New CEO For Federal-Mogul
Federal-Mogul Corp. announced that Chief Executive Jose Maria Alapont will retire at the end of March. He will be succeeded by Rainer Jueckstock, currently senior vice president of the company’s Powertrain Energy business unit, as of April 1. Jueckstock also will join the company's board.
Federal-Mogul said Alapont would remain with it in a consulting role to assist with the transition. Alapont also will remain on the board through the 2013 annual meeting.
The Southfield, Michigan-based company also said it is modifying its corporate structure to create a separate and independent aftermarket, or replacement parts division. Federal-Mogul said it has hired a search firm to find the new unit's CEO, who will report directly to the board.