TULSA, Okla. – Dennis Welvaert, president of the North American Aftermarket Division and Australian Operations of Dayco Products, has announced he will retire effective Aug. 31.  Welvaert, who began his career 41 years ago with Firestone Tire and Rubber and has been with Dayco since 1981, was promoted to president of the Division in 2003.

In a press release announcing his retirement, Welvaert commented that “There is an alignment of circumstances that simply makes this the right time for me. Our company is in a good place, on solid financial footing and well-positioned in the marketplace.  With the excellent management team we have at Dayco, the August date allows plenty of time for an orderly transition of leadership. As I said, the stars have aligned to make this the right decision at the right time for me.”

While the company says it is not prepared to name Welvaert’s successor at this time, it expects to have the position filled well ahead of his departure, allowing ample time for an orderly handoff.

“Having worked every day for 41 years, I realize this isn’t something I can drop cold turkey,” said Welvaert. “While agreeing to assist the company where needed after leaving, my retirement from Dayco will allow me the time I want to spend with my family and to sneak in the occasional round of golf. It also will give me a chance to continue to provide service to the industry and use my experience to help the aftermarket and the companies that serve it.”  

James Orchard, CEO of Dayco, added, “Denny has been a valuable employee and executive for our company for many years and will surely be missed.  He has positioned our Aftermarket Group to allow us to move forward and continue to supply our customer base without interruption. We wish him well in retirement; he has certainly earned it.  We are pleased that Mr. Welvaert has indicated his willingness to be available for us to call on as we move forward.”