Rainer Jueckstock, the senior vice president of Federal Moguls Powertrain Energy business unit, would take over as the new CEO effective 1st April 2012. He will also join the company’s Board of Directors. Alapont would continue with the company in a consulting role and would remain on the board through the 2013 annual meeting of shareholders.
Jueckstock joined the company in 1990, has has held several leadership roles in the company, including senior vice president, pistons, rings and liners; vice president, rings and liners; operations director, piston rings, Europe; and managing director of the Friedberg, Germany, operation. He also was sales director for rings and liners, Europe; finance controller in Burscheid, Germany; and finance manager in Dresden, Germany.
Federal-Mogul also announced that its Board of Directors has decided to modify the company’s corporate structure to create a separate and independent Aftermarket division and has engaged a search firm to fill the position of Chief Executive Officer of the Aftermarket division. The Chief Executive Officer of the Aftermarket Division will report directly to the company’s Board of Directors. Federal-Mogul’s Aftermarket business unit is one of the largest independent global suppliers of leading, premium branded automotive parts, with global sales of $2.3 billion in 2011. Federal Mogul manufactures pistons, spark plugs, windshield wiper blades, brake pads and other auto components.
“José Maria has been an exceptional leader in turning around Federal-Mogul and building it into a world-class global enterprise. On behalf of Federal-Mogul’s Board of Directors, I want to sincerely thank José Maria for his dedicated service, for remaining with the company longer than he had originally committed and for his willingness to assist the company during this transition. José Maria has more than vindicated my belief in him when he joined Federal-Mogul seven years ago,” said Carl C. Icahn, Federal-Mogul’s non-executive chairman.
The company is headquartered in Southfield, Michigan, United States and employs about 45,000 people in 34 countries.