TriMas Corp. announced David Rice as the future CFO of the new Cequent organization, once the previously announced spin-off from TriMas is complete. The spin transaction is expected to be completed in mid-2015.
According to a news release, Rice currently serves as division finance officer of TriMas’ Cequent Performance Products business located in Plymouth, Mich. He will also assume responsibility for the human resource function of the Cequent businesses.
“I am pleased to announce David’s well-deserved promotion to chief financial officer,” said Mark Zeffiro, previously announced president and CEO of the new public entity upon completion of the transaction. “His extensive financial experience, strong interpersonal skills and focus on continuous improvement make him the ideal executive to help drive this new public entity going forward. I am confident David’s strategic orientation, financial leadership skills and focus on delivering results will create value for our shareholders.”
Rice joined TriMas in 2005 and brings more than 30 years of financial, audit and leadership experience to the role. He has held previous roles at TriMas, including division finance officer of Cequent Performance Products, and group controller and director of corporate audit. Prior to 2005, he held divisional controller positions of increasing responsibilities at GKN Sinter Metals and Mueller Industries Inc., as well as managing international operations finance at The Woodbridge Group.
Rice holds a bachelor’s in business administration with a concentration in accounting from the Wayne State University, an executive masters of business administration from the University of Michigan and is a certified public accountant.
As previously announced, Zeffiro, the previous executive vice president and CFO of TriMas, will serve as president and CEO of the new spin-off entity upon completion of the transaction. On an interim basis, Zeffiro has been named group president of Cequent.