Ex-Federal-Mogul Chairman Returns

Federal-Mogul Corp., an auto-parts maker operating under bankruptcy protection since October 2001, said Robert Miller has returned as chairman, replacing former CEO Frank Macher. Miller was Federal-Mogul CEO in September 2001 before he left to take the same position at Bethlehem Steel Corp., a company that's also in bankruptcy protection. Miller's appointment to chairman took effect Sunday, after Macher's contract expired, the Southfield-based parts maker said in a statement.

From From Detroit Free Press

SOUTHFIELD, MI — Federal-Mogul Corp., an auto-parts maker operating under bankruptcy protection since October 2001, said Robert Miller has returned as chairman, replacing former CEO Frank Macher.

Miller was Federal-Mogul CEO in September 2001 before he left to take the same position at Bethlehem Steel Corp., a company that’s also in bankruptcy protection. Miller’s appointment to chairman took effect Sunday, after Macher’s contract expired, the Southfield-based parts maker said in a statement.

Federal-Mogul plans to emerge from bankruptcy in the middle of this year. The company is under bankruptcy protection because of asbestos lawsuits and declining revenue. It’s trying to increase sales, cut costs and sell some businesses.

Macher was Federal-Mogul CEO from January 2001 until July 2003, when the company promoted Charles McClure to chief executive. Macher will remain on the board, Federal-Mogul spokeswoman Laura Vultaggio said in an interview.

Macher had been chairman since October 2001.

_______________________________________

Click here to view the rest of today’s headlines.