Yost to Retire as ArvinMeritor CEO
Auto-parts supplierArvinMeritor Inc., which lost its bid to buy Dana Corp. last year, said Monday it is searching to replace chief executive Larry Yost, who plans to retire. The Troy-based company offered few details about the search, but company spokeswoman Lin Cummins said Yost has wanted to retire for some time. Yost led the company through several transitions including the 2000 merger of Arvin Inc. and Meritor Automotive Inc. He had been CEO of Meritor before he became chairman and CEO of ArvinMeritor.
Jerry Mosingo Named COO of ASC Incorporated
ASC Inc., a full-service specialty-vehicle development partner for automotive manufacturers, has named Jerry Mosingo COO, effective immediately. He replaces Scott Koepke, who has been named COO of ASC-Yachiyo Manufacturing Ltd. (AYM), an ASC joint venture company in Columbus, Ohio. Both executives will report to ASC’s president and CEO, Paul Wilbur. Mosingo’s COO assignment is expected to last through 2004.
Bill Grote Names Eric Morris President and COO of Grote Industries, Grote to Assume Chairman/CEO Role
Eric Morris has been appointed to the newly created post of president and COO at Grote Industries. William (Bill) Grote III will assume duties of chairman and CEO at the 103-year-old family owned company. Grote Industries is a designer and manufacturer of vehicle safety systems. Headquartered in Madison, Ind., Grote manufactures LED and incandescent lamps, mirrors, obstacle detection systems, reflective accessories and wiring components. The company has other manufacturing plants in Toronto and Waterloo, Canada, as well as Monterrey, Mexico.
Delphi Integrated Service Solutions Appoints Three New Directors
Delphi has announced the appointment of three new directors in sales and marketing, operations and engineering for Delphi Integrated Service Solutions, part of Delphi Product & Service Solutions. Delphi Integrated Service Solutions provides computer-implemented workflow management and vehicle diagnostic systems that enable service writers, shop owners and technicians to increase productivity and drive consumer satisfaction.
Hayes Lemmerz Names Vice President, General Counsel and Secretary
Hayes Lemmerz International has named Patrick Cauley to the position of vice president, general counsel and secretary. Cauley, who was serving as the company’s interim general counsel, will continue to report to Curtis Clawson, chairman and CEO.
Visteon’s Biggest Loss Pushes Stock Down
Wall Street pounded Visteon Corp. stock Friday after the former parts division of Ford Motor Co. reported by far the biggest quarterly loss in its short history as an independent company and underwhelmed investors with its expectations for the first quarter of 2004. Visteon reported a loss of $863 million, or $6.87 per share, for the final three months of 2003, bringing the full-year loss to $1.2 billion, or $9.65 per share. Over the last three years, Visteon has lost about $1.7 billion.
R. L. Polk Canada Announces Management Changes
Kendra Rawls has been appointed vice president, R. L. Polk & Co. and general manager, R. L. Polk Canada, Inc. In this position, Rawls is responsible for managing Polk’s activities in Canada including vehicle registration reporting, automotive intelligence and analysis and marketing solutions. Rawls replaces Bill Murray who has been named vice president of international development at Polk’s international headquarters in Southfield, Mich. Murray is now responsible for overseeing operations in Brazil, Canada and Mexico plus the development of product offerings in Polk’s emerging markets.
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.