Garrett Motion Inc. announces the resignation of Steven Tesoriere from its Board of Directors, thanking him for his contributions.
Quiver AI Summary
Garrett Motion Inc. announced the resignation of Steven Tesoriere from its Board of Directors, where he had served since April 2021 as a representative of Oaktree Capital Management. During his tenure, he was a member of the Talent Management and Compensation Committee and previously chaired both the Finance Committee and the Nominating and Governance Committee. The Board's Chairman, Daniel Ninivaggi, expressed gratitude for Tesoriere’s contributions to the company's financial success and long-term shareholder value creation. Tesoriere highlighted his pride in establishing a strategic foundation for Garrett's future and expressed confidence in the company's direction. Garrett Motion is recognized for its innovation in turbocharging and electrification technologies, with a global presence that includes numerous R&D centers and manufacturing facilities.
Potential Positives
- Garrett Motion acknowledges the valuable contributions of Steven Tesoriere, highlighting strong leadership during his tenure.
- The company continues to focus on long-term shareholder value creation, as emphasized by both the Chairman and Mr. Tesoriere.
- Garrett Motion has a robust history of innovation in the automotive sector, with a commitment to advancing technology solutions in turbocharging and electrification.
Potential Negatives
- The resignation of a board member, especially one who played a key role in finance and compensation, may raise concerns about the company's governance and potential instability within the leadership.
- This change could lead to uncertainty among investors regarding the continuity of strategic initiatives and financial performance, particularly given the strong emphasis on long-term shareholder value in the resignation statement.
- Mr. Tesoriere's departure from the Talent Management and Compensation Committee may disrupt ongoing processes related to talent management and compensation structures, potentially affecting employee morale and retention.
FAQ
Who is Steven Tesoriere?
Steven Tesoriere is a former member of the Board of Directors at Garrett Motion Inc. and was affiliated with Oaktree Capital Management.
What role did Tesoriere have at Garrett?
He served on the Board and was part of the Talent Management and Compensation Committee until his resignation.
When did Steven Tesoriere resign?
Steven Tesoriere resigned from the Board of Directors on October 28, 2026.
What contributions did Tesoriere make to Garrett?
He contributed to financial success, diversification initiatives, and long-term shareholder value creation during his tenure.
What are Garrett Motion's areas of expertise?
Garrett Motion specializes in turbocharging, electrification technologies, and solutions for automotive and industrial applications.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GTX Insider Trading Activity
$GTX insiders have traded $GTX stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $GTX stock by insiders over the last 6 months:
- SEAN DEASON (SVP & Chief Financial Officer) sold 110,000 shares for an estimated $3,512,597
- THIERRY MABRU (SVP, Integrated Supply Chain) sold 70,000 shares for an estimated $2,309,811
- MARK ALBERT RODRIGUES (SVP, GM GBEs Turbo Tech) has made 0 purchases and 2 sales selling 16,656 shares for an estimated $560,109.
- DANIEL A NINIVAGGI sold 17,178 shares for an estimated $536,293
- JULIA STEYN sold 178 shares for an estimated $4,984
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$GTX Hedge Fund Activity
We have seen 226 institutional investors add shares of $GTX stock to their portfolio, and 187 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- OAKTREE CAPITAL MANAGEMENT LP removed 9,500,000 shares (-55.6%) from their portfolio in Q2 2026, for an estimated $344,185,000
- FMR LLC added 8,399,113 shares (+101.8%) to their portfolio in Q2 2026, for an estimated $304,299,863
- GATES CAPITAL MANAGEMENT, INC. removed 3,455,787 shares (-58.2%) from their portfolio in Q2 2026, for an estimated $125,203,163
- D. E. SHAW & CO., INC. added 3,315,699 shares (+247.0%) to their portfolio in Q2 2026, for an estimated $120,127,774
- VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. added 2,916,983 shares (+inf%) to their portfolio in Q2 2026, for an estimated $105,682,294
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC removed 2,826,404 shares (-46.6%) from their portfolio in Q2 2026, for an estimated $102,400,616
- MACKENZIE FINANCIAL CORP added 2,572,596 shares (+1012.1%) to their portfolio in Q2 2026, for an estimated $93,205,153
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$GTX Price Targets
Multiple analysts have issued price targets for $GTX recently. We have seen 3 analysts offer price targets for $GTX in the last 6 months, with a median target of $36.0.
Here are some recent targets:
- Hamed Khorsand from BWS Financial set a target price of $42.0 on 07/06/2026
- Nathan Jones from Stifel set a target price of $36.0 on 05/14/2026
- Rajat Gupta from JP Morgan set a target price of $33.0 on 05/14/2026
Full Release
PLYMOUTH, Mich. and ROLLE, Switzerland, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) ("Garrett" or the "Company"), a global leader in differentiated turbocharging and electrification technologies for automotive and industrial applications, today announced that Steven Tesoriere has resigned from its Board of Directors. In addition to his Board service, Mr. Tesoriere served on the Talent Management and Compensation Committee of the Board until his resignation.
Mr. Tesoriere joined the Board in April 2021 as a designee of funds affiliated with Oaktree Capital Management, L.P. (“Oaktree”) under the terms of the Company’s Series A Investor Rights Agreement. He previously chaired the Finance Committee and the Nominating and Governance Committee.
“ On behalf of the Board, I would like to thank Steve for his valuable contributions during his tenure ,” said Daniel Ninivaggi, Chairman of the Board of Garrett. “ Steve has been instrumental to Garrett’s financial success, diversification initiatives and long-term shareholder value creation. We are grateful for his service and wish him all the best. ”
“It has been a privilege to work with Garrett’s management and Board, and I am grateful for the strong partnership we have built,” said Mr. Tesoriere, Managing Director and Portfolio Manager at Oaktree . “I am proud of the strategic foundation we established to support Garrett’s long-term success and drive shareholder value, and I am confident in the Company’s future.”
About Garrett Motion Inc.
A differentiated technology leader, Garrett Motion has a 70-year history of innovation in the automotive sector (cars, trucks) and beyond (off-highway equipment, marine, power generators). Its well-recognized expertise in turbocharging has enabled significant reductions in engine size, fuel consumption, and CO2 emissions. Garrett is committed to advancing turbo applications while leveraging its unique technology solutions, such as fuel cell compressors for hydrogen fuel cell vehicles, as well as electric propulsion and thermal management systems for automotive and industrial applications. Garrett has six R&D centers, 13 manufacturing facilities, and a team of more than 8,700 employees in more than 20 countries. For more information, please visit
www.garrettmotion.com
CONTACTS :
INVESTOR RELATIONS
Cyril Grandjean
+1 734 392 55 04
[email protected]
MEDIA
Fabrice Spenninck
MediaRel
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