Frissora gets Tenneco post
LAKE FOREST, Ill. - Tenneco Automotive President Mark Frissora has been named CEO of the auto parts supplier, effective after the spinoff of the company from parent Tenneco Inc. in the fall.
Before he was named president in April, Frissora, 43, had been senior vice president of the company's worldwide original-equipment business.
Tenneco Automotive makes Monroe shocks, struts and Walker exhaust systems.
NEW PRIMUS PRESIDENT
FRANKLIN, Tenn. - Andy Menzyk is the new president of Primus Financial Services, a subsidiary of Ford Motor Credit Co. that serves brands other than Ford, Lincoln and Mercury. Menzyk succeeds Toby Hynes, who left to become president and general manager of independent distributor Gulf States Toyota Inc. Menzyk has been president of Ford Credit Canada for two years.
GM BATTLES VERDICT
LOS ANGELES - A month after a California jury hit General Motors with a record $4.9 billion product-liability verdict, GM has motioned for a new trial. On July 9, a Los Angeles County Superior Court jury found GM responsible for a 1993 car fire that severely burned five occupants of a 1979 Chevrolet Malibu. GM's motion for a new trial and a previous motion that the verdict be reversed are scheduled to be argued Aug. 26.
COBALT SELLS STOCK
SEATTLE - Cobalt Group Inc. raised $49.5 million by selling 27 percent of its stock to the public Aug. 5. But the automotive Internet software company got a cool reception, trading below its offering price of $11 per share. Cobalt offered 4.5 million shares to the public, opening at $9.88 and closing at $8.31 the first day. Its stock is trading on the Nasdaq market under the symbol CBLT.