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Axalta Appoints Tim Bowes as President, Global Industrial Coatings

1. Tim Bowes appointed President of Global Industrial Coatings effective January 27, 2025. 2. Tim has significant industry experience, enhancing Axalta's leadership stability. 3. Past transformation led by Tim could indicate positive operational improvements for Axalta. 4. Shelley Bausch thanked for contributions as she steps down from her role.

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Why Bullish?

Leadership changes can positively influence market perception and operational performance. Similar past changes in successful companies often led to improved stock performance.

How important is it?

The appointment of a new president could significantly influence company direction and performance. Industry leadership roles often signify pivotal strategic changes.

Why Long Term?

New leadership is set to drive long-term strategic goals. Historical appointments have benefited corporate and stock performance over time.

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AXTAMERAXL
January 23, 2025 07:30 ET  | Source: Axalta Coating Systems LLC PHILADELPHIA, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Axalta Coating Systems Ltd. (NYSE: AXTA) (“Axalta” or the “Company”), a leading global coatings company, today announced that Tim Bowes has been appointed President, Global Industrial Coatings, effective January 27, 2025. Mr. Bowes will succeed Shelley Bausch who will be stepping down from her role. Most recently, Mr. Bowes served as Axalta’s Senior Vice President and Chief Transformation Officer. Prior to joining Axalta, he served as Senior Vice President and President of Electrification, Industrial, Aftermarket, Purchasing & Supply Chain for Meritor. Mr. Bowes has also served as Senior Vice President and President of the Casting business unit for American Axle & Manufacturing and CEO and President of Transtar Industries, an Industrial and Automotive Aftermarket company. He also held executive leadership roles at ITT Automotive and Intermet. Mr. Bowes has lived and worked in Asia and Europe and holds a Master of Business Administration from Wayne State University in Detroit, Michigan and a bachelor's degree from Lawrence Technological University in Southfield, Michigan. “Tim brings a wealth of experience to this role with his extensive background in managing industrial businesses across a number of industries and regions. He has played an important role in Axalta’s transformation over the past two years, driving significant advancements in strategy and operational excellence,” said Chris Villavarayan, Chief Executive Officer and President of Axalta. “As we look forward to Axalta’s exciting future, I am pleased that Tim has accepted the opportunity to lead our global Industrial Coatings business at such an important time.” Mr. Villavarayan added, “On behalf of our Board of Directors and our executive committee, I want to thank Shelley for her many contributions to Axalta. We wish her all the best in the future as she explores her many personal and professional interests.” About Axalta Coating Systems Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful, and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity, and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 140 countries better every day with the finest coatings, application systems and technology. For more information, visit axalta.com and follow us on Facebook, LinkedIn, Instagram and @axalta on X. Cautionary Statement Concerning Forward-Looking Statements This release may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding Axalta and its subsidiaries including, but not limited to, statements regarding the President, Global Industrial Coatings transition. Axalta has identified some of these forward-looking statements with words such as “look forward,” and “future” and the negative of these words or other comparable or similar terminology. All of these statements are based on management’s expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of Axalta’s control, as well as risks associated with the President, Global Industrial Coatings transition, that may cause its business, industry, strategy, financing activities or actual results to differ materially. More information on potential factors that could affect Axalta’s financial results is available in “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” within Axalta’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and in other documents that we have filed with, or furnished to, the SEC. Axalta undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise.

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