue grew 6 percent annually, twice that of the annual growth in global light vehicle production.
Mr. Kesseler, 50, joined Tenneco in 2015 after serving as president of Johnson Controls Power Solutions since 2013.