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Transportation equipment industry

Amerigon Inc. Announces Leadership Changes and New Board Appointments

Strategic Insights

— 2 min read

Amerigon Inc. has undergone significant changes in its leadership structure, with Richard A. Weisbart being promoted to president and chief executive officer. This move follows the private placement of $9 million of convertible preferred shares, which has enabled the company to expand its operations and development of proprietary products for automotive OEMs. Weisbart has been with the company since May 1997, serving as president and chief operating officer. The company has also appointed three new directors to its board, expanding it to seven members. These changes come as Amerigon is working with several automotive companies to introduce its Climate Control Seat (CCS) system in model year 2000 and 2001 vehicles.

Key Takeaways:

  • Richard A. Weisbart, 53, has been promoted to president and chief executive officer of Amerigon Inc., effective immediately, replacing Lon E. Bell, Ph.D., 58.
  • Weisbart has been with the company since May 1997, serving as president and chief operating officer, and will focus on commercializing and developing the company's Climate Control Seat (CCS) system and AmeriGuard (TM) collision avoidance radar.
  • The company has appointed new directors: Oscar ("Bud") B. Marx, 60, former vice president of Ford Motor Company's Automotive Components Group; James P. Paulsen, 59, retired Ford Motor Company executive; and Paul Oster, 42, chief financial officer of TMW Enterprises.
  • Amerigon is working with several automotive companies to introduce its Climate Control Seat (CCS) system in model year 2000 vehicles and has plans to launch the system in European, Asian, and other North American automotive companies in 2001 and 2002 model year vehicles.
  • The company's AmeriGuard (TM) radar sensor systems are designed to extend drivers' field of view for enhanced parking aids, back-up warning systems, and side object detection.
  • The company's forward-looking statements involve risks and uncertainties, including demand for its products, technological change, competition, and other risks detailed in its Annual Report on Form 10-K.

Statistics:

  • $9 million: The amount of convertible preferred shares raised by Amerigon Inc. through a private placement completed on June 8, 1999.
  • 1997: The year Richard A. Weisbart joined Amerigon Inc. as president and chief operating officer.
  • 53: Weisbart's age at the time of his promotion to president and chief executive officer.
  • 58: Lon E. Bell's age, who was replaced as chief executive officer by Weisbart.
  • 60: Oscar ("Bud") B. Marx's age, who was appointed a director and named chairman of the board.
  • 59: James P. Paulsen's age, who was appointed a director.
  • 42: Paul Oster's age, who was appointed a director.
  • 2000: The model year in which Amerigon plans to launch its Climate Control Seat (CCS) system.
  • 2001 and 2002: The model years in which Amerigon plans to introduce its Climate Control Seat (CCS) system in European, Asian, and other North American automotive companies.

Sources:

  • Amerigon Inc. press release, June 28, 1999.

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