Dorman Overhauls Leadership to Accelerate Aftermarket Growth Strategy

By Brian Nelson

COLMAR, PA – January 19, 2026 – Dorman Products, Inc. (NASDAQ: DORM), a powerhouse in the motor vehicle aftermarket, today announced a significant overhaul of its executive team, appointing new leaders to key financial, operational, and commercial roles. The move, which includes bringing in seasoned external talent and promoting a key internal leader, is explicitly designed to accelerate the company’s ambitious growth strategy and solidify its market position.

The sweeping changes see Charles W. Rayfield joining as the future Chief Financial Officer, Nathan J. Porter as the new Chief Operations Officer, and Steven A. Bashir as President of the Heavy Duty segment. Concurrently, Eric B. Luftig has been promoted to President of the Light Duty segment. The appointments follow the planned retirements of current CFO David M. Hession and Heavy Duty President John R. McKnight.

“The leadership changes announced today position Dorman for an exciting new chapter,” said Kevin Olsen, Dorman’s President and Chief Executive Officer, in a statement. “Our senior leaders have the experience and expertise to drive innovation, further advance our commercial and operational excellence initiatives, and unlock new opportunities to deliver long-term growth.”

A Strategic Overhaul for Growth

This leadership shuffle is far from a routine succession plan; it represents a calculated maneuver to build upon Dorman's impressive momentum. The company recently surpassed $2 billion in annual sales and has posted 23 consecutive years of record annual net sales through 2023, achieving an 18% compounded annual growth rate over the last five years. The new executive team appears handpicked to address the specific challenges and opportunities required to sustain and accelerate that trajectory.

Analysts see the move as a deliberate shift towards a more aggressive growth phase. The company’s strategy hinges on capturing greater market share by leveraging its vast product portfolio, engineering prowess, and expansive channel reach. A key pillar of this strategy is its “first-to-aftermarket” approach, where Dorman rapidly develops and releases replacement parts that were previously only available from Original Equipment Manufacturers (OEMs). With an output of 4,000 to 5,000 new SKUs annually, often in complex and high-value categories like electronic modules and emissions systems, the need for a leadership team capable of managing that scale and complexity is paramount.

The market has reacted with cautious optimism, viewing the appointments as a structural enhancement to Dorman's growth engine. Institutional investors are particularly focused on how this new team will balance aggressive expansion with the financial discipline needed to deliver consistent, risk-adjusted returns.

Fortifying Financial and Operational Foundations

At the core of the new structure are two critical C-suite appointments poised to reshape Dorman's financial and operational backbone.

Charles W. Rayfield joins as Senior Vice President and CFO Designate, stepping into the role formally after the company files its 2025 annual report. Rayfield’s background is particularly notable for his experience in high-stakes financial environments. He previously served as CFO for Lutron Electronics and, before that, as CFO for the publicly traded Knoll Inc. During his tenure at Knoll, he was instrumental in managing financial strategy through a period of significant M&A activity, which culminated in the company's sale and created substantial shareholder value. His expertise in capital allocation and M&A is seen as a vital asset for Dorman as it looks to fund both organic growth and potential strategic acquisitions.

Joining alongside Rayfield is Nathan J. Porter as Senior Vice President, Chief Operations Officer. Porter will oversee the entire operational apparatus, from sourcing and manufacturing to logistics and distribution, for both the Light and Heavy Duty segments. He arrives from ADI Global Distribution, where he was also COO, and previously held a key operations role at Snap One. His deep experience in managing complex global supply chains at scale is directly applicable to Dorman's model, which relies on efficiently bringing thousands of new products to market each year. His appointment signals a clear focus on enhancing operational excellence to support the company’s aggressive product development and market expansion goals.

Sharpening Commercial Focus in Key Segments

Beyond the C-suite, Dorman has restructured the leadership of its two primary business segments to drive commercial performance.

Eric B. Luftig’s promotion to President, Light Duty, is a testament to the company’s strategy of cultivating internal talent. Having joined Dorman in 2021, Luftig previously led the product, engineering, quality, and manufacturing functions for the light-duty business. His promotion ensures continuity while placing a leader with deep product and operational knowledge at the helm of the segment's commercial strategy, including sales, marketing, and product development.

In contrast, the Heavy Duty segment will see a fresh perspective with the appointment of Steven A. Bashir as its new President. Bashir succeeds the retiring John R. McKnight and is tasked with leading the segment's commercial functions. He brings a wealth of relevant experience from his time at ZF Services, where he was Head of Sales for the U.S. and Canada and Head of Commercial Vehicle Aftermarket for the Americas. His prior senior roles at industry giants like Tenneco and Mahle Aftermarket give him a profound understanding of the competitive landscape and customer needs in the commercial vehicle space, a key area of strategic expansion for Dorman.

Navigating an Evolving Aftermarket

The timing of these leadership changes is critical, as the motor vehicle aftermarket navigates a period of profound transformation. The average age of vehicles on U.S. roads continues to climb, creating a steady demand for repairs and replacement parts. However, the nature of those repairs is changing. The proliferation of complex electronics and advanced driver-assistance systems (ADAS) creates opportunities for higher-value products, a domain where Dorman’s OE FIX solutions are designed to excel.

Simultaneously, the industry faces persistent headwinds from global supply chain volatility and the long-term transition toward electric vehicles (EVs). While the EV shift presents challenges to traditional aftermarket suppliers, it also opens new avenues for growth in battery components, charging systems, and specialized EV parts. Dorman’s new leadership team appears specifically assembled to navigate this complex environment. Porter’s operational expertise is crucial for building supply chain resilience, while the commercial leadership of Luftig and Bashir will be vital in adapting product strategies to meet the demands of both aging internal combustion engine vehicles and the emerging EV fleet. The financial stewardship of Rayfield will be the linchpin, ensuring the company has the capital to invest in innovation and make strategic moves as the market evolves. The market will be closely watching Rayfield’s capital allocation decisions after his formal appointment, as they will be a critical early signal of the new team's strategic direction.