Taking the top spot in our look back at the week’s top news, Federal-Mogul announced it has begun operation under two separate business segments. As previously announced, each segment will have its own CEO who reports to the Federal-Mogul board of directors. Rainer Jueckstock will serve as co-CEO, Federal-Mogul and CEO F-M Powertrain Segment, and Michael Broderick as co-CEO, Federal-Mogul and CEO Vehicle Components Segment. Federal-Mogul’s powertrain segment focuses on original equipment products for automotive, heavy-duty and industrial applications. The vehicle components segment sells and distributes a broad portfolio of products in the global vehicle aftermarket, while also serving original equipment (OE/OES) manufacturers with vehicle products including brake friction, chassis, wipers and other vehicle components.
In other top news this week, California-based SSF Imported Auto Parts has been acquired by a partnership of Germany’s Wessels+Mueller AG and longtime aftermarket import industry executive Thomas Beer. A leading WD for German and Swedish automotive replacement parts, SSF has five warehouse locations in California and Arizona. Family owned Wessels+Mueller AG is one of the largest automotive warehouse distributors in Europe, with more than 100 warehouse locations in Germany, Austria and the Netherlands. Beer has been named SSF’s new CEO, while former co-owner Hans Kopecky will serve as COO.
Executive changes at Pep Boys were reported this week, alongside the company’s second quarter and first half results. Pep Boys Executive Vice President of Stores William Shull III has resigned. Store operations have been reorganized into East and West territories under the leadership of Terence Winslow and Sean Chidsey. Winslow and Chidsey will report directly to CEO Mike Odell, while a search is conducted for a senior vice president – store operations. In addition, the company announced the appointment of David Stern as CFO.
In more M&A news this week, WAIglobal announced plans to merge its Canadian operations with RCP Inc., based in Toronto, Canada. Founded in 1971, RCP is a full-line global aftermarket supplier and manufacturer of rotating electrical components and complete alternators and starters.
Last in our look back at the week’s top news, we learn that National Performance Warehouse (NPW) has made its second acquisition in 30 days. NPW’s acquisition of Motor Warehouse in Sacramento, Calif., now makes for the company’s ninth location. This also is NPW’s second acquisition in 30 days. Late last month, the company announced it had purchased Karbelt Warehouse in Ajax, Ontario.
Stay tuned next week as we bring you live coverage from Automechanika Frankfurt 2012, in addition to our regular daily newsletter.
