Last updated on May 22nd, 2020 at 11:58 am
Wallace was previously executive vice president and president of Maumee, Ohio-based Dana Inc.’s Commercial Vehicle Drive and Motion Systems business. He was responsible for the business unit’s strategy, product planning, engineering and program management for both traditional and electrified drivelines.
“I’m pleased to join Clarios at an exciting point in the company’s history as it continues to cement its reputation in the marketplace and enhance its relationships with customers,” Wallace said.
Clarios, formerly known as Johnson Controls Power Solutions, is the world’s largest automotive battery manufacturer and one of the oldest in the U.S. with roots dating back to the early 1900s.
The company has a robust portfolio of battery technologies designed to power virtually every type of passenger, commercial and recreational vehicle, from conventional to fully electric. Its primary customers are global automakers, wholesale distributors, auto retailers and big box stores.
In May 2019, JCI completed its $13.2 billion sale of its power solutions business to Brookfield Business Partners, a Canadian private equity firm, and Caisse de dépôt et placement du Québec, an institutional investor that manages public pension plans in Quebec.
In fiscal 2018, JCI’s Power Solutions business generated approximately $8 billion in annual revenue and produced about 150 million batteries each year.
The company, renamed Clarios, now has 16,000 employees across 50 manufacturing, distribution, and recycling locations with 500 employees at its headquarters in Glendale at the campus is shares with Johnson Controls.
Previously, Wallace held several leadership roles for Webasto, a global automotive parts supplier, including as president and CEO at Webasto Product North America. He has also held positions at Magna International and Cooper Automotive.
“Mark has a demonstrated history of driving revenue growth and improving profit margins,” said John Barkhouse, CEO in residence, managing director of business operations for Brookfield Asset Management. “His experience as a leader with extensive knowledge of the OE and aftermarket industries ensures Clarios and its customers are in good hands, and our strategic plan will continue to advance globally.”
Clarios was recently featured on the cover of BizTimes. Read the cover story here.
Get more news and insight in the April 27 issue of BizTimes Milwaukee. Subscribe to get updates in your inbox here.