ANN ARBOR, Mich. – Affinia Group Inc. has named two directors to its board – William Lasky, president, CEO and chairman of Accuride Corp., and James McElya, chairman and CEO of Cooper-Standard Automotive. These appointments will be effective Jan. 1, 2011.
“Bill Lasky and Jim McElya bring an incredible wealth of experience to our board and will greatly strengthen our ability to deliver on the Affinia World Smart mission of providing the highest possible quality at globally competitive costs,” said Terry McCormack, CEO and president of Affinia Group.
“Bill has achieved an unparalleled track record of visionary leadership within global industrial and heavy duty manufacturing segments,” McCormack continued. “He has a proven ability to recruit and motivate talented teams capable of leveraging complex manufacturing assets and supply chain resources.
“Jim’s career has focused intensely on quality management within global operations, including in-depth experience with Six Sigma Principles and lean manufacturing. He also has a real passion for elevating quality and professionalism within the aftermarket and for community service that addresses the fundamental needs of people,” McCormack said. “We are fortunate to have attracted such seasoned executives to what is already a very strong Affinia Board of Directors.”
Lasky joined the Accuride Board of Directors in 2007, was named president and CEO in 2008 and chairman in 2009. In addition, he has served as a director of Stoneridge Inc. since 2004 and was named chairman in 2006.
During his career, Lasky served as chairman, president and CEO of JLG Industries from 1999 to 2006 and prior to JLG held various management positions with Dana Corp. from 1977 to 1999. His career with Dana included service as president of WIX Filtration Products, which was acquired by Affinia in 2004. He is a graduate of Norwich University.
Prior to his current position, McElya served as a corporate vice president of Cooper Tire & Rubber Co., which was the parent company of Cooper Standard until 2004. During his career, McElya has also served as president of Siebe Automotive Worldwide and for more than a 22-year period held various management positions with Handy & Harman, including president of Handy & Harman Automotive, corporate vice president and officer of the parent company.
McElya is a past chairman of the Motor Equipment Manufacturers Association and Original Equipment Supplier Association. A strong supporter of community and education, McElya was instrumental in the development of the Cooper-Standard “Inspirations” program, an educational workshop for middle school students based on Six Sigma Principles. He is also active in programs for Detroit’s homeless and was instrumental in the opening of the city’s first medical clinic for homeless children. He attended West Chester University.
Also today, Affinia Group announced today that it intends, subject to market and other conditions, to offer an additional $75 million aggregate principal amount of its 9 percent senior subordinated Notes due 2014 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended. Other than with respect to the date of issuance and issue price, the notes will have the same terms as, and will be treated as a single class with, the company’s existing outstanding $267 million aggregate principal amount of 9 percent senior subordinated notes due 2014. The notes will be guaranteed on an unsecured senior subordinated basis by the parent company (Affinia Group Intermediate Holdings Inc.) and certain of the company’s current and future wholly owned domestic subsidiaries.
