NORTHVILLE, Mich. - Cooper Standard (NYSE: CPS) has announced the promotion of Alison Nudd to Vice President and Chief Accounting Officer, effective March 1, 2024. She will take over the role from Amy Kulikowski, who is leaving the company to explore other career avenues.
Nudd, who will be based at the company’s global headquarters in Northville, Michigan, will oversee the accounting function, and financial reporting, including SEC reporting, financial systems, and global business services. She will report directly to Jonathan Banas, the executive Vice President and Chief Financial Officer.
Her promotion follows a tenure as vice president of global internal audit and compliance, where she led the company’s internal audit and compliance activities, including the Sarbanes-Oxley program and enterprise risk management. Before joining Cooper Standard in 2020, Nudd held various roles at Owens Corning (NYSE:OC) and Mohawk Industries (NYSE:MHK), where she was responsible for financial planning and analysis and external reporting, respectively.
Jonathan Banas praised Nudd's leadership and contributions to the company, expressing excitement for her continued positive impact on the finance and accounting team.
Nudd's career began at GE Capital, and she is a certified public accountant (CPA) with a BBA in accounting from Georgia State University. She is also a member of the American Institute of CPAs.
Cooper Standard, a global supplier of sealing and fluid handling systems and components, operates in 21 countries and employs approximately 23,000 people. The company is known for its materials science and manufacturing expertise, offering engineered solutions for the transportation and industrial markets.
The information in this article is based on a press release.
InvestingPro Insights
As Cooper Standard (NYSE: CPS) welcomes Alison Nudd to her new role as vice president and chief accounting officer, the company's financial health remains a topic of interest for investors. According to InvestingPro data, Cooper Standard has a market capitalization of $314.71 million, reflecting the company's size and market value. Despite a 12.68% growth in revenue over the last twelve months as of Q3 2023, the company's gross profit margin stands at a modest 10.04%, indicating potential challenges in cost management and profitability.
InvestingPro Tips suggest that Cooper Standard operates with a significant debt burden and is quickly burning through cash, which could impact its financial strategies and decisions. Furthermore, the company's stock price has experienced considerable volatility, and analysts do not anticipate profitability this year, as evidenced by a negative P/E ratio of -1.34. These factors may influence Nudd's priorities as she steps into her role overseeing financial reporting and systems.
For investors seeking a deeper analysis of Cooper Standard's financial outlook, InvestingPro offers additional insights. There are 7 more InvestingPro Tips available for Cooper Standard, which can provide a comprehensive understanding of the company's financial position and future prospects. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/CPS.
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