Aptiv, a global technology leader committed to making the world safer, greener, and more connected, today unveiled key executive appointments, effective tomorrow. These changes are designed to strengthen leadership in critical product lines and bring additional top-tier talent to the company, further enhancing performance and long-term value creation.
Joseph Massaro, who most recently served as Vice Chairman, Business Operations, and Chief Financial Officer (CFO) of Aptiv, has been appointed Vice Chairman of the Engineered Components Group (ECG). This division includes the company’s portfolio of interconnect and cable management solutions. Massaro joined Aptiv in 2013, and under his leadership as CFO, the company experienced significant growth, operational improvements, and financial transformation.
In his new role, Massaro will focus on driving the growth of ECG’s diverse portfolio, which includes high-growth products across the transportation, aerospace and defense, telecommunications, and industrial sectors.
Varun Laroyia will join Aptiv as Executive Vice President and CFO, succeeding Massaro. Laroyia brings extensive experience from his most recent role at LKQ Corporation, a global leader in providing alternative and specialty parts for the automotive aftermarket. Laroyia has held senior leadership roles in finance and operations, and his track record of improving profitability, expanding margins, and delivering shareholder value aligns well with Aptiv’s strategic priorities.
“We’re confident that these leadership changes will position us to accelerate Aptiv’s market leadership and maximize value creation for our stakeholders,” said Kevin Clark, Chairman and CEO of Aptiv. “Joe has been instrumental in driving transformation and execution across our business. His deep expertise will be critical as he leads the Engineered Components Group to new levels of growth. Varun, with his proven ability to drive financial discipline and performance at scale, is the ideal leader to build on our strong financial foundation and further strengthen Aptiv’s competitive position.”
Massaro added, “I’m excited to take on this new role and lead the Engineered Components Group. ECG has a broad portfolio of innovative, high-margin products with significant growth potential. I look forward to working with Varun and the team to drive even greater success through both organic growth and strategic acquisitions.”
Laroyia commented, “Aptiv’s commitment to developing safe, green, and connected technologies uniquely positions the company to solve some of the most pressing challenges faced by its customers. I’m excited to join the team and help elevate Aptiv’s performance, profitability, and shareholder value while continuing to build on the company’s strong legacy of innovation.”
Joseph Massaro
Joseph R. Massaro has been named Vice Chairman of the Engineered Components Group, a role in which he will be responsible for developing and executing growth strategies for ECG’s businesses, including Connection Systems, HellermannTyton, Winchester Interconnect, and Intercable Automotive Solutions.
Previously, Massaro served as Aptiv’s Senior Vice President and CFO, overseeing Finance and Accounting functions, as well as Supply Chain Management, Information Systems, and Global Business Services. He joined Aptiv in 2013 as Vice President of Internal Audit and was appointed Vice President of Corporate Controller in 2014. In 2016, he became CFO, later adding the role of Senior Vice President, Business Operations.
Before joining Aptiv, Massaro held senior finance and operational roles at ThermoFisher Scientific, Fisher Scientific, and Liberty Lane Partners. He began his career at PricewaterhouseCoopers, where he was a Managing Director in the firm’s Transaction Services practice.
Massaro holds a Bachelor’s Degree in Finance and Economics from Bentley University and an MBA and Master’s in Accounting from Northeastern University.
