Gentherm (THRM) Announces Planned Succession of General Manager, Asia Automotive

Gentherm (NASDAQ: THRM) is implementing a planned succession process for the Company’s General Manager, Asia Automotive. Hui (Helen) Xu has concluded her foreign secondment assignment for this role. As discussed in more detail herein, the Company is pleased to promote Mr. Leo Wang as Ms. Xu’s successor.

Coincident with the completion of her foreign secondment assignment, on and effective December 13, 2024, the Company terminated Ms. Xu from her role as the Company’s Senior Vice President and General Manager, Asia Automotive. Ms. Xu is expected to remain as a non-executive employee of the Company through December 31, 2024 to support the orderly transition of her responsibilities. In accordance with the previously disclosed Severance Pay Plan for Eligible Employees of Gentherm Incorporated pursuant to which the Company has determined to provide specified benefits for all officers of the Company and other specified persons, Ms. Xu is eligible to receive the severance benefits specified for a termination without Cause (as defined therein). She will receive such benefits if she remains an employee of the Company through December 31, 2024 and subject to the other conditions specified in the severance plan, including signing a general release of claims that becomes irrevocable for the benefit of the Company and its subsidiaries.

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