Attached files
| file | filename |
|---|---|
| 8-K - Federal-Mogul Holdings LLC | v178258_8k.htm |
| EX-10.3 - Federal-Mogul Holdings LLC | v178258_ex10-3.htm |
| EX-10.1 - Federal-Mogul Holdings LLC | v178258_ex10-1.htm |
| EX-10.4 - Federal-Mogul Holdings LLC | v178258_ex10-4.htm |
| EX-10.2 - Federal-Mogul Holdings LLC | v178258_ex10-2.htm |
CONTACT: Steve
Gaut 248/354-7826
Federal-Mogul
President and CEO Extends Employment Agreement
José
Maria Alapont to remain with the company through March 2013
SOUTHFIELD,
Mich., March 19, 2010…Federal-Mogul reported today that José Maria Alapont has
agreed to remain as president and CEO through March 2013, and will continue as a
member of the board of directors.
Mr.
Alapont joined Federal-Mogul in 2005 and is credited, in conjunction with Carl
Icahn, with guiding the company to exit from difficult bankruptcy proceedings in
the United States and United Kingdom. Under his leadership the
company has implemented its strategy of sustainable global profitable growth,
restructured its global manufacturing and engineering network to better serve
its diverse customer base and continued to invest in differentiating
technologies to enhance fuel economy, reduce emissions and improve vehicle
safety.
Federal-Mogul
has become a leading, world-class, diversified, global company based on
technology, innovation and competitive cost.
“I
am pleased to stay with the company to continue to develop our strategy of
sustainable global profitable growth and look forward to working with our
Chairman Carl Icahn and the rest of the board of directors, the management team
and all the men and women of Federal-Mogul to keep satisfying our customers and
shareholders,” said Alapont.
Carl
Icahn stated that he is delighted that José Maria Alapont has agreed to remain
with the Company for another three years. Mr. Icahn further stated
that he is “looking forward to continuing to work with José Maria.”
Mr.
Alapont joined the company as president, CEO and a member of the board of
directors in March 2005. He served as chairman of the board of
directors from 2005 to 2007. He has more than 35 years of global
leadership experience in both vehicle manufacturers and suppliers with business
and operations responsibilities in the Americas, Asia Pacific, Europe, Middle
East and Africa regions. Mr. Alapont, between 2003 and 2005 was chief
executive officer and a member of the board of directors of IVECO, the
commercial vehicle company of the Fiat Group. He served in various
key executive positions at Delphi Corporation, a global automotive supplier from
1997 to 2003. He began at Delphi as executive director of
international operations. In 1999, Mr. Alapont was named president of
Delphi Europe, Middle East and Africa and a vice president of Delphi Corporation
and also became a member of the Delphi Strategy Board, the company’s top
policy-making group. In 2003, Mr. Alapont was named president of
Delphi’s international operations, and vice president of sales and
marketing. Mr. Alapont, from 1990 to 1997, served in several
executive roles and was a member of the Strategy Board at Valeo, a global
automotive supplier. He started at Valeo as managing director of
engine cooling systems, Spain. In 1991, Mr. Alapont was named
executive director of Valeo’s worldwide heavy-duty engine cooling
operations. He became group vice president in 1992, of Valeo’s
worldwide clutch and transmission components division. He was named
group vice president of the company’s worldwide lighting systems division in
1996. Mr. Alapont began and developed his automotive career from 1974
to 1989 at Ford Motor Company, and over the course of 15 years, starting at Ford
of Spain, progressed through different management and executive positions in
quality, testing and validation, manufacturing and purchasing positions at Ford
of Europe. A native of Spain, Mr. Alapont earned degrees in industrial
engineering from the Technical School of Valencia in Spain and in philology from
the University of Valencia in Spain.
-2-
About
Federal-Mogul
Federal-Mogul
Corporation is a
leading global supplier of powertrain and safety technologies, serving the
world’s foremost original equipment manufacturers of automotive, light
commercial, heavy-duty, agricultural, marine, rail, off-road and industrial
vehicles, as well as the worldwide aftermarket. The company’s leading technology
and innovation, lean manufacturing expertise, as well as marketing and
distribution deliver world-class products, brands and services with quality
excellence at a competitive cost. Federal-Mogul is focused on its sustainable
global profitable growth strategy, creating value and satisfaction for its
customers, shareholders and
employees. Federal-Mogul was founded in Detroit in
1899. The company is headquartered in Southfield, Michigan, and
employs nearly 39,000 people in 35 countries. Visit the company’s Web site at
www.federalmogul.com.
Forward-Looking
Statements
Statements
contained in this press release, which are not historical fact, constitute
"Forward-Looking Statements." Actual results may differ materially due to
numerous important factors that are described in Federal-Mogul's most recent
report to the SEC on Form 10-K, which may be revised or supplemented in
subsequent reports to the SEC on Forms 10-Q and 8-K. Such factors include, among
others, the cost and timing of implementing restructuring actions, the Company's
ability to generate cost savings or manufacturing efficiencies to offset or
exceed contractually or competitively required price reductions or price
reductions to obtain new business, conditions in the automotive industry, and
certain global and regional economic conditions. Federal-Mogul does not intend
or assume any obligation to update any forward-looking statement to reflect
events or circumstances after the date of this press release.
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