ArvinMeritor Launches Search for CEO Successor
ArvinMeritor’s board of directors has retained an international executive search firm to identify a successor to Larry Yost, chairman and CEO. Yost said he will remain in his current capacity until a successor is found.
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.
Siemens VDO Automotive to Acquire Chrysler Group’s Huntsville Electronics Operations
Siemens VDO Automotive Electronics Corp. has signed an agreement to acquire Chrysler Group’s electronics operation located in Huntsville, Ala. The facility produces automotive electronics products for Chrysler, Jeep and Dodge products and generates approximately $1 billion in sales. Details of the transaction have not been disclosed. Situated on a 180-acre site, Huntsville Electronics is composed of two plants operating two shifts daily. The first plant opened in 1977 and is 232,000 square feet. The second plant opened in 1988 and encompasses 849,000 square feet. Currently, operations in Huntsville employ more than 2,000 people who are represented by the UAW.
AAIA Hosts District Meeting With Md. Rep. Van Hollen
On Friday, Jan. 30, AAIA played host to U.S. Rep. Christopher Van Hollen (D-Md.). Like all in-district congressional meetings, this event was designed to educate the congressman about the size, scope and importance of the aftermarket — nationally, in Maryland, as well as in his home district. Nearly half of AAIA’s staff resides in Van Hollen’s 8th district and the association headquarters office is located in the district.
Champion Appoints a New President
John Evans, senior vice president of sales and marketing for Champion Laboratories, has been named president of the Albion, Ill.-based automotive parts manufacturer. Evans, a native of Vincennes, Ind., has been with Champion Laboratories for 20 years. He replaces Tom Mowatt, who has taken retirement.
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.
Intermet Reports Losses
Intermet Corp. lost $92.8 million, or $3.30 per share, on sales of $183.3 million in the fourth quarter. The Troy, Mich.-based manufacturer of cast-metal automotive components earned $430,000, or 3 cents per share, on sales of $180.47 million in the same quarter of 2002.
How’s Business?
There are some very strong signs that business will be good in 2004. Optimism among repair shop owners is as high as it’s ever been during the three years we have been tracking this data.
New Import Parts Specialist Certification Tests Available
Aftermarket firms can begin the new year with a competitive edge by encouraging employees and customers to take the newly updated Auto International Association (AIA) Import Parts Specialist and Master Import Parts Specialist certification tests. Better-trained counter personnel and service technicians are vital to ensuring quality repairs and satisfying import nameplate customers. These tests address the pressing need for professionals with knowledge and training to help drive improved sales and provide the best customer service to import nameplate owners.
Congress Could Consider Tire-Aging Legislation
The National Highway Traffic Safety Administration (NHTSA) is currently studying the issue of whether aging has a detrimental effect on tires (since some rubber compounds may deteriorate over years, regardless of use). Sen. Mike DeWine (R-Ohio) wants to introduce legislation that will require NHTSA to study the issue and prepare a report to Congress within three years.