Garrett Motion director Kevin Mahony resigns

Garrett Motion (GTX) announced that Kevin Mahony has resigned from its Board of Directors. Mr. Mahony also served as a member of the Nominating and Governance Committee and the Finance Committee. Mr. Mahony joined the Board in January 2023 as a designee of funds affiliated with Centerbridge Partners under the terms of the Series A Investor Rights Agreement, dated April 30, 2021, by and among the Company, Centerbridge, and other investors. His resignation follows Centerbridge’s divestiture of a significant portion of its ownership stake in Garrett, which now holds less than 5% of the Company’s common stock.