TROY, Mich. ArvinMeritor Inc. announced yesterday that Charles “Chip” McClure will take over as its new chairman, chief executive officer and president effective Aug. 9, 2004.
McClure succeeds Larry Yost as chairman, who is retiring from the company. In January, Terry O’Rourke, president and chief operating officer, resigned from the company.
McClure has more than 25 years of automotive industry experience and was most recently president and CEO of Federal-Mogul. He also has been president of Detroit Diesel Corp., said ArvinMeritor.
McClure earned a master’s degree in business administration from the University of Michigan, and holds a bachelor of science degree in mechanical engineering from Cornell University. He is active on the Board of Directors of R.L. Polk and Company, Intermet Corporation, Detroit Renaissance, the Motor and Equipment Manufacturers Association (MEMA) and Horizons Upward Bound.
"I have always admired ArvinMeritor as a leader in engineering and technology," said McClure. "I also greatly respect the company for its strong focus on its customers and for effecting positive change in its community. I am delighted to join a company with such a strong legacy of high ethical standards and a dedicated, talented workforce. I look forward to building on the company’s strengths to create greater value for the shareholders."
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