Thursday January 11, 7:31 am Eastern Time
Press Release
SOURCE: Federal-Mogul Corporation
Federal-Mogul Appoints Frank E. Macher Chief Executive Officer And Charles G. McClure President and Chief Operating Officer
SOUTHFIELD, Mich., Jan. 11 /PRNewswire/ -- Federal-Mogul Corporation (NYSE: FMO - news) Chairman Robert S. (Steve) Miller announced today the appointments of Frank E. Macher to chief executive officer and Charles G. (Chip) McClure to president and chief operating officer, effective immediately. Macher will report to Miller, who will remain non-executive chairman of the Board of Directors, and McClure will report to Macher. Both Macher, 59, and McClure, 47, will join Federal-Mogul's Board of Directors.
(Photo: newscom.com newscom.com newscom.com )
Today's announcement launches a leadership succession plan at Federal-Mogul. Macher is scheduled to succeed Miller, becoming executive chairman of the Board of Directors in July, 2002. Miller will continue to serve as a Federal-Mogul director. At the same time, McClure will succeed Macher as chief executive officer and president.
``I'm thrilled we have two automotive industry veterans whose operational experience not only strengthens our company but also our Board of Directors,'' said Miller. ``The addition of high-caliber executives like Frank and Chip to our team is a strong testament to our company heritage and future prospects.''
Frank E. Macher, Chief Executive Officer
``Joining the Federal-Mogul team is a great honor,'' said Macher. ``In the automotive industry, Federal-Mogul is known for quality products, strong brand names, and great people. I look forward to working together with the team to move this wonderful company forward.''
Macher has nearly 35 years of automotive industry experience, and has held senior positions at both a large global supplier and a major auto manufacturer. Macher served as president and chief executive officer of the former ITT Automotive, a $6-billion global automotive supplier, from July 1997 to January 1999. In this role, he had full management responsibility for the Auburn Hills, Michigan-based supplier, which provided customers with a broad range of original equipment and aftermarket systems and products.
Prior to joining ITT, Macher served 30 years at Ford Motor Company in a variety of progressively responsible positions in management, manufacturing, engineering and quality. His last position at Ford was vice president and general manager of the Automotive Components Division, the predecessor to the current Visteon Corporation. In this position, Macher had responsibility for global development, engineering, production and sales operations representing $10 billion in annual revenue, with 48,000 employees at 51 facilities around the world. While at Ford, Macher served as general manager of the Plastic and Trim Products Division, the Electronics Division and the Electrical and Electronics Division. His other roles included vice president of northern Pacific operations, based in Tokyo, Japan; and general manufacturing manager and plant manager at several Michigan facilities. He began his Ford career in 1966 as a manufacturing development engineer.
Macher earned a master of business administration degree from Michigan State University, East Lansing, Michigan, and a bachelor of science degree in mechanical engineering from General Motors Institute, Detroit, Michigan.
Since leaving ITT in 1999, Macher has been active on the boards of directors of Tacoma International and Tenneco Automotive, and on the board of trustees of Kettering University.
Charles G. (Chip) McClure, President and Chief Operating Officer
``Joining Federal-Mogul is very exciting because of this company's inherent strength and reputation with our customers,'' said McClure. ``I look forward to strengthening those ties and working hands-on with our operations to provide the operating efficiencies necessary to succeed in today's demanding marketplace.''
McClure has nearly 20 years of automotive industry experience, in a variety of leadership roles. Prior to joining Federal-Mogul, he served as president, chief executive officer and a member of the board of directors of Detroit Diesel Corporation, a major designer and manufacturer of diesel engines and related products, which was acquired by Daimler-Chrysler Corporation in October 2000. McClure joined Detroit Diesel in August 1997 as president.
From 1983 to 1997, McClure held a variety of increasingly responsible positions at Johnson Controls, a Milwaukee, Wisconsin-based global automotive supplier. His last assignment at Johnson Controls was president -- The Americas, with management responsibility for a $3-billion group with 50 manufacturing plants that supplied seating systems and components, headliners, door panels and interior trim. Before that, he was vice president and managing director of the company's $1-billion European operation, based in Burscheid, Germany. Prior to the European assignment, he was vice president and general manager -- joint ventures, directing the company's joint venture activities and its business with Ford Motor Company and Chrysler Corporation, after serving as general manager of two key business units.
McClure worked from 1983 to 1985 at Hoover Universal, acquired by Johnson Controls in 1985, serving as operations director, material handling products for the newly formed business. Before that, he spent four years at Ford as a heavy-duty truck sales engineer and field service engineer. He served as a lieutenant (jg) on a U.S. Navy destroyer from 1975 to 1979.
McClure earned a master of business administration degree from the University of Michigan, Ann Arbor, Michigan, and a bachelor of science degree in mechanical engineering from Cornell University, Ithaca, New York. He is active on the board of directors of R. L. Polk and Company and on the Cornell University Council.
Headquartered in Southfield, Michigan, Federal-Mogul is an automotive parts manufacturer providing innovative solutions and systems to global customers in the automotive, light trucks, heavy duty, farm and industrial markets. The company was founded in 1899. For more information on Federal-Mogul, visit the company's web site at federal-mogul.com . Federal-Mogul's press releases are available by fax through Company News On-Call, call 800-758-5804, ext. 306225.
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