Tenneco Inc. said CEO Brian Kesseler will be replaced by Jim Voss once the pending $1.6 billion acquisition of the supplier by investor Apollo Global Management Inc. is completed.
Voss, the CEO of Apollo, will take over as head of Tenneco once several final conditions are met and the deal closes, the company said Thursday in a filing with the U.S. Securities and Exchange Commission.
The companies announced the acquisition on Feb. 23. Tenneco will continue operating under the Tenneco brand as a wholly owned subsidiary of Pegasus Holdings, the companies said in a press release.
Tenneco's board of directors and shareholders have approved the agreement.