Pinnacle Engines’ appoints 5 members to Asian Business Advisory Board
Pinnacle Engines announced its appointment of 5 industry leaders to its newly formed Asian Business Advisory Board to offer strategic business and technological advice to the company’s executive team. Pinnacle Engines also announced its Series C financing closure to bring total investment in the company to $30+ million.
“The combined power of this additional capital and new advisory board gives us the resources and expertise to innovate rapidly in emerging markets. These advisors bring deep industry knowledge and relationships to our company,” says Ron Hoge, CEO and Chairman of the Board at Pinnacle Engines. “With increasing demand around the world for sustainable automotive solutions, they will greatly assist Pinnacle Engines in introducing its engine technology into multiple Asian market segments.”
“The evolving Asian automotive landscape offers tremendous opportunity for new technologies that enable next generation efficiency and performance. Pinnacle Engines is poised to capture key emerging markets with its low cost, low emissions design and I am thrilled to be invited to advise them at this critical juncture,” commented John Parker, former Executive Vice President at Ford Motor Company.
Asian Advisory Board members are: Phil Murtaugh who has worked 33 years at General Motors, having been Chairman and CEO of GM China Group apart from holding leadership positions at Chrysler, Isuzu and CEO of Coda Automotive. He is a member of Pinnacle’s Board of Directors.
John Parker’s expertise in emerging markets in Asia and Africa in his 41-year career at Ford Motor Company also saw him as President-Ford India, Vice Chairman & EVP-Mazda Motor Company, and EVP- Ford Asia Pacific & Africa.
BVR Subbu, a former President of Hyundai India was previously with Tata Administrative Services and headed marketing at Tata Motors being responsible for formulating and implementing marketing, sales, service and financing startegies for both commercial vehicles and passenger cars.
Hong Liang Lu who has been a friend and informal advisor to Pinnacle Engines these past few years, and has been President & CEO of Kyocera Unison. He founded Unitech Industries in 1991.
Freeman Shen who is a Board Member and Group Vice President at Zhejiang Geely Holding Group and Chairman of Volvo Car Group China. He was previosuly Chairman and CEO of Geely Zhaoyuan International having played a pivotal role in Geely’s acquisition and integration of the Volvo Car Corporation. Prior to that, Freeman was CEO of Fiat Powertrain China and President of China operations at BorgWarner Inc.