Earl Scheib Elects Independent Chairman, Adopts New Nominating Process
The board of directors for Earl Scheib Inc. has elected Robert Smiland as independent chairman of the board. Smiland replaces interim chairman Christian Bement, who continues as the company’s CEO. Additionally, the board has reconfigured its director-nominating process to establish that nominations will be reviewed and approved by the three current independent directors.
Magna President and CEO Resigns, Expected to Run for Canada’s Conservative Party
Belinda Stronach, president and CEO of diversified automotive supplier Magna International, has resigned. According to recent news reports, Stronach is expected next week to announce her candidacy for the leadership of Canada’s Conservative Party. Her father, Magna Founder and Chairman Frank Stronach, has assumed the position of interim president.
Eaton Increases Dividend by 12.5 Percent and Announces 2-for-1 Stock Split
Eaton Corp.’s board of directors has approved a two-for-one stock split. As a result of the split, shareholders of record at the close of business on February 9, will receive one additional common share for every share held.Eaton’s board of directors has also declared a 12.5 percent increase in the quarterly dividend from $0.48 per common share to $0.54 per common share, on pre-split shares.
Executive Interview with Rich White, Vice President of Marketing & Communications, AAIA, and Executive Director of the Car Care Council
Rich White is vice president of marketing and communications for the Automotive Aftermarket Industry Association (AAIA). He oversees marketing, public relations, media relations, publications, Web sites and most recently, the Car Care Council and the “Be Car Care Aware” consumer education campaign. With National Car Care Month just around the corner, White provided aftermarketNews.com with an update on the “Be Car Care Aware” consumer education campaign and the Car Care Council’s plans for this year. He also shared how aftermarket companies can become more involved in the campaign.
MACS Announces New Sponsorships for 2004 Convention
Four Seasons, a division of Standard Motor Products, has announced its sponsorship of “Crank it UP!” — the 24th annual Convention and Trade Show of the Mobile Air Conditioning Society (MACS) Worldwide. The convention takes place January 22-24 at the Caribe Royale All-Suite Resort in Orlando, Fla. Sanden International has announced its gold sponsorship of the event, bringing drag racing legend Big Daddy Don Garlits to the convention to present the keynote speech during a luncheon on Saturday, January 24th at noon. Garlits will speak on teamwork and working toward success.
Art Fisher, CEO of Fisher Auto Parts and Founder of Federated Auto Parts Distributors, Dies at 65
Arthur Jay (Art) Fisher Jr., CEO of Fisher Auto Parts and founder of Federated Auto Parts Distributors, died Jan. 15 in Staunton, Va. He was 65. A graduate of Hope College in Holland, Mich., Fisher taught school before entering the automotive aftermarket in 1964. Under his leadership, Fisher Auto Parts grew from a single location to become one of the largest independently owned auto parts chains in the U.S. Today there are more than 300 Fisher Auto Parts stores, with 18 warehouses and more than 2,000 employees. Fisher founded Federated Auto Parts Distributors in 1985. Federated quickly became one of the industry’s premier programmed marketing groups, with more than 3,800 Federated Auto Parts Stores and 2,400 Federated Car Care Centers today nationwide. In addition to his work and dedication to Fisher and Federated Auto Parts, Fisher served on the board of governors of AWDA and served as chairman in 2001.
Bo Fisher to Succeed His Father as CEO and Chairman of Fisher Auto Parts
Following the death this week of his father Arthur Jay (Art) Fisher Jr., CEO of Fisher Auto Parts, Arthur Jay (Bo) Fisher III, has been unanimously elected to the position of CEO and chairman of the board. He has been president of Fisher Auto Parts since 1992 and owns a majority of the company.In addition, Gary Shifflett and Herb Godschalk have been promoted to become co-Presidents of Fisher Auto Parts.
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.
Starcraft Shareholders Approve Merger With Wheel to Wheel, Tecstar
Shareholders of aftermarket and OEM supplier Starcraft Corp. have voted to approve a proposed merger agreement with Troy, Mich.-based Wheel to Wheel, Inc., an automotive engineering and design business. The transaction has received all required regulatory clearance and the merger is expected to close by the middle of January. In 1988, Starcraft and Wheel to Wheel jointly formed Tecstar, which provides and installs appearance enhancement items on vehicles provided by and returned to an original equipment manufacturer. The new agreement calls for Starcraft to acquire the remaining 50 percent ownership of Tecstar LLC and Tecstar Canada that it does not currently own by acquiring closely held Wheel to Wheel. The transaction merges Wheel to Wheel into a newly created subsidiary of Starcraft, which will exchange Starcraft common shares for shares of Wheel to Wheel.
TIA Consolidates, Maryland Office Becomes New HQ
The Tire Industry Association (TIA) will consolidate all of its offices in Bowie, Md., as of Feb. 1. TIA’s operations in Kentucky will be relocated and the building will be put up for sale. TIA said this decision comes after months of in-depth analysis into the cost-effectiveness of operating two offices in different states. Two members of the Louisville staff, Senior Vice President of Education and Technical Services Kevin Rohlwing and Director of Training Chris Marnett, will be moving to the Maryland office.