Wabco CEO to become chairman

Wabco Holdings Inc. said Tuesday that Jacques Esculier, the Belgian auto-parts supplier's chief executive, will take on the additional role of chairman.

The move will be effective immediately after the company's annual shareholders meeting on May 28.

Esculier replaces James Hardymon who will become the company's lead director on the same day, assuming he is re-elected to a new term on the company's board at the shareholders meeting.

Esculier, 49, has led the company since January 2004.