Allison Transmission Welcomes JK Pareek as Vice President of IS&S, CIO
INDIANAPOLIS, August 5, 2021 – Allison Transmission, a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic
transmissions for commercial and defense vehicles, is pleased to announce that that JK Pareek has joined the company as Vice President of Information Systems and Services (IS&S) and Chief Information Officer.
In his new role, JK will be responsible for developing and implementing an information technology strategy that meets Allison Transmission’s business needs, delivers optimal return on investment, and maintains the utmost security. He will provide
direct leadership for all IS&S related functions and manage the company’s network of external service providers.
“I am honored to be joining the innovative, industry-leading team at Allison,” said JK Pareek, Vice President of IS&S, CIO of Allison Transmission. “I’m eager to contribute to the company’s longstanding commitment of
delivering reliable, durable, cost-effective solutions for its customers and partners.”
Prior to joining Allison, JK was the Vice President of Global IT and Chief Information Officer for Nidec Motor Corporation in St. Louis, MO, for five years. In addition, he previously spent three years as Chief Information Officer of the Solar Energy
business unit at SunEdison. He also gained extensive experience working in various IT leadership roles for 18 years at MEMC and Texas Instruments.
JK earned his Master of Science in Mechanical Engineering from Pennsylvania State University in State College, PA, and his Bachelor of Science in Mechanical Engineering from the Indian Institute of Technology located in Chennai (Madras), India.
Aug 05, 2021
Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding future financial results. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plans," "project," "anticipate," "believe," "estimate," "predict," "intend," "forecast," "could," "potential," "continue" or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. defense spending; general economic and industry conditions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; our intention to pay dividends and repurchase shares of our common stock; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.
SOURCE Allison Transmission Holdings Inc.