Piston Group has hired Wayne County Chief Financial Officer Hughey Newsome as its new CFO, the Southfield-based auto supplier announced Thursday. He takes over the role Dec. 5.
“Hughey’s reputable background, financial acumen and stellar experience will be a major asset to our ongoing strategy of managed market growth while continuing to invest in optimum company performance,” Piston Group founder and Chairman Vinnie Johnson said in a statement Thursday. “We look forward to his contributions to the Piston Group team.”
Newsome, 46, is completing his role as Wayne County’s chief financial officer, which he started in 2020. He has been credited with leading the county through the pandemic and improving its credit rating each year while overseeing 90 employees and managing a budget of $1.67 billion and capital assets of $1.4 billion, officials said.
“Hughey has been an invaluable asset to Wayne County and his work has helped us to grow immensely,” Wayne County Executive Warren C. Evans said in a statement Thursday. “As he embarks on this new journey, I extend my congratulations and express my gratitude for his commitment and contributions to Wayne County.”
Newsome was previously chief financial officer for the city of Flint as its recovered from the lead contamination water crisis. He has a MBA from Harvard University, an MS from Stanford University and a BS in electrical engineering from the University of Arkansas.
“Our ongoing strategy is to focus on recruiting talent that can complement our team, and help take our company to the next level,” said CEO Gordon Fournier, who was promoted from COO and CFO in January. “Hughey’s wealth of operational knowledge and financial expertise, especially with large institutions, will be an excellent addition to our team’s competencies and a key contributor to our overall plan for strategic growth.”
Newsome’s arrival will add another minority executive to the firm’s leadership as it continues its legal battle with the Michigan Minority Supplier Development Council over its certification as a minority business. At issue is whether the company’s daily operations are controlled by Johnson, who is Black, or a predominantly white group of managers.
Piston Group declined to comment on the matter Thursday.
Earlier this year, the Michigan Court of Appeals affirmed a decision made by the Wayne County Circuit Court in June 2021 ordering the council to reinstate the company’s status amid the pending litigation.
Wayne County’s Management and Budget Department will share Newsome’s responsibilities until a replacement is named, officials said. Tony Saunders, former Wayne County CFO, will offer support during the transition.
“While another opportunity has presented itself, I leave the County with a heavy heart,” Newsome said in a statement. “After nearly three years of hard work and progress against challenges the County had not seen before, I am eternally grateful for County Executive Evans allowing me to develop and grow under his watch and leadership. It is not everyone who gets to work under someone with the track record of public service as Mr. Evans. I owe a lot in my professional development directly to him.”
cwilliams@detroitnews.com
Twitter: @CWilliams_DN