ArvinMeritor begins hunt for new CEO
TROY, Mich. (Feb. 12, 2004) — Motor vehicle component supplier ArvinMeritor has hired an international executive firm to scout possible successors to chairman and CEO Larry Yost.
Yost will remain in his current capacity until an appropriate successor is found. More than a year ago, Yost, who turns 66 this month, announced his plans to retire at age 65. While he has put those plans on hold temporarily, his original intention to retire upon the board of director’s selection of a successor remains unchanged.
“I have assured the board that I will stay as long as they need me, remaining completely dedicated to driving the success of this company,” said Yost. “I am also committed to our continued focus on serving our customers, as well as on enhancing shareowner value by consistently improving the financial performance of the company.”
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