The Board of Directors approved a $400 million increase to the company's share repurchase authorization, bringing the total capacity to $1 billion. This action reflects confidence in Adient's cash flow generation and capital allocation framework. Additionally, the board adopted a Tax Benefits Preservation Plan designed to protect the value of approximately $3.5 billion in U.S. net operating loss carryforwards by discouraging any person from acquiring 4.95% or more of outstanding shares without prior approval. The plan issues one right per ordinary share, exercisable at $83.50 for a fraction of a preferred share if triggered. Adient operates as a global leader in automotive seating.
