TROY, Mich., May 6 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE:
ARM) today announced that Jeffrey "Jay" Craig, currently senior vice
president and controller, has been named senior vice president and CFO of
the company, effective immediately.
Craig replaces James Donlon, executive vice president and CFO at
ArvinMeritor since March 2005. Donlon will immediately begin supporting
ArvinMeritor's Light Vehicle Systems (LVS) business group in the capacity
of chief financial officer as it prepares to become an independent company,
to be named Arvin Innovation, and upon completion of the spin off, he will
become executive vice president and CFO of Arvin Innovation.
"In Jay's new role, he will drive ArvinMeritor's financial performance,
as well as provide overall financial direction and guidance to the
corporation," said Chip McClure, chairman, CEO and president. "He brings a
wealth of talent and experience to the position of CFO, and has a skill set
and perspective which will greatly benefit the company and our
shareholders.
"On behalf of the entire board of directors, I also want to thank Jim
for his outstanding contributions to ArvinMeritor over the years. We are
confident that he will drive success in the LVS business in his new role,"
continued McClure.
In his current position, Craig is responsible for worldwide financial
controls and compliance with Sarbanes-Oxley requirements; financial
systems; financial planning and management reporting; accounting policies;
and external reporting. He is also been responsible for leading the
company's efforts to realize overhead cost reduction for indirect materials
and savings associated with Performance Plus, the company's
transformational program.
Before joining ArvinMeritor, Craig served as president and CEO of
General Motors Acceptance Corp.'s (GMAC) Commercial Finance organization
from 2001 to 2006. Prior to that, he served as president and CEO of GMAC's
Business Credit division from 1999 until 2001. He joined GMAC as a general
auditor in 1997 from Deloitte & Touche, where he served as an audit
partner.
Craig holds a Bachelor of Science in accounting from Michigan State
University and a Master of Business Administration from Duke University in
Durham, N.C.
About ArvinMeritor
Today, ArvinMeritor, Inc. is a premier global supplier of a broad range
of integrated systems, modules and components to the motor vehicle
industry. The company serves commercial truck, trailer and specialty
original equipment manufacturers and certain aftermarkets, and light
vehicle manufacturers. Headquartered in Troy, Mich., ArvinMeritor employs
approximately 19,000 people in 24 countries. ArvinMeritor common stock is
traded on the New York Stock Exchange under the ticker symbol ARM. For more
information, visit the company's Web site at: http://www.arvinmeritor.com/.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )
SOURCE ArvinMeritor, Inc.
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Related links:
http://www.arvinmeritor.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO
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PRN Photo Desk, photodesk@prnewswire.com
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CONTACT:
Media Inquiries, Lin Cummins,
+1-248-435-7112, linda.cummins@arvinmeritor.com; Investor
Relations, Terry Huch, +1-248-435-9426,
Terry.huch@arvinmeritor.com, both of ArvinMeritor, Inc.
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