DETROIT - Turnaround specialist Steve Miller is getting a $3 million (E2.48 million) signing bonus and a $1.5 million salary to become Delphi's chairman and CEO.
Miller is an auto industry veteran. Most recently, he was chairman of US partsmaker Federal-Mogul. He was also vice chairman at the former Chrysler Corp.
He is known as a corporate turnaround expert and has helped Federal-Mogul move closer to emerging from Chapter 11 bankruptcy protection.
Delphi has struggled as a result of decreased production by General Motors, its largest customer. The supplier also is embroiled in an internal accounting scandal that has led to the resignation of several high-ranking executives.
Miller, 63, succeeds J.T. Battenberg III, 62, at the supplier.
Miller starts July 1.