Dorman Products Names CFO, COO and Two Presidents to Accelerate Growth
Dorman Products appointed Charles Rayfield as CFO (post-10-K), Nathan Porter as COO, Eric Luftig President of Light Duty and Steven Bashir President of Heavy Duty. Q3 2025 tariff-driven price hikes lifted revenue despite flat volumes, driving adjusted net income and EBITDA sharply higher, while shares remain rated hold.
1. Appointment of Charles W. Rayfield as CFO
Dorman Products appointed Charles W. Rayfield as Senior Vice President and Chief Financial Officer Designate, succeeding David M. Hession, who retired after a 20-year tenure. Rayfield’s formal role will begin on the first business day following filing of the Company’s Annual Report on Form 10-K for fiscal 2025. He brings over 25 years of financial leadership experience from Lutron Electronics Corporation and Knoll Inc., where he oversaw annual revenues exceeding $1 billion, and earlier tenures at BioTelemetry and The Providence Service Corporation.
2. Nathan J. Porter Named Chief Operations Officer
Nathan J. Porter joins as Senior Vice President and Chief Operations Officer, responsible for distribution, manufacturing, logistics and sourcing across Dorman’s Light Duty and Heavy Duty segments. Porter led operations at ADI Global Distribution, managing 40 distribution centers in North America, and prior to that orchestrated the integration of Snap One into ADI following its 2024 acquisition. His background includes senior operations roles at Collins Aerospace and General Motors, where he optimized supply chains supporting over 5,000 SKUs.
3. Leadership Promotions in Light Duty and Heavy Duty
Eric B. Luftig was promoted to President, Light Duty after four years directing Product, Engineering, Quality and Manufacturing for that segment. Luftig will now oversee sales, marketing and product development for a division that generated 60% of Dorman’s $1.2 billion in 2024 revenues. Steven A. Bashir joined as President, Heavy Duty, succeeding retiring segment head John R. McKnight. Bashir previously led U.S. and Canada sales at ZF Services, driving a 15% annual volume increase in commercial vehicle aftermarket parts.
4. Growth Strategy and Operational Excellence Initiatives
These leadership changes underpin Dorman’s plan to accelerate its multi-year growth strategy, targeting mid-single-digit organic revenue gains and low-teens EBITDA margin by 2028. CEO Kevin Olsen highlighted initiatives to expand supplier diversification—currently spanning 200 global partners—and advance digital order management systems. Management projects unlocking $20 million in annual cost savings through improved logistics and sourcing efficiencies.