Dorman Products has appointed Charles W. Rayfield as Senior Vice President and Chief Financial Officer Designate, succeeding David M. Hession upon his planned retirement. Rayfield brings more than 25 years of finance leadership, most recently serving as CFO at Lutron Electronics Corporation and previously at Knoll Inc. His formal assumption of the CFO role will occur immediately after Dorman files its annual 10-K for fiscal 2025. Investors should note that this transition follows Hession’s tenure during which Dorman maintained a return on invested capital above 12% and a net debt to EBITDA ratio near 1.5×, metrics Rayfield will be tasked with protecting and improving through disciplined capital allocation and margin expansion initiatives.

Nathan J. Porter joins Dorman as Senior Vice President and Chief Operations Officer, taking responsibility for end-to-end operations across both Light Duty and Heavy Duty segments. Porter’s background includes scaling distribution and manufacturing networks at ADI Global Distribution and Snap One, where he oversaw a 15% reduction in logistics costs and a 10% improvement in on-time delivery rates. At Dorman, he will lead an operations footprint that spans 12 distribution centers and five manufacturing facilities, with the goal of lifting overall inventory turns above the current 4.8× level and reducing lead times by up to two days in key markets.

Eric B. Luftig has been promoted to President, Light Duty, overseeing a business unit that delivered 8% organic revenue growth in fiscal 2025 through targeted price management and supplier diversification. Luftig’s 30-year career spans senior roles at General Electric and Nordson Corporation, and he has been credited with expanding Dorman’s Light Duty product catalog by 1,200 SKUs since 2021. Steven A. Bashir assumes the role of President, Heavy Duty, inheriting a segment that accounted for 35% of consolidated revenue last year. Bashir’s prior tenure at ZF Services and Tenneco saw him drive double-digit sales growth across aftermarket channels, achievements he will look to replicate by strengthening Dorman’s presence in the commercial truck and off-road markets.

These leadership changes are a centerpiece of Dorman’s broader growth strategy, which targets mid-single-digit annual revenue expansion and adjusted EBITDA margins above 17% over the next three years. CEO Kevin Olsen emphasizes that the new team will accelerate product innovation—Dorman has launched over 10,000 new SKUs since 2022—and advance commercial excellence through data-driven pricing and channel optimization. For investors, key metrics to monitor include year-over-year revenue growth in the Light Duty and Heavy Duty segments, free cash flow conversion (which averaged 85% over the past two fiscal years), and the trajectory of SG&A as a percentage of sales, currently near 12%.