Pirelli Names VP of Advertising, PR and Motorsports
Pirelli Tire North America (PTNA) has appointed Peter Tyson vice president, advertising, public relations and motorsports. Tyson was hired by Pirelli UK as director of marketing in 1984 and helped revitalize the then-ailing Pirelli brand. In 1993, Tyson was promoted to the position of director of global brand support at Pirelli Pneumatici S.p.A.
From the Inside: Executive Interview with Craig Anderson, President, Hercules Tire & Rubber Co.
Our latest edition of “Executive Interview” features Craig Anderson, president of Hercules Tire & Rubber Co. While Hercules has grown quietly, preferring to remain out of the spotlight, every year brings line expansions, new products and other enhancements designed to help its members and dealer customers grow their businesses. Even after selling off its core retreading business, Hercules posted its best sales year ever in 2002, and again in 2003, and saw each of its divisions turn a profit in 2003. Craig Anderson, president, sat for an interview with Jim Smith, editor of Tire Review magazine in April. The two discussed how the changes impacted Hercules, the company’s plans in the future, and how he sees the market moving in the near-term.
Bendix to Add More Than 30 New Jobs at Ohio Headquarters
Bendix Commercial Vehicle Systems LLC, said it will add more than 30 engineers, information technology specialists and supply chain professionals to support its staff. The company said surging demand for its medium- and heavy-duty truck products has resulted in the need for additional staff. Bendix currently employs 1,800 in North America, including 450 at its Elyria, Ohio, headquarters.
Visteon Appoints New Executive Vice President and CFO
Visteon has appointed James Palmer as executive vice president and CFO, effective June 2. Palmer replaces Daniel Coulson, who retired on March 31, after 38 years at Visteon and Ford Motor Co.
Venture Owner Winget Resigns from Board
Macomb County businessman Larry Winget, cofounder and majority owner of bankrupt auto supplier Venture Corp., has resigned from the board amid a lawsuit that alleges he and his family siphoned millions of dollars from the company. Winget’s son and son-in-law, executives with the struggling auto-plastics firm, have been placed on paid leaves of absence.
IBM: China’s Auto Suppliers Could Face Bumpy Road
China is the world’s fastest growing automotive market, but a new study suggests the auto suppliers fueling that expansion may be growing too fast. In fact, says the report, there could be over capacity and a resulting shakeout in the supplier market within five years.
Tenneco Withdraws Bonds
Tenneco Automotive canceled its planned sale of $420 million of high-yield, high-risk notes Thursday, joining Revlon Inc., Samsonite Corp. and others in pulling new bond issues as borrowing costs soar.
Goodyear Releases 2003 Financial Results
Despite record sales of $15.1 billion and some bottom-line improvements, Goodyear Tire & Rubber yesterday reported a full-year 2003 net loss of $802.1 million or $4.58 per share. The 2003 net loss also included a -$56.2 million restatement for the year, part of a total of $164.8 million in additional net losses over the 1997-2003 period.
Ninth Annual GAAS Kicked Off in Chicago
While the theme of this year’s Global Automotive Aftermarket Symposium (GAAS) — Leaner, Faster, Better — may connote the automated efficiency of a well-run machine, the true focus of the day’s numerous presentations was on the talented pool of people who make up that machine and how to make better use of them. “The core of any great business is the people,” said GAAS founder and chairman Mort Schwartz, who welcomed approximately 400 aftermarket executives to the event.
TI Automotive Launches New Fuel Pump Line
TI Automotive is investing millions this year to launch production of an all-new dual-channel, single-stage (DCSS) fuel pump that provides dramatic improvements in efficiency and performance.