BorgWarner Management

Management criteria checks 3/4

BorgWarner's CEO is Fred Lissalde, appointed in Aug 2018, has a tenure of 5.67 years. total yearly compensation is $19.31M, comprised of 7.2% salary and 92.8% bonuses, including company stock and options. directly owns 0.18% of the company’s shares, worth €13.08M. The average tenure of the management team and the board of directors is 4.5 years and 4.7 years respectively.

Key information

Fred Lissalde

Chief executive officer

US$19.3m

Total compensation

CEO salary percentage	7.2%
CEO tenure	5.7yrs
CEO ownership	0.2%
Management average tenure	4.5yrs
Board average tenure	4.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Fred Lissalde's remuneration changed compared to BorgWarner's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$19m	US$1m	US$632m
Sep 30 2023	n/a	n/a	US$963m
Jun 30 2023	n/a	n/a	US$1b
Mar 31 2023	n/a	n/a	US$961m
Dec 31 2022	US$18m	US$1m	US$636m
Sep 30 2022	n/a	n/a	US$593m
Jun 30 2022	n/a	n/a	US$516m
Mar 31 2022	n/a	n/a	US$672m
Dec 31 2021	US$18m	US$1m	US$343m
Sep 30 2021	n/a	n/a	US$766m
Jun 30 2021	n/a	n/a	US$781m
Mar 31 2021	n/a	n/a	US$436m
Dec 31 2020	US$10m	US$1m	US$500m
Sep 30 2020	n/a	n/a	US$362m
Jun 30 2020	n/a	n/a	US$445m
Mar 31 2020	n/a	n/a	US$715m
Dec 31 2019	US$14m	US$1m	US$746m
Sep 30 2019	n/a	n/a	US$756m
Jun 30 2019	n/a	n/a	US$766m
Mar 31 2019	n/a	n/a	US$866m
Dec 31 2018	US$5m	US$946k	US$931m
Sep 30 2018	n/a	n/a	US$555m
Jun 30 2018	n/a	n/a	US$536m
Mar 31 2018	n/a	n/a	US$476m
Dec 31 2017	US$3m	US$673k	US$440m

Compensation vs Market: Fred's total compensation ($USD19.31M) is above average for companies of similar size in the German market ($USD3.35M).

Compensation vs Earnings: Fred's compensation has been consistent with company performance over the past year.

CEO

Fred Lissalde (56 yo)

5.7yrs

Tenure

US$19,308,195

Compensation

Mr. Frederic B. Lissalde, also known as Fred, has been an Independent Director of Autoliv, Inc. since December 8, 2020. Mr. Lissalde has been President, Chief Executive Officer and Director of BorgWarner I...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Frederic Lissalde	President	5.7yrs	US$19.31m	0.18% $ 13.1m
Tonit Calaway	Executive VP	5.7yrs	US$5.63m	0.032% $ 2.3m
Joseph Fadool	VP and President	4.5yrs	US$6.96m	0.10% $ 7.5m
Stefan Demmerle	VP and President & GM of PowerDrive Systems	8.3yrs	US$6.53m	0.11% $ 7.9m
Craig Aaron	CFO, Executive VP & Controller	2.3yrs	no data	0.017% $ 1.3m
Amy Kulikowski	VP & Chief Accounting Officer	less than a year	no data	0.0051% $ 370.7k
Harry Husted	Chief Technology Officer	no data	no data	no data
Patrick Nolan	Vice President of Investor Relations	7.4yrs	no data	no data
Tania Wingfield	Executive VP & Chief Human Resources Officer	2.3yrs	no data	0.021% $ 1.5m
Tom Tan	VP & President of Borgwarner China	16.3yrs	no data	no data
Volker Weng	VP, President and GM of Drivetrain & Battery Systems	3.2yrs	no data	0.048% $ 3.5m
Paul Farrell	Executive VP & Chief Strategy Officer	3.5yrs	no data	0.023% $ 1.7m

4.5yrs

Average Tenure

56yo

Average Age

Experienced Management: BGW's management team is considered experienced (4.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Frederic Lissalde	President	5.7yrs	US$19.31m	0.18% $ 13.1m
Alexis Michas	Independent Non-Executive Chairman	31.3yrs	US$487.58k	0.035% $ 2.6m
Deborah McWhinney	Independent Director	5.8yrs	US$316.29k	0.011% $ 821.0k
Hau Thai-Tang	Independent Director	1.2yrs	US$286.49k	0.0038% $ 274.4k
Shaun McAlmont	Independent Director	3.7yrs	US$303.79k	0.0069% $ 501.4k
Michael Hanley	Independent Director	7.4yrs	US$317.79k	0.012% $ 910.0k
Sara Greenstein	Independent Director	2.4yrs	US$305.89k	0.0034% $ 251.0k
Sailaja Shankar	Independent Director	1.6yrs	US$304.51k	0.0038% $ 274.4k

4.7yrs

Average Tenure

56.5yo

Average Age

Experienced Board: BGW's board of directors are considered experienced (4.7 years average tenure).

