SOUTHFIELD, Mich., July 10 /PRNewswire/ -- The Federal-Mogul Corporation
Board of Directors has appointed Charles G. (Chip) McClure, 49, as
Federal-Mogul's chief executive officer and president, effective July 11,
2003. Frank E. Macher, 62, will continue as Chairman of the Board.
(Photo: http://www.newscom.com/cgi-bin/prnh/20030710/DETH006
http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO )
McClure's move from president and chief operating officer to CEO and
president is consistent with the succession plan announced January 11, 2001
when both McClure and Macher joined Federal-Mogul.
"I am very pleased with the appointment of Chip McClure to succeed me as
CEO and look forward to continuing our strong professional relationship," said
Macher. "Together, we have significantly improved business results,
strengthened customer relations and developed a strategic plan to
competitively move this company forward. I welcome the opportunity as
chairman to help guide this company toward a resolution of our asbestos
issues. I look forward to the day we emerge as one of the pre-eminent
automotive suppliers with a strong balance sheet ready to capitalize on our
innovative products and technologies for future growth."
Federal-Mogul is a global supplier of automotive components, modules,
sub-systems and systems serving original equipment manufacturers and the
aftermarket. The company utilizes its engineering and materials expertise,
proprietary technology, manufacturing skill, distribution flexibility and
marketing power to deliver products, brands and services of value to its
customers. Federal-Mogul is focused on the globalization of its teams,
products and processes to bring greater opportunities for its customers and
employees, and value to its constituents. Headquartered in Southfield,
Michigan, Federal-Mogul was founded in Detroit in 1899 and today employs
47,000 people in 25 countries. For more information on Federal-Mogul, visit
the company's web site at http://www.federal-mogul.com .
SOURCE Federal-Mogul Corporation
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http://www.newscom.com/cgi-bin/prnh/20030710/DETH006
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Related links:
http://www.federal-mogul.com
Company News On-Call:
http://www.prnewswire.com/comp/306225.html
CONTACT:
Kimberly Welch, +1-248-354-1916, or Jim
Fisher, +1-248-354-9809, both of Federal-Mogul Corporation
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