Description
BorgWarner Inc. is an American multinational automotive supplier headquartered in Auburn Hills, Michigan. In 2021 it had facilities at 96 sites in 24 countries and employed about 50,000 people. It is one of the 25 largest automotive suppliers in the world. Frédéric Lissalde has been CEO since 2018.
In 2021 the board of directors consisted of Frédéric Lissalde (president and CEO), Alexis P. Michas, Nelda J. Connors,Dennis C. Cuneo, David S. Haffner, Michael S. Hanley, Paul A. Mascarenas, John R. McKernan, Jr., Deborah D. McWhinney, and Vicki L. Sato.
The company was formed in 1928 as Borg-Warner Corporation. It was formed as a fusion of companies including Borg & Beck, Marvel-Schebler, Warner Gear and Mechanics Universal Joint. In 1987 Borg-Warner Corporation ceased to exist as a result of a series of complex financial transactions, although a new company of the same name (still Borg-Warner Corporation) continued the business. At the same time, Borg-Warner Automotive Inc. was created as a subsidiary of the new company; the mother company, the new Borg-Warner Corporation, was later known as Borg-Warner Security Corporation. In 1993 Borg-Warner Automotive Inc. was spun-off from Borg-Warner Security Corporation and became an independent company . In 2005, BorgWarner's world headquarters was moved from Chicago to the metro Detroit area. Over the years, BorgWarner has bought many other automotive companies that have become part of BorgWarner, giving BorgWarner a very wide (as in large) pedigree in the automotive world.
Since 1936, the company has offered an annual prize for the winner of the Indianapolis 500.
