Pinnacle Engines, developer of ultra-efficient engine designs, announces a key addition to the leadership team, naming Phil Murtaugh as the newest member of its board of directors. With previous professional experience as CEO of Asian Operations for Chrysler Group and the CEO of General Motors China Group, Murtaugh provides keen insight into Pinnacle's planned expansion in 2014.
"Phil comes at a pivotal time for Pinnacle Engines as we gain momentum in Asian markets and reach commercialization stages of our first significant partnership," says Ron Hoge, Chairman and CEO of Pinnacle Engines. "His extensive experience within the automotive industry and deep relationships in Asian markets will aid in Pinnacle's significant growth in the coming months."
Murtaugh adds substantial leadership, international operations and automotive industry experience to Pinnacle Engines as the company expands into a new 13,000 square foot product realization facility in Silicon Valley. Murtaugh spent 33 years in General Motors, culminating in his position as Chairman and CEO of GM China Group from 2000 to 2005. Murtaugh then served as the Executive Vice President of SAIC Motor, where he was responsible for international operations, including Ssangyong Motors of Korea. He also spent three years as the CEO of Asian Operations for Chrysler Group, where he made crucial decisions that improved business operations in the region. Murtaugh earned a bachelor's degree from Kettering University and a master's degree in industrial management from Stanford University.
By 2016, there will be 200 million motorcycles, cars and trucks sold each year globally – leading to great opportunities for improving the efficiency of the internal combustion engine. Recent testing by FEV has verified that the innovative, patented ultra-efficient Pinnacle Engine design provides 30 to 50% fuel economy. In a comparison study with Honda Fit, the standard equipment achieved 36 mpg and with Pinnacle's technology the same automobile achieved 57 mpg.
"The immense and rapid growth of the automotive market globally provides an immediate and crucial need for decreasing CO2 emissions," says Monty Cleeves, Founder, President and CTO for Pinnacle Engines. "We are thrilled to have Phil's experience and knowledge to assist in the commercialization of Pinnacle's technology especially in Asian markets."