Flash FinanceUS
Pre-market S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · BorgWarner (BWA)

BorgWarner CEO Lissalde to retire; COO Fadool to succeed him on February 6, 2025

Neutral Impact 4 of 5 leadership Written later

BorgWarner said CEO Frederic B. Lissalde will retire effective at the close of business on February 6, 2025, and Joseph F. Fadool, its executive vice president and chief operating officer, will succeed him. Fadool will also join the board, filling the seat Lissalde vacates, and Lissalde will serve as a consultant through August 30, 2025. The company also declared a quarterly dividend of $0.11 per share.

Key points

  • Joseph F. Fadool, 58, has been executive vice president and chief operating officer since July 2024 and will become president and CEO effective February 6, 2025.
  • Fadool's base salary will be $1,250,000, with a target annual bonus of $1,875,000 (150% of base salary) and a 2025 long-term incentive target of $8,125,000 (650% of base salary).
  • During the transition period through August 30, 2025, Lissalde's base salary will be reduced to 67% of his prior level.
  • Quarterly dividend of $0.11 per share is payable December 16, 2024 to stockholders of record on December 2, 2024.

The filing

CompanyBorgWarner (BWA)
Form8-K, current report
Filed with the SECNov 7, 2024, 8:03 AM ET
Accession number0000908255-24-000046

Items reported: 5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 07, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.