PALM BEACH GARDENS, Fla. — Erik Olsen, president and CEO of TBC Corp. for the past seven-plus years, plans to step down June 30. TBC has named Laurent Bourrut, a Group Michelin executive, to succeed him.
Mr. Olsen has been with TBC since 2004, joining the tire wholesaler and retailer as senior vice president and chief marketing officer. Prior to that he was a vice president of sales for Michelin North America.
After just one year with TBC, his duties were expanded to include oversight of TBC's Carroll Tire distribution arm. In 2008, he was named president and CEO of TBC Wholesale Group. He was appointed COO of TBC in 2013 and in January 2014 he became TBC's president and CEO, succeeding Larry Day.
During his tenure with TBC, the Palm Beach Gardens-based company experienced rapid growth and expansion. One of the highlights was the integration in 2018 of Carroll Tire and Michelin's TCi wholesale business to create National Tire Wholesale (NTW), one of the largest tire distributors in the U.S.
Also during his time at TBC, the company was recognized as one of the 50 Most Engaged Workplaces in North America.
Over the next few months, Mr. Olsen and TBC's executive leadership team will work alongside incoming Mr. Bourrut and Sam Kato, incoming chief administrative officer, to ensure a seamless transition.
"It has been both my honor and privilege to be a TBC team member for the last 17 years," Mr. Olsen said.
"Laurent & Sam, in partnership with all 9,000-plus TBC associates, are the right team to lead the organization for years to come; they are committed to upholding our core values upon which we have built such a strong foundation."
Mr. Bourrut brings 36 years of diverse experience in business management, operations, sales, marketing and supply chain to the job at TBC.
"TBC is poised for dramatic growth, and much of that is a credit to the management team's leadership, entrepreneurial spirit and strategic vision," Mr. Bourrut said.
"Sam and I are very much looking forward to having the opportunity to build upon the solid foundation that has led TBC to much success throughout the company's 65 year history during a pivotal time in the organization's history."
Mr. Borrut joined Michelin in 2007 as chief procurement officer and took over the worldwide OE business in 2011. He is a member of Michelin Group's executive committee, overseeing the worldwide road transport and distribution business lines as well as the European Region.
Prior to joining Michelin, Mr. Laurent held executive positions at Alcan and Pechiney and various management positions at Legrand.
Mr. Kato currently is executive officer and general manager of Sumitomo Corp.'s Automobility Division, in charge of global mobility businesses including tire businesses, at Sumitomo's headquarters in Tokyo.
In this newly created role, Mr. Kato will work alongside team members focused on legal and compliance, human resources, IT, digital, corporate strategy and communications to support the efforts of the organization's focus on becoming an "industry-leading" shared services model.
He has 35 years of experience in various automotive fields, including national marketing and distribution at Mazda North America, and CEO of a 100% automotive-dedicated consulting firm.
He was a director of TBC's board of directors from 2015 until 2018 when he was based in New York, leading Sumitomo's transportation businesses in North and South America. He also played a leading role in the evolution of TBC to 50/50 joint venture with Michelin.