Jay Pittas, who has served as both CEO and chairman of the board will be assuming a full-time role as chairman of the board, dedicating his wealth of experience to guide the company at the board level. Pittas, whose leadership has been instrumental in steering Tecumseh towards success, expressed gratitude for the support and collaboration during his tenure. He said: 'It has been an honour to lead Tecumseh as CEO and Chairman. Now, I am excited to fully dedicate myself to the board activities, and I am confident in the future success of Tecumseh.'

Maciel is known as a transformational leader with a keen ability to drive profitable top-line growth. His commitment to excellence, innovation, and operational efficiency aligns perfectly with Tecumseh's values and goals. The company is confident that Maciel's leadership will enhance its capabilities and position Tecumseh for continued success in the dynamic market landscape.

Maciel shared his excitement about his new role, stating, 'It is a great honour to be entrusted with the position of CEO at Tecumseh. I look forward to collaborating with the team across the globe to deliver value and an unrivalled experience to our customers and business partners. Together, we will build on the strong legacy established by Jay and lead the company into its next phase of growth and innovation.'

Pittas expressed confidence in Maciel's ability to lead Tecumseh, and said: 'Finding a capable leader to guide Tecumseh has been a priority, and I believe Ricardo is well-equipped to lead our organisation into the future.'

The transition process is expected to extend until the end of this year, ensuring a seamless handover of responsibilities and maintaining continuity in Tecumseh's strategic direction. This approach aims to facilitate a smooth transfer of leadership, enabling Maciel to build on the foundation established by Pittas.