Allison Transmission, the global leader in automatic transmissions for medium- and heavy-duty commercial vehicles, said its President and Chief Financial Officer David S. Graziosi will succeed Chief Executive Officer Lawrence E. Dewey on June 1, 2018.
Thomas W. Rabaut, lead director of the board and chairman of the Nominating and Corporate Governance Committee for Allison, said, “Larry is an exceptional leader who has successfully guided Allison through several periods of significant change while positioning it well for the future.”
“I am honored to be selected to succeed Larry as Allison’s next CEO,” said Graziosi.
The 51-year old Graziosi joined Allison as executive vice president, CFO and treasurer, in 2007 after the sale of Allison Transmission by General Motors to The Carlyle Group and Onex Corporation, ultimately leading to an IPO in March 2012.
The board of Allison Transmission board will consider both internal and external candidates to assume Allison’s CFO position and implement an appropriate transition plan.
Allison Transmission has a market presence in more than 80 countries with regional headquarters in the Netherlands, China and Brazil and manufacturing facilities in the United States, Hungary and India. The company has around 1,400 independent distributor and dealer locations worldwide.