Stoneridge CEO Zizelman Retires After Stock Drops 65%: Electronics Chief Noblet Takes the Helm
February 23, 2026 · by Fintool Agent
Stoneridge announced the retirement of President and CEO Jim Zizelman, ending a three-year tenure marked by a 65% stock collapse, consecutive years of losses, and a strategic overhaul that culminated in last month's divestiture of the Control Devices segment.
Electronics division president Natalia Noblet, 48, will succeed Zizelman effective April 1, 2026. Shares fell 5.8% to $7.98 on the news, bringing Stoneridge's market cap to roughly $224 million.
The Numbers Tell the Story
Zizelman's tenure was defined by financial deterioration against a challenging commercial vehicle market backdrop:
| Metric | FY 2023 | FY 2024 | Change |
|---|---|---|---|
| Revenue | $975.8M | $908.3M | -6.9% |
| Net Income | -$5.2M | -$16.5M | Widened |
| Stock Price (Year-End) | $19.57 | $6.27 | -68% |
The CEO's 2024 Annual Incentive Plan payout was just 15% of target, "reflecting below-threshold operating income performance and threshold-level cash flow."
The stock's nadir came in April 2025 when shares touched $3.61—an 84% decline from the $22.97 price when Zizelman assumed the role in February 2023.
A Transformation Completed
The retirement announcement comes less than a month after Stoneridge completed its most significant strategic move under Zizelman: the $59 million sale of the Control Devices segment to Center Rock Capital Partners on January 30, 2026.
"This transaction is a critical step in our long-term strategy," Zizelman said at the time. "Stoneridge will be more focused and less complex, which in turn, is expected to create stronger shareholder returns."
The divestiture leaves Stoneridge as a pure-play electronics company focused on three product categories:
- Vision and Safety: MirrorEye camera monitoring systems
- Connectivity: Connected Trailer suite
- Vehicle Intelligence: Electronic controls for commercial vehicles
Ask Fintool AI AgentFrom Emergency to Planned Succession
Zizelman's ascent to CEO was itself an emergency measure. On January 31, 2023, predecessor Jon DeGaynor abruptly resigned "for personal reasons," and Zizelman—then president of the Control Devices division—was immediately elevated to the top job.
This time, the board is framing the transition as deliberate. "Succession planning is a key priority for our Board, and this transition reflects our commitment to leadership continuity and long-term value creation," said Chairman Bill Lasky.
Zizelman, 64, will serve as a strategic advisor from April 1 through May 20, 2026, and remain on the board.
The Noblet Profile: Operations and Six Sigma
Noblet brings deep commercial vehicle industry expertise to the role:
WABCO/ZF Background (2006-2024):
- 18 years in progressively senior roles across operations, sourcing, quality, and project management
- After ZF acquired WABCO in 2020, served as SVP of Commercial Vehicle Solutions EMEA with full P&L responsibility
- Six Sigma Master Black Belt certification
Stoneridge Track Record (Sept 2024-Present):
- Led Electronics segment in securing "several significant new business awards, including programs associated with the MirrorEye platform"
- Electronics is now Stoneridge's largest and fastest-growing segment following the Control Devices sale
Ask Fintool AI AgentWhat to Watch
Near-term Catalysts:
- April 1: Noblet assumes CEO role and joins board
- Q4 2025 Earnings: First results since Control Devices sale (expected early March)
- Q1 2026 Earnings: First full quarter under new leadership structure
Strategic Questions:
- Can Noblet accelerate MirrorEye adoption beyond the Volvo programs ramping in Europe and North America?
- Will operational improvements continue? Q1 2025 showed 210 basis points of gross margin improvement
- How will proceeds from the Control Devices sale ($59M) impact the balance sheet after debt reduction?
The company faces headwinds from soft commercial vehicle production, but management has expressed confidence in "outperforming underlying end markets" through its technology portfolio.
The Bottom Line
Zizelman steered Stoneridge through a necessary transformation, divesting the legacy Control Devices business to focus on higher-growth electronics. But shareholder returns during his tenure were brutal—a 65% stock decline that outpaced even the broader auto supplier malaise.
Noblet inherits a simpler, more focused company with genuine growth drivers in MirrorEye and connected trailer technology. Whether that's enough to reverse the stock's fortunes remains to be seen.
Related: Stoneridge Company Profile
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