Frank Macher last month declined an offer to preside over the clearance sale of 24 former Visteon Corp. plants for Ford Motor Co. Instead, he'll try to save a financially troubled auto supplier.
Last week, Macher was named CEO of Collins & Aikman Corp. The company filed for Chapter 11 bankruptcy protection on May 17 in the face of a severe cash crunch -- just five days after CEO David Stockman quit.
With the 63-year-old Macher's arrival, Charles Becker, who had been acting chief, stepped aside.
Macher is no stranger to companies in bankruptcy. After a 30-year career at Ford, he spent three years trying to fix Federal-Mogul Corp., which he put into Chapter 11 bankruptcy in 2001 as it struggled to pay off a flood of asbestos lawsuits.