24th
March 2010 -
Federal-Mogul President and CEO Extends
Employment Agreement
Federal-Mogul reported
today that Jose 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 Jose 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 Jose 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.
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.
Source:
Federal-Mogul Press Release