Hendrickson CEO set to retire at year end, company selects successor

Hendrickson will have a new chief executive officer in January.

Gary Gerstenslager, president and CEO, will retire at the end of December following 32 years with the Woodridge, Illinois-based company.

Matt Joy, who was named chief operating office in January 2020, will take over as president and CEO.

Gerstenslager's passion, technical knowledge, and drive for excellence led to a transformation in product design and manufacturing at Hendrickson, according to the press release announcing his planned retirement.

Hendrickson, which has three facilities in Stark County, is a division of Boler Co.

Gerstenslager was named president in 2006 and a year later became the first president and CEO at Hendrickson.

Matthew Boler, chairman, president and CEO of Boler Co., said Gerstenslager "embraced this role" and over 15 years turned Hendrickson from an important supplier in the North American commercial vehicle market into a leading global supplier.

Joy will take on Gerstenslager's duties as part of a seamless transition, Boler said. He joined the company in 2006 and has worked as vice president and general manager first in the specialty products group and later in the truck division before becoming COO.

Hendrickson supplies medium- and heavy-duty mechanical, elastomeric and air suspensions; integrated and non-integrated axle and brakes systems; tire pressure control systems; auxiliary lift axle systems; parabolic and multi-leaf springs; stabilizers; bumpers; and components to the global commercial transportation industry.

The company's trailer commercial vehicle systems business is based in Canton, with a facility in Navarre and a trailer controls systems plant in Lake Township. Hendrickson has 35 facilities in 16 countries and employs 6,000 worldwide.