Casey to Join Visteon as Vice President, Treasurer and Chief Tax Officer
Visteon Corp. has announced that Brian Casey will join the company as vice president, treasurer and chief tax officer, effective Feb. 1. Casey will be responsible for all activities at Visteon related to treasury, tax and mergers and acquisitions. He will report to Jim Palmer, executive vice president and CFO.
Tenneco Announces Executive Promotion
Tenneco has promoted Kenneth Trammell, senior vice president and CFO, to executive vice president and CFO. The promotion is effective immediately. As CFO, Trammell is responsible for Tenneco’s finance strategy, financial planning and analysis, accounting, tax, treasury and investor relations. He is a member of the senior management team and reports directly to Chairman and CEO Mark Frissora.
Parts Suppliers Face Rocky Road
About one-third of the automotive parts industry is probably headed for bankruptcy. The chilling prediction comes from Sean McAlinden, chief economist at the Center for Automotive Research in Ann Arbor, MI. He spoke at a conference for automotive writers Saturday, a week before the North American International Auto Show opens to the public Jan. 14 at Detroit’s Cobo Conference and Exhibition Center.
Siemens VDO Appoints Director of Corporate Strategy
Siemens VDO has appointed David Royce to direct of the company’s North American Corporate Strategy department. In this new role, he is responsible for identifying, assessing and realizing business opportunities that will advance the company to a leading position in the North American market, including strategy implementation, technology planning, mergers and acquisitions, industry, market and competitive research and coordination of strategic projects.
AMN’s Top Ten Week: Top Ten News Stories
If nothing else has been made clear by the events taking place in the automotive industry over the past 12 months, this much is true: The automotive aftermarket is changing — in dramatic ways. Here, the editorial staffs of Counterman and aftermarketNews takes a month-by-month look at the key events that have shaped this industry’s destiny over the past year.
AMN’s Top Ten Week: Top 10 Distribution Influences
Annually, Counterman magazine, in conjunction with aftermarketNews, presents the 10 trends and issues that influence the aftermarket parts distribution industry. For this year’s list, Counterman and aftermarketNews editors examined all the major issues, eventually paring the list down to those issues that most affect today’s and tomorrow’s aftermarket industry.
2006 Aftermarket Financial Symposium Dates Announced
The Automotive Aftermarket Industry Association (AAIA) announced that the 2006 Aftermarket Financial Symposium (AFS) will be held Sept. 26-27, 2006 in Chicago. The symposium will be geared toward CFOs, financial service providers, investment analysts, CPA firms and others with interests in the automotive aftermarket.
Auto Parts Industry Feels Chill
Some North Carolina automotive supply companies may soon be squeezed out of the market as U.S. automakers, struggling with declining sales, ramp up their efforts to cut costs. Last month, General Motors, the world’s largest automaker, said it would set price targets for the auto parts it buys. Companies that are unable to produce parts at a certain price will be automatically out of the bidding.
Executive Interview with Charles E. Johnson, President, Chief Executive Officer and Director of Proliance International
Charley Johnson is president, CEO and director of Proliance International, Inc. based in New Haven, CT. Johnson joined Proliance (which was formed by the July 2005 merger of Transpro, Inc. and Modine Aftermarket Holdings) in March 2001, ending a broad search for a new CEO of Transpro. The company’s customers include the leaders in aftermarket automotive distribution, such as AutoZone, NAPA, Advance, Pep Boys, O’Reilly and CARQUEST, among others. AftermakretNews.com spoke with Johnson about the origins of the merger, the challenges ahead and how the name Proliance came to be.
Feds Probe Delphi Exec Stock Trades
Delphi Corp., already on the verge of bankruptcy and cooperating with a massive federal investigation into its accounting practices, now faces a new inquiry into stock trades made by more than a dozen former and current employees.