Motorsport Aftermarket Group CEO Hugh Charvat announced to employees today that he, along with chief financial officer Tony Vacchiano, will be leaving MAG — the parent company of businesses such as Tucker, DragonFire Racing, Kuryakyn, Progressive Suspension, QuadBoss, Vance & Hines and J&P Cycles — at the end of June.
Charvat landed as CEO of MAG in 2018, following MAG’s filing for Chapter 11 bankruptcy in 2017.
Charvat noted that five weeks ago, MAG announced that it is treating its six business units as independent businesses. As part of that strategy, Charvat and Vacchiano will be departing.
“This is not a surprise for Tony and me, it is a natural progression of the plan that we set in motion with the ‘Unwind’ strategy,” Charvat noted.
Starting next week, MAG business unit leaders Chris Lindstrom, Greg Heichelbech, Mike Kennedy, Sebastian Bretschneider and Zach Parham will report directly to the MAG Board of Directors.
— Dave McMahon