Ricardo Inc. Appoints New President


VAN BUREN TOWNSHIP — Ricardo Inc., the U.S. subsidiary of Ricardo plc, the leading independent provider of technology, product innovations and engineering solutions to the world’s automotive, defense, transport and new energy industries, announced today that Thomas Apostolos has been appointed president. Outgoing president Kent Niederhofer will remain with Ricardo Inc., through Oct. 31 to assist in the transition.

“I am extremely pleased to welcome Thomas Apostolos as the new president of Ricardo Inc.,” said Dave Shemmans, CEO of Ricardo plc. “Tom has a solid track record in senior automotive industry leadership positions of delivering growth both organically and through acquisitions.”

Apostolos, 50, has spent the last 19 years of his career at Magna International.  Prior to becoming president of Magna Exteriors & Interiors Asia Pacific in 2007, he was global president of Magna’s Interiors’ Company, Intier Automotive Interiors.  Additionally, he has held general manager positions in a number of Magna Divisions.  Before joining Magna, Apostolos held engineering and management positions at General Motors.  He currently is on the board of directors for two tier one automotive suppliers.

“I firmly believe that he has the skills necessary to take Ricardo’s North American operations to the next level,” added Shemmans.

Apostolos received his bachelor’s degree in electrical engineering from the University of Western Ontario. In addition, he has completed leadership programs at Harvard, the Sloan School of Business at MIT and York University. Apostolos will report directly to Dave Shemmans.