Steve Wybo: New CEO ready as auto supplier posed for growth – Crain’s Detroit Business
Steve Wybo was featured in Crain’s Detroit Business in their article titled “New CEO ready as auto supplier posed for growth.”
The machining and castings business is “recovery from a hangover” tied to decades of poor contracts and mismanagement,” said Steve Wybo, senior managing director of Birmingham-based turnaround firm Conway MacKenzie Inc.
“There are certain commodities in a vehicle that just don’t make money and, historically, this area has been one of them,” Wybo said. “These companies used to be a bunch of moms-and-pops that have been rolled up. There used to be just too many players and they all competed on price and totally diluted the margins. And these companies (Busche and Chassix) have had to deal with all those old contracts that weren’t profitable from all those little guys beating the shit out of each other on price.”