TROY, Mich. — Meritor has revised its financial reporting structure “to drive efficiencies across the corporation,” opting to report future results under two segments: Commercial Truck and Industrial, and Aftermarket and Trailer. The company also announced executive level changes associated with this action.
Pedro Ferro has been appointed vice-president and president of the company’s Aftermarket and Trailer segment. In the role, he will be responsible for managing all aspects of the company’s Aftermarket and Trailer business, which supplies axles, brakes, suspension parts and other replacement and remanufactured products to commercial vehicle aftermarket customers in North America, Europe, South America and Asia Pacific.
Ferro will also assume responsibility for the company’s Corporate Strategy group. He will continue to report directly to Chip McClure, chairman, CEO and president. Most recently, Ferro was located in Shanghai, China, serving as vice-president and president of the company’s Industrial segment. Prior to rejoining Meritor in 2011, Ferro served as president of commercial vehicle undercarriage for The Marmon Group. Ferro will relocate back to Meritor’s headquarters in Troy, Mich.
Joe Mejaly, formerly vice-president and president of Aftermarket and Trailer, has elected to leave the company, according to officials.
“During his 27 years with the company, Joe led the growth and expansion of the Aftermarket business in North America and around the world,” said McClure. “His contributions are largely responsible for the world class aftermarket distribution network we have today. We thank him for his service and wish him success in his future.”
Tim Bowes, formerly responsible for the company’s Commercial Truck segment has been appointed vice-president and president of the company’s new Commercial Truck and Industrial segment. Bowes has led the Commercial Truck business since July 2011 after spending three years in China overseeing the Industrial group.
“Since assuming leadership of the Truck group less than two years ago, Bowes has led significant improvements in optimizing the capacity model for the global Truck group, realigning pricing with the company’s value proposition, rationalizing the company’s footprint in Europe and managing Meritor’s investment in technology and product development for commercial trucks,” the company said in a release.
Bowes’ responsibilities will continue to include oversight of the company’s drivetrain systems and components, including axles, drivelines, braking and suspension systems, primarily for medium- and heavy-duty trucks in North America, South America and Europe, and now include the company’s Industrial segment that supplies drivetrain systems including axles, brakes, drivelines and suspensions for off-highway, military, construction, bus and coach, fire and emergency, and other industrial applications. The segment also includes the company’s business in Asia Pacific. Bowes will continue to report to McClure, the company announced.