Gasgoo Munich- Aptiv (NYSE: APTV) unveiled the core leadership team for its Electrical Distribution Systems (EDS) business on the evening of January 27. The unit is slated to spin off to shareholders in a tax-free transaction on April 1, 2026, emerging as an independent publicly traded company named Versigent. Shares will list on the New York Stock Exchange under the ticker symbol "VGNT."
Image Source: Aptiv China
Joseph Liotine has been named chief executive officer of Versigent and will join its board of directors. Liotine joined Aptiv in April 2024 as president of Signal & Power Solutions, moving in November to executive vice president and president of EDS. In that role, he spearheaded the business's global strategy, focusing on optimizing its footprint, boosting manufacturing efficiency, and driving profitable revenue growth across the automotive and commercial vehicle sectors.
Prior to Aptiv, Liotine served as chief executive of Briggs & Stratton, the world's largest producer of engines for outdoor power equipment. Before that, he spent nearly two decades at Whirlpool, rising through senior management ranks to become president and chief operating officer. He began his career at PepsiCo, holding various sales and financial management positions.
Douglas Ostermann has been appointed chief financial officer of Versigent. Ostermann has served as vice president of finance for Aptiv's EDS business since December 2025, overseeing all financial operations for the segment. Previously, he held the role of chief financial officer at Stellantis, where he also led global financial services and joint ventures and mergers. His tenure included three years in Shanghai as Stellantis China's chief financial officer and head of strategy, and later as chief operating officer for the region. Ostermann also brings experience from Archer Daniels Midland (ADM) and General Motors, with a strong background in treasury, business development, and marketing.
Image Source: Aptiv
"Joe has a proven track record of successfully leading corporate transformation and growth," said Kevin Clark, chairman and chief executive officer of Aptiv. "During his time at Aptiv, he has driven initiatives to optimize the global footprint of the EDS business, improve manufacturing efficiency, deepen customer relationships, and deliver solid results. Coupled with Doug's deep experience in leading finance and M&A within the automotive industry, Versigent has assembled a world-class management team, establishing a strong foundation for its success as an independent company."
"Following the spinoff, Versigent will emerge as a newly listed public company," Liotine said. "With top-tier talent, global scale, and industry-leading vehicle architecture optimization capabilities, Versigent is uniquely positioned to meet the growing demand for next-generation electrical architectures and power feature-rich modern vehicle platforms."
"The name Versigent reflects our steadfast commitment to delivering flexible, intelligent electrical solutions that ensure safe and efficient power, signal, and data transmission across all architectures," he added. "I am honored to lead this new company as we build on our century-long legacy as a trusted partner to OEMs in the automotive and commercial vehicle markets."
