Executive Shuffles at ArvinMeritor and Federal-Mogul

Former Federal-Mogul CEO Chip McClure has taken that post at rival ArvinMeritor, spurring his former employer to appoint Robert Miller as interim CEO
The Board of Directors of ArvinMeritor Inc. announced Wednesday that it has named Charles G. “Chip” McClure chairman, chief executive officer and president, effective Aug. 9, 2004. McClure, who has been president, chief executive officer and a member of the Board of Directors of Federal-Mogul Corp., succeeds Larry Yost, who is retiring from the company.
“Chip McClure has the leadership skills, international experience, industry insight and strong customer relationships that will be a competitive advantage to lead ArvinMeritor,” said James E. Perrella, chairman of the succession committee of the board. “His expertise and extensive knowledge in operations, technology and strategic planning will be beneficial in guiding the company to higher levels of performance, thereby improving shareholder value and supporting ArvinMeritor’s efforts to attain our full potential.”
Hiring McClure is the culmination of a comprehensive external and internal search conducted by the succession committee of the board.
Most recently, McClure helped lead Federal-Mogul’s $5.5 billion global business in significantly improving its business results, strengthening its customer relations and developing a strategic plan to make the company more competitive. He also was instrumental in creating an aggressive plan to resolve the challenging issues related to the company’s reorganization and planned emergence from Chapter 11.
McClure has more than 25 years of automotive industry experience in a variety of leadership roles. He joined Federal-Mogul in January 2001 as a member of the Board, president and chief operating officer. McClure became chief executive officer in July 2003.
Also on Wednesday, Federal-Mogul Corp. announced the appointment of Robert S. (Steve) Miller Jr. to interim chief executive officer, pending the appointment of a new CEO. Miller is currently non-executive chairman of Federal-Mogul’s board of directors.
Miller, 62, has been a member of Federal-Mogul’s board since 1993 and served as non-executive chairman of the board from January 11, 2001 to October 1, 2001. Miller twice previously served in a transitional role as chief executive officer of Federal-Mogul in 1996, and again in 2000. The board, when electing Miller as non-executive chairman, referred to his experience in leading a number of companies through the bankruptcy process. Miller’s leadership and expertise in financial restructuring will be an asset to Federal-Mogul as the Company prepares to emerge from Chapter 11.