• Implements Management Committee Structure & Initiates Search for New CEO
• Confirms Planned Takata Acquisition on Track

Sterling Heights, MI, USA, August 23, 2017 – Key Safety Systems (KSS), a global leader in mobility safety headquartered in Michigan, USA, announced today that Jason Luo has resigned as president and chief executive officer. Concurrent with this change, Mr. Luo will also vacate his seat on the KSS board of directors. As announced by Ford Motor Company earlier today, Mr. Luo has accepted the position of corporate VP, chairman and CEO of greater China. KSS also announces the formation of new interim management committees to oversee the company’s operations and planned transaction and integration with Takata. An outside firm has been retained to assist in the search for the next KSS CEO.

Yuxin Tang will assume the role of executive director and interim president effective September 1, 2017. An automotive industry veteran, Mr. Tang currently serves as director of KSS and corporate vice president of Joyson, and was formerly an executive at SAIC General Motors Corporation.

As part of the transition, KSS has also announced that chairman Jeff Wang will become executive chairman of the organization, also effective September 1, 2017.

To ensure continued, strong performance of the business and in anticipation of acquiring substantially all of Takata’s global assets and operations, as announced on June 26, 2017, the interim management committees that will report to Mr. Tang, comprise:

“This latest investment illustrates our continuing and long-standing commitment to increase our cost competitiveness and strong presence in the region” stated Greg Heald, KSS Senior Vice President and President Asia Region.

Takata Acquisition Management Committee: Focused on completing the transaction and initial integration of KSS and Takata.
Mr. Mark Decker – SVP Global Human Resources
Mr. Ron Feldeisen – SVP Global Sales & Marketing
Mr. Greg Heald – SVP and President Asia Region
Mr. Joe Perkins – SVP and Chief Financial Officer

Operational Excellence Management Committee: Focused on managing and improving KSS.
Dr. Andreas Brand – SVP and President Europe Region
Mr. Tony Nardone – SVP and President Americas Region
Mr. Jay Phillion – SVP Global Quality
Mr. Mark Wehner – SVP and Chief Technical Officer

Jason Luo said: “It has been an honor to lead KSS for more than a decade. My KSS colleagues have done admirable work in bringing new life-saving technologies to market, expanding our footprint, and growing our revenue more than two-fold. I wish the company well on its continued growth and success in the global automotive safety market.”

“We thank Jason for his years of exceptional leadership, which leaves KSS well positioned for further success, including the planned acquisition of Takata. The KSS management team and the company’s directors remain focused on executing this transaction expeditiously and integrating the two companies to create a global powerhouse able to compete at the highest level and serve the needs of our customers worldwide,” said KSS chairman Mr. Jeff Wang.

About KSS
Key Safety Systems (KSS) is a global leader in mobility safety through the system integration and performance of safety-critical components to the automotive and non-automotive markets serving the active safety, passive safety and specialty product sectors. Through highly specialized design, development, and manufacturing, KSS’ technology is featured in more than 300 vehicle models produced by over 60 well-diversified customers worldwide. Since commencing business as a United States start-up, serving Detroit auto makers in 1916, KSS continues today with an entrepreneurial and pioneering spirit. KSS is headquartered in Sterling Heights, Michigan, with a global network of ~13,000 employees in 33 sales, engineering, and manufacturing facilities. The company has 5 main technical centers located in the key regions of the Americas, Europe and Asia. It is a wholly owned subsidiary of Ningbo Joyson Electronic Corp. (SHA: 600699) (“Joyson Electronics”).

For further information about Key Safety Systems see: http://www.keysafetyinc.com

Jean-luc Blancou (KSS) blancoj2@keysafetyinc.com
Deb Hayden (Edelman – Japan) deborah.hayden@edelman.com
Chad Tendler (Edelman) chad.tendler@edelman.com

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