BorgWarner Management

Management criteria checks 3/4

Key information

Recent management updates

BorgWarner Inc., Annual General Meeting, Apr 24, 2024

Insider recently sold €601k worth of stock

Borgwarner Announces Appointment of Amy Kulikowski as Chief Accounting Officer, Effective from March 1, 2024

Executive VP recently sold €1.1m worth of stock

Borgwarner Inc. Announces CFO Changes

Independent Non-Executive Chairman recently sold €295k worth of stock

Recent updates

Dividend of US$0.11 announced

BorgWarner Inc. Declares Quarterly Cash Dividend, Payable on June 17, 2024

BorgWarner Inc. to Report Q1, 2024 Results on May 02, 2024

BorgWarner Inc., Annual General Meeting, Apr 24, 2024

Insider recently sold €601k worth of stock

Borgwarner Announces Appointment of Amy Kulikowski as Chief Accounting Officer, Effective from March 1, 2024

Upcoming dividend of US$0.11 per share

Executive VP recently sold €1.1m worth of stock

Dividend of US$0.11 announced

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$2.70 (vs US$4.01 in FY 2022)

BorgWarner Inc. Provides Earnings Guidance for the Year 2024

Borgwarner Inc. Announces CFO Changes

BorgWarner Inc. (NYSE:BWA) completed the acquisition of Electric Hybrid Systems Business Segment from Eldor Corporation S.p.A.

Upcoming dividend of US$0.11 per share at 1.3% yield

BorgWarner Inc. Declares Quarterly Dividend, Payable on December 15, 2023

BorgWarner Inc. Provides Earnings Guidance for the Year 2023

Third quarter 2023 earnings released: EPS: US$0.37 (vs US$1.17 in 3Q 2022)

BorgWarner Inc. to Report Q3, 2023 Results on Nov 02, 2023

Upcoming dividend of US$0.11 per share at 1.1% yield

Second quarter 2023 earnings released: EPS: US$0.87 (vs US$0.91 in 2Q 2022)

Borgwarner Inc. Provides Earnings Guidance for the Year 2023

Borgwarner Inc. Declares Quarterly Cash Dividend, Payable on September 15, 2023

Now 29% undervalued after recent price drop

BorgWarner Inc. to Report Q2, 2023 Results on Aug 02, 2023

BorgWarner Inc. (NYSE:BWA) entered into a share purchase agreement to acquire Electric Hybrid Systems Business Segment from Eldor Corporation S.p.A. for €75 million.

Now 20% undervalued after recent price drop

Upcoming dividend of US$0.17 per share at 1.5% yield

Independent Non-Executive Chairman recently sold €295k worth of stock

BorgWarner Inc. Provides Earnings Guidance for the Full Year 2023

First quarter 2023 earnings released: EPS: US$0.93 (vs US$0.84 in 1Q 2022)

High number of new directors

Insider recently sold €329k worth of stock

Upcoming dividend of US$0.17 per share at 1.3% yield

President recently sold €6.9m worth of stock

Borgwarner Announces Executive Changes

Full year 2022 earnings released: EPS: US$3.99 (vs US$2.26 in FY 2021)

BorgWarner Inc. Provides Earnings Guidance for the Year of 2023

Borgwarner Inc. Appoints Hau Thai-Tang to Its Board of Directors

Executive VP recently sold €242k worth of stock

BorgWarner Inc. Announces Resignation of Paul A. Mascarenas as Board of Directors

Upcoming dividend of US$0.17 per share

BorgWarner Inc. Declares Quarterly Dividend, Payable on December 15, 2022

Third quarter 2022 earnings released: EPS: US$1.16 (vs US$0.40 in 3Q 2021)

Borgwarner Inc. Provides Earnings Guidance for the Fiscal Year 2022

BorgWarner Inc. Appoints Sailaja Shankar to Its Board of Directors

BorgWarner Inc. (NYSE:BWA) entered into an equity transfer agreement to acquire Charging Business of Hubei Surpass Sun Electric Co. Ltd for an enterprise value of up to CNY 410 million.

Upcoming dividend of US$0.17 per share

Second quarter 2022 earnings released: EPS: US$0.91 (vs US$1.04 in 2Q 2021)

BorgWarner Inc. (NYSE:BWA) acquired Rhombus Energy Solutions, Inc.

BorgWarner Inc. Declares Quarterly Dividend, Payable on September 15, 2022

Executive VP recently sold €663k worth of stock

Upcoming dividend of US$0.17 per share

Executive VP recently sold €147k worth of stock

First quarter 2022 earnings released: EPS: US$0.84 (vs US$0.27 in 1Q 2021)

BorgWarner to Provide Dual Inverter for a Leading Chinese OEM, Further Expanding Its Hybrid System Applications

BorgWarner Inc. (NYSE:BWA) completed the acquisition of Santroll Automotive Components from Tianjin Santroll Electric Automobile Technology Co.,Ltd.

Insider recently sold €226k worth of stock

Upcoming dividend of US$0.17 per share

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

BorgWarner to Provide Leading Chinese OEM with 800V SiC Inverters

Borgwarner Declares Quarterly Dividend, Payable on March 15, 2022

Romeo Power, Inc. (NYSE:RMO) acquired remaining 60% stake in BorgWarner Romeo Power LLC from BorgWarner Inc. (NYSE:BWA) for $28.6 million.

Atar Capital LLC acquired Manufacturing Facility and Business in Water Valley, Mississippi from BorgWarner Inc. (NYSE:BWA) for $72 million.

Upcoming dividend of US$0.17 per share

Insider recently sold €130k worth of stock

Insider recently sold €244k worth of stock

Third quarter 2021 earnings released: EPS US$0.40 (vs US$0.54 in 3Q 2020)

Upcoming dividend of US$0.17 per share