Leo Wang
GenthermAbout Leo Wang
Leo Wang, age 45, is Vice President and General Manager, Asia Automotive (Managing Director, Asia) at Gentherm, appointed effective December 14, 2024. He joined Gentherm in 2022, was promoted to Country Manager, China in January 2023, and brings extensive P&L leadership from Garrett Motion (Honeywell Transportation Systems), Eaton Vehicle Group, and Shanghai Automotive Brake System. He holds an M.S. in Mechanical Engineering (Shanghai University) and an MBA from Shanghai Jiaotong University and KEDGE Business School, France . Company performance context during his recent tenure shows steady revenue and EBITDA trends (table below).
Company Performance Context (Recent Quarters)
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenue ($USD) | $352,914,000 | $353,854,000 | $375,090,000 | $386,870,000 |
| EBITDA ($USD) | $39,800,000* | $36,702,000* | $39,275,000* | $41,233,000* |
Values retrieved from S&P Global.*
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Gentherm | VP & GM, Asia Automotive (Managing Director, Asia) | 2024–Present | Leads Asia Automotive; succession from prior SVP to strengthen regional execution . |
| Gentherm | Country Manager, China | 2023–2024 | Led China market; prepared as successor for Asia GM role . |
| Gentherm | China CBU Executive Director | 2022–2023 | Drove China business unit execution ahead of promotion . |
| Garrett Motion (Honeywell Transportation Systems) | GM, China PV Gasoline Boosting System (full P&L) | 2020–2021 | Full P&L responsibility; operational leadership in China turbo systems . |
| Garrett Motion (Honeywell Transportation Systems) | Increasing leadership roles | 2010–2020 | Progressive operating, engineering, and program roles building domain expertise . |
| Eaton Vehicle Group | Engineering/Operations roles | 2006–2010 | Automotive systems experience and operational foundation . |
| Shanghai Automotive Brake System | Early engineering role | 2005–2006 | Entry into automotive manufacturing and engineering . |
Fixed Compensation
Not disclosed for Leo Wang in the latest proxy; he is not a named executive officer (NEO) for 2024 .
Performance Compensation
Gentherm’s senior-level incentive design (applicable to executive officers) emphasizes pay-for-performance with standardized metrics and governance.
Annual Cash Incentive (Senior Level Bonus Program)
| Metric | Weighting | Definition/Scope | Payout Cap | Notes |
|---|---|---|---|---|
| Adjusted EBITDA | 40% | Company Adjusted EBITDA, subject to objective adjustment policy | 200% | Pre-established objective goals; each component pays independently . |
| Revenue | 40% | Company revenue growth/level | 200% | Focus on core financial metrics for shareholder value . |
| Strategic Goals | 20% | Automotive New Business Awards (40%), New Technology Wins (40%), Sustainability-related Performance (20%) | 200% | Diversifies risk and aligns with strategy . |
Long-Term Incentives – PSUs
| Metric | Weight of Target PSUs | Performance Period | Modifier | Vesting |
|---|---|---|---|---|
| Three-Year Relative Revenue Growth | 25% | 3-year | rTSR ±25% | Cliff vest after 3 years for any earned PSUs . |
| Adjusted EBITDA Margin Growth (Annual and Three-year) | 75% | 1- and 3-year | rTSR ±25% | Cliff vest after 3 years; aggregate PSU payout cap 250% incl. modifier . |
RSUs
| Component | Program Design | Vesting |
|---|---|---|
| Time-based RSUs | Target grant values calibrated to role/market; for NEOs, RSUs typically 40% of total grant value | Ratable annual vesting over 3 years . |
Equity grant guidelines: annual awards generally mid-March in open trading windows; for promotions, grants occur within 60 days if window is open or on the first business day of the following month if not; no repricing; option/SAR strike price ≥ 100% of fair market value on grant date .
Equity Ownership & Alignment
| Topic | Policy/Status | Implications |
|---|---|---|
| Stock Ownership Guidelines | CEO: 300% of base; other executive officers/designated employees: 100% of base; retain all vested shares until guideline met | Encourages skin-in-the-game; retention of vested shares reduces sell pressure . |
| Hedging/Pledging | Prohibited for employees (including officers) and directors; no margin accounts; Rule 10b5-1 plan guidelines with cooling-off, no overlapping plans, pre-clearance | Low pledging/forced-selling risk; structured trading reduces headline risk . |
| Section 16 Filings | Leo Wang’s initial Form 3 was late (filed Jan 2, 2025 vs. due Dec 26, 2024) and amended Jan 10, 2025 to include omitted holdings | Minor administrative lapse, promptly corrected; monitor future filings for changes . |
Employment Terms
Not disclosed for Leo Wang. Company-wide severance/change-in-control specifics in proxy apply primarily to U.S.-based NEOs and may not extend to Asia-based executives .
Expertise & Qualifications
- Mechanical engineering and MBA credentials; extensive China-focused P&L leadership in automotive systems .
- Domain expertise in engineering, sales, program management, and general management .
Compensation Committee & Governance Context
- Committee Members: John Stacey (Chair), Charles Kummeth, Betsy Meter .
- Governance features: clawback policy; stock ownership guidelines; equity grant guidelines; securities trading policy; prohibition on hedging/pledging; no single-trigger CIC for NEOs; no excise tax gross-ups; no underwater option repricing .
- Say-on-pay approval: ~86% at 2024 annual meeting for 2023 NEO compensation .
- Relative TSR peer group used to measure PSU modifier includes key auto suppliers and OEMs (e.g., Lear, Magna, BorgWarner, GM, Ford, Visteon, Gentex, etc.) .
Investment Implications
- New Asia GM with prior full P&L responsibility in China turbo systems and multi-functional leadership, suggesting execution capability in a strategically critical geography .
- Alignment and low sell-pressure risk are supported by retention until ownership guideline, and prohibitions on hedging/pledging; expect promotional or annual equity grants per guidelines, potentially creating scheduled vesting over three years rather than opportunistic selling .
- Monitor upcoming equity grants per mid-March cycle or promotion timing and subsequent Section 16 filings/form 4s for trading signals; prior minor late Form 3 was corrected, but continued monitoring is prudent .
- Company incentive design emphasizes Adjusted EBITDA and Revenue with rTSR modifiers on PSUs, aligning management rewards with shareholder outcomes; while Leo’s specific targets/payouts are not disclosed, the program indicates disciplined incentives across executive ranks .