MEMA Names New Director of Finance and Administration
Wendy Earp has been promoted to director of finance and administration for MEMA. She formerly served as the association’s controller, a position she has held since May 2001. Earp succeeds Joseph “Joe” Griscti, who is retiring after 22 years of service to the association and industry.
Auto Executives Don’t See Big Profit Rise Until 2006, KPMG Study Reveals
The global automotive industry is not expected to return to peak profitability levels until at least 2006, according to the results of an annual global survey by KPMG, an audit, tax and advisory firm. However, automotive executives indicate the worst is behind them, citing 2003 as the worst year for profits in the half-decade, KPMG said. KPMG’s fifth annual survey, conducted in October and November 2003, polled 100 American, Asian and European automotive executives from 19 automakers and from 49 Tier 1 and 32 Tier 2 suppliers.