Commercial Vehicle Group Names David Ruppel CEO, Reports Third-Quarter Profit
The New Albany-based vehicle components supplier announced the leadership transition alongside higher revenue and raised full-year guidance.
In disclosures released Nov. 2, Commercial Vehicle Group announced that David Ruppel is scheduled to succeed James Ray as president and chief executive officer on Monday, Nov. 9. The company also appointed Ruppel, an executive at Littelfuse, to its board of directors, while Ray will remain as a senior advisor through his retirement on Jan. 5, 2027. The vehicle components supplier noted that Ray's resignation did not result from any disagreement with the company on operations, policies or practices.
Alongside the leadership succession, the New Albany-based manufacturer reported that third-quarter revenue rose 36.5% to $208.1 million, driven by increased demand across its business segments. Net income from continuing operations was $5.6 million, or $0.14 per diluted share, compared with a net loss of $6.8 million, or $0.20 per diluted share, in the prior-year period.
Commercial Vehicle Group also raised its full-year 2026 revenue guidance to between $755 million and $775 million, up from its prior projection of $725 million to $755 million. The company narrowed its adjusted EBITDA range to between $26 million and $29 million, citing incremental expenses related to the chief executive transition. The accessible disclosures do not detail compensation terms for Ruppel.
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In disclosures released Nov. 2, Commercial Vehicle Group announced that David Ruppel is scheduled to succeed James Ray as president and chief executive officer on Monday, Nov. 9.
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Appoints David Ruppel as President and CEO and a member of the Board NEW ALBANY, Ohio, Nov. 02, 2026 (GLOBE NEWSWIRE) -- CVG (NASDAQ: CVGI), a diversified industrial products and services company, today announced financial results for its third quarter ended September 30, 2026.
In disclosures released Nov. 2, Commercial Vehicle Group announced that David Ruppel is scheduled to succeed James Ray as president and chief executive officer on Monday, Nov. 9.
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COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES
In disclosures released Nov. 2, Commercial Vehicle Group announced that David Ruppel is scheduled to succeed James Ray as president and chief executive officer on Monday, Nov. 9.
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The Company also announced that its Board of Directors (the “Board”) has appointed David Ruppel as the Company’s next President and Chief Executive Officer and a member of the Board, in each case effective November 9, 2026. Mr. Ruppel will succeed James Ray, who will step down as President and Chief Executive Officer and as a member of the Board on November 9, 2026 and will remain with CVG as a Senior Advisor through his retirement on January 5, 2027.
The company also appointed Ruppel, an executive at Littelfuse, to its board of directors, while Ray will remain as a senior advisor through his retirement on Jan. 5, 2027.
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Mr. Ruppel brings more than 25 years of operational and general management experience across many of CVG’s key end markets, including commercial vehicles, electrical systems, and industrials. He currently serves as Senior Vice President and General Manager, Transportation & Logistics at Littelfuse, Inc., with global P&L responsibility for a $700 million segment, having previously led its Commercial Vehicle products business.
The company also appointed Ruppel, an executive at Littelfuse, to its board of directors, while Ray will remain as a senior advisor through his retirement on Jan. 5, 2027.
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The Company also announced that its Board of Directors (the “Board”) has appointed David Ruppel as the Company’s next President and Chief Executive Officer and a member of the Board, in each case effective November 9, 2026. Mr. Ruppel will succeed James Ray, who will step down as President and Chief Executive Officer and as a member of the Board on November 9, 2026 and will remain with CVG as a Senior Advisor through his retirement on January 5, 2027.
The vehicle components supplier noted that Ray's resignation did not result from any disagreement with the company on operations, policies or practices.
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CVG is a global provider of systems, assemblies and components to global commercial vehicle markets and electric vehicle markets.
The vehicle components supplier noted that Ray's resignation did not result from any disagreement with the company on operations, policies or practices.
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Mr. Ray’s resignation did not result from any disagreement with the Company on any matter relating to its operations, policies or practices.
Alongside the leadership succession, the New Albany-based manufacturer reported that third-quarter revenue rose 36.5% to $208.1 million, driven by increased demand across its business segments.
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NEW ALBANY, Ohio, Nov. 02, 2026 (GLOBE NEWSWIRE) -- CVG (NASDAQ: CVGI), a diversified industrial products and services company, today announced financial results for its third quarter ended September 30, 2026.
Alongside the leadership succession, the New Albany-based manufacturer reported that third-quarter revenue rose 36.5% to $208.1 million, driven by increased demand across its business segments.
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Revenues of $208.1 million, up 36.5%, primarily driven by increased demand across all three segments.
Net income from continuing operations was $5.6 million, or $0.14 per diluted share, compared with a net loss of $6.8 million, or $0.20 per diluted share, in the prior-year period.
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Net income from continuing operations was $5.6 million, or $0.14 per diluted share, for the third quarter 2026 compared to net loss of $6.8 million, or $(0.20) per diluted share, in the prior year period.
Commercial Vehicle Group also raised its full-year 2026 revenue guidance to between $755 million and $775 million, up from its prior projection of $725 million to $755 million.
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CVG updated the Company's outlook for the full year 2026, based on current market conditions: MetricPrior 2026 Outlook ($ millions)Updated 2026 Outlook ($ millions)Revenues$725 - $755$755 - $775Adjusted EBITDA$26 - $31$26 - $29Free Cash FlowPositivePositive
The company narrowed its adjusted EBITDA range to between $26 million and $29 million, citing incremental expenses related to the chief executive transition.
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CVG updated the Company's outlook for the full year 2026, based on current market conditions: MetricPrior 2026 Outlook ($ millions)Updated 2026 Outlook ($ millions)Revenues$725 - $755$755 - $775Adjusted EBITDA$26 - $31$26 - $29Free Cash FlowPositivePositive
The company narrowed its adjusted EBITDA range to between $26 million and $29 million, citing incremental expenses related to the chief executive transition.
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We are also reducing the top end of the Adjusted EBITDA guidance range, reflecting incremental expenses related to the CEO succession.