Garrett Motion Inc. announced that on January 22, 2023, Mr. Steven Silver resigned from the board of directors (the ‘Board') of the company, effective immediately. Mr. Silver served on the company's board of directors pursuant to that certain Series A Investor Rights Agreement, dated as of April 30, 2021, by and among the Company, affiliated funds of Centerbridge Partners, L.P. (‘Centerbridge'), and the other parties thereto (the ‘Investor Rights Agreement'), which among other things provides Centerbridge with the right to designate certain members of the Board, subject to maintaining specified ownership requirements. Concurrent with Mr. Silver's resignation and pursuant to the Investor Rights Agreement, on January 24, 2023, the Board appointed Mr. Kevin Mahony, a designee of Centerbridge, as a director of the company.

Mr. Mahony will serve as a member of the Compensation Committee of the Board. Mr. Mahony is a Managing Director at Centerbridge, where he currently focuses on investments in the Industrials and Consumer sectors and has held various roles of increasing seniority since 2014. Prior to joining Centerbridge, Mr. Mahony worked at Oaktree Capital Management and Lazard.

Mr. Mahony holds a B.S. and B.A., with distinction, from the University of Virginia.