IAC Group Names Dennis Richardville Interim Chief Financial Officer

LUXEMBOURG, (Feb. 17, 2012) – IAC Group has appointed Dennis Richardville interim chief financial officer (CFO), effective March 13, 2012. His responsibilities will include oversight and management of the company’s global finance operations. Mr. Richardville will serve in this interim role while the company conducts a search for a permanent successor to Jeff Vanneste, who will leave the organization effective March 13, 2012.

Dennis Richardville, Interim Chief Financial Officer

Dennis Richardville, Interim Chief Financial Officer

Mr. Richardville has served as vice president, finance and global corporate controller. He brings extensive financial experience, continuity and leadership to the position and has been with IAC since the company was established in North America and Asia in March 2007. Prior to joining IAC, he held various financial management positions with companies including Lear Corporation, Hayes Lemmerz and MSX. Mr. Richardville received a Bachelor’s degree in Accounting from Michigan State University.

“We are pleased to have a financial executive with Dennis’ level of experience and extensive knowledge of our business who can step into this very important role,” said IAC Group Global Co-Chief Executive Officer and President of North America and Asia, James Kamsickas. “This will allow for a smooth transition as we conduct a comprehensive search for a permanent CFO.”

“Through this transition, we will remain focused on our 2012 business plan and the flawless execution of our customer launch schedule for the year,” said Jens Höhnel, IAC Group Global Co-Chief Executive Officer and President of Europe. “We do not anticipate any disruption to our supplier or customer programs as a result of this transition.”