Albion-based Busche Performance Group has announced Joseph Perkins as its new chief executive officer. Perkins most recently served as chief financial officer for Michigan-based Joyson Safety Systems.

Perkins was selected unanimously by the board of directors of Busche parent Shipston Equity Holdings LLC. He succeeds company founder Nick Busche, who will remain as president and chief operating officer for the company.

"Joe's impact will be immediate as he develops and implements the short and long-term strategic initiatives of the Company, while Nick will continue to oversee all aspects of operations, including a number of very important launches that will provide tremendous organic growth for the Company," the board said in a news release.

Busche Performance Group manufactures components for the automotive industry. Last month, the company announced a joint partnership with Chongqing Sanyou Corp. in China to build a 185,000-square-foot facility that will manufacture lightweight chassis components.