New year sees leadership changes across the industry
27 January 2025
January ushered in several leadership transitions across the power industry as several companies made changes to the highest leadership levels of their organizations. Here’s a roundup of the newsmakers announced at the beginning of 2025.
Cespira: a new president and CEO

Carlos Gonzalez has been named president and CEO of Cespira, a joint venture between Westport Fuel Systems Inc. and Volvo Group specializing in high-pressure direct injection (HPDI) fuel systems. Gonzalez, who assumes the role on April 1, 2025, brings over 24 years of experience in the automotive and commercial vehicle industries, including a senior position at ZF Group. He succeeds Dan Sceli, Westport’s CEO, who served as interim leader and will continue as a board member.
Cespira, headquartered in Vancouver, Canada, was established in June 2024. Volvo invested about $28 million, while Westport contributed HPDI-related assets, including intellectual property. The technology enables internal combustion (IC) engines to operate on renewable fuels like biogas and hydrogen, reducing greenhouse gas (GHG) emissions for heavy-duty and off-road applications.
Gonzalez emphasized his commitment to sustainability and innovation, aligning with Cespira’s mission to decarbonize transportation. Sceli highlighted Gonzalez’s expertise in business development and supply chain management as critical for Cespira’s growth.
The Cespira joint venture builds on nearly three decades of collaboration between Westport and Volvo. HPDI technology has been used in Volvo trucks for over five years, proving effective in significantly reducing carbon dioxide (CO2) emissions in liquefied biogas applications, said Lars Stenqvist, chief technology officer for Volvo Group, in announcing the joint venture. The venture aims to accelerate adoption of sustainable solutions for hard-to-abate sectors, leveraging IC engines powered by renewable fuels and hydrogen.
Helios: also a new president and CEO

Sean P. Bagan has been named president and CEO of Helios Technologies, a supplier of engineered motion control and electronic controls. Bagan previously served as chief financial officer (CFO) for Helios, but stepped into an interim role as president and CEO in July 2024 when the Helios board terminated Josef Matosevic from those roles after determining that Matosevic “violated company policy and demonstrated behavior that was inconsistent with the company’s shared values and Code of Business Conduct and Ethics.”
Bagan will continue as CFO until his position can be backfilled.
“I believe the company, with its deep history of innovation, is uniquely positioned to deliver compounded growth that drives shareholder value creation over time,” Bagan said.
Before coming to Helios, Bagan spent 23 years at Polaris Inc.
HED: a new CEO
John Thomas has been appointed CEO of HED Inc., a Hartford, Wis.-based supplier of controllers, displays, keypads and telematics solutions. HED said Thomas, an executive with over 20 years of global C-suite experience, is known for driving growth, operational excellence and transformative leadership. He previously held senior roles at CentroMotion and Actuant Corp.

Thomas said he looked forward to continuing to foster HED’s innovation and success. “Together, we will build on HED’s strong foundation in providing rugged control technology while achieving new growth for HED and our OEM customers,” he said.
Roger G. Hill II, chairman of HED’s board, praised Thomas’s ability to build high-performing teams, optimize business processes and enhance client relationships. Hill expressed confidence that Thomas’s strategic vision and dynamic leadership would propel HED into a new era of growth and innovation.
In April 2024, Power Progress reported that HED expanded its product portfolio with the introduction of the CL-640 heating, ventilation and air conditioning (HVAC) control panel, designed for rugged on- and off-highway vehicle applications. The panel features durable materials, customizable options for OEM branding and heavy-duty haptics for operator feedback in harsh conditions.
CNH: an expanded leadership role for Cepollina

Last November, Case Construction Equipment, a subsidiary of CNH Industries, appointed 26-year CNH veteran Fabrizio Cepollina as head of construction for Europe. CNH recently announced that his role has expanded to include leadership of Europe, Middle East and Africa (EMEA), including Turkey and the Commonwealth of Independent States (CIS).
Cepollina’s background before his appointment included the EMEA and APAC regions. In a press release, CNH said the expansion of responsibilities would strengthen the working relationships among regions, which would benefit stakeholders, from customers to dealers and partners.
Roth Industries: mourning a leader
Germany’s Roth Industries announced that company founder and senior shareholder Manfred Roth died on January 3 at the age of 85. Having joined the company in 1961 at 21 due to his father’s illness, he took over entrepreneurial responsibility. In 2019, Roth retired from management and remained on the executive board.
In announcing Roth’s death, the company credited him with developing the artisan business founded by Roth’s father into an international company that now addresses energy systems as well as hydraulic technology.
Just prior to his death, Roth announced the establishment of the Manfred Roth Foundation. The company announced the foundation’s intention to “pursue charitable, benevolent and ecclesiastical purposes” with education, support and promotion playing central roles.
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