Mark Frissora has resigned as chairman and CEO of supplier Tenneco Inc. to take the CEO job at car rental company Hertz Corp.
Frissora, 50, will leave his Tenneco job on July 19, the company said Tuesday. He was with the company for 10 years and was part of the spinoff of Tenneco's automotive unit in 1999.
Tenneco said it is beginning a search for a new CEO. In the meantime, four executives will run the company as part of an interim office of the CEO.
Director Paul Stecko will become nonexecutive chairman of the board in the interim, the company said. Stecko is CEO of Packaging Corp. of America.
The executives named to guide Tenneco are:
- Timothy Donovan, head of strategy and business development.
- Hari Nair, managing director for Europe, South America and India.
- Kenneth Trammell, CFO.
- Neal Yanos, general manager of North American original equipment ride control and aftermarket.
Tenneco, of Lake Forest, Ill., makes exhaust system and ride control components, such as shock absorbers. It ranks No. 40 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $3.42 billion in 2005.
You may e-mail Dale Jewett at [email protected]