Black Donuts Engineering Inc has announced that Derek Carruthers has been appointed CEO, effective January 1, 2018. Founder and former CEO Kai Hauvala will stay on with the company.
“This is an excellent time for Derek Carruthers to assume the position of CEO at Black Donuts Engineering,” Hauvala said. “His vast experience from the tire industry and excellent understanding of the industry’s current trends and future are just what the company needs. Together we will work as a team, to continue Black Donuts Engineering success story and speed up the growth.”
Carruthers has previously worked in various executive positions for companies such as Cooper Tire & Rubber Company, Pirelli and Bridgestone.
The global tire industry is expected to grow from $230 billion to $280 billion by 2022, Carruthers said.
“We are eager to help and support our current and future clients to benefit from this great growth,” Carruthers said. “Black Donuts Engineering is a fantastic company that exports Finnish high technology. In five years, BDE will be a truly global company, with roots firmly in Finland.”
According to the company, Black Donuts Engineering is experiencing a period of major growth, with €13.5 million ($15.9 million) in revenue in 2017 and a projected €16 million ($18.9) in 2018.
