Black Donuts appoints Carruthers as new CEO

Pirkkala, Finland – Black Donuts Engineering Inc. (BDE) has appointed Derek Carruthers, a former executive at Cooper Tires, Pirelli and Bridgestone, as CEO with effect from 1 Jan, 2018.

Carruthers takes over the CEO role from Black Donuts’ founder Kai Hauvala, who is continuing to work with the company, said an 11 Dec statement from the Finnish tire technology firm.

The move follows a recent court case in which ten people working for BDE were found guilty of violating trade secrets of their former employer Nokian Tyres.

Three BDE executives, including Hauvala, were sentenced to business prohibitions of three-to-five years, though – in subsequent correspondence with ERJ – Hauvala said the bans had been lifted on appeal.

“Together we will work as a team, to continue Black Donuts Engineering success story and speed up the growth,” Hauvala said in an 11 Dec announcement about the new appointment.

Carruthers, he added, has “vast experience from the tire industry and excellent understanding of the industry’s current trends and future are just what the company needs.”

With regard to his role, Hauvala explained to ERJ: “My title is as founder only and our partners and customers will see me working with the same tasks as previously. And [this] gives [me] more time for large project sales and freedom for strategic thinking.”

The global tire industry will grow from $230 billion today to $280 billion by 2022, Carruthers said in the company announcement. He also forecast that, within five years, BDE would be "a truly global company, with roots firmly in Finland.”

BDE expects to achieve a turnover of €13,5 million for 2017, up from €10,7 last year. Predicted revenue for 2018 is around €16 million.