DETROIT - ArvinMeritor Inc. on Thursday named Charles "Chip" McClure chairman, CEO and president. He replaces Larry Yost, who is retiring.
McClure, 50, had been CEO of Federal-Mogul Corp. since July 2003. He has more than 25 years of automotive industry experience, ArvinMeritor says.
Federal-Mogul named Steve Miller, 62, to interim CEO. Miller is non-executive chairman of Federal-Mogul's board of directors. He has served as chairman and CEO of Bethlehem Steel Corp., and has more than 25 years of automotive industry experience, Federal-Mogul says.
Yost, 66, built ArvinMeritor from a spinoff of Rockwell Automotive in 1997, several joint ventures and a merger with Arvin Industries Inc. in 2000. He had announced his intention to retire this year.
ArvinMeritor of Troy, Mich., is a supplier of air and emission technologies, aperture and undercarriage systems, drivetrains, braking and suspension systems and specialty components for the light-vehicle and heavy truck industries. Its North American sales of automotive parts was $1.96 billion in 2003.
Federal-Mogul of Southfield, Mich., supplies pistons, piston rings and liners, valvetrain and transmission productions, bearings and other parts. The company is operating under Chapter 11 bankruptcy protection. Its 2003 North American auto parts sales were $1.26 billion.
Reuters contributed to this report.