TROY, Mich., (Jan. 17, 2013) – Meritor, Inc. (NYSE: MTOR) has announced a series of organizational changes designed to more closely align its overall structure with its recent business segment consolidation.
The company expects to report results under two segments:
· Commercial Truck & Industrial
· Aftermarket & Trailer
“These appointments will drive efficiencies across the organization while keeping us very focused on our customers and products around the world,” said Chip McClure, chairman, CEO and president, Meritor. “In addition, these changes will streamline decision-making and ultimately support our ongoing efforts to reduce costs.”
Commercial Truck & Industrial
Leading the Commercial Truck & Industrial segment in new and expanded roles under the direction of Tim Bowes, president, are the following:
· Joe Plomin is appointed vice president, Europe and Australia. In this role, Plomin is responsible for Meritor’s brake and axle business in these regions. Previously, he was vice president, Global Brakes, Commercial Truck. Plomin is based in Europe.
· Chris Snodgrass, vice president, North America, is responsible for the company’s brake, axle and specialty business in the region.
· Geoff Dong is appointed managing director, China, ASEAN and Japan. In this role, Dong is responsible for the planning and execution of all OE and aftermarket business activities in these regions.
· Thimmaiah NP continues in his role as managing director of India. In this role, he leads all of Meritor’s OE and aftermarket activities in India.
· Silvio Barros, managing director, South America, will assume an expanded role to include responsibility for the Aftermarket business in the region.
· Tim Burns, vice president, Global Defense and Off-Highway, will continue in his current role.
Additional appointments in the Commercial Truck & Industrial segment are:
· Brett Penzkofer is appointed general manager, Global Product Strategy. In this new role, Penzkofer will be responsible for creating, implementing and leading global product strategy and coordinating all product development activities. Previously, he served as senior director of Finance for the company’s Commercial Truck business.
· Steve Gudgel will repatriate to the United States to become general manager, Global Business Initiatives. Gudgel will support a variety of programs designed to improve the overall efficiency of the business globally. Gudgel was previously the managing director of the company’s axle and driveline business in Europe.
Aftermarket & Trailer
Under the direction of Pedro Ferro, president, Aftermarket & Trailer, the company announced the following appointments:
· Craig Frohock is appointed general manager, North America. Frohock will be responsible for the planning, organization and implementation of all sales, business strategies and policies in North America for the Aftermarket and Trailer business.
· Terry Livingston is appointed general manager, Global Product Management and Shared Services. Livingston will be responsible for developing and implementing business growth strategies for the global Aftermarket & Trailer business segment. Previously, Livingston was general manager, Aftermarket, United States and Canada.
· Michael Boe, managing director, Aftermarket, Europe, will continue in his current role.
More details of the restructuring program and its associated financial impact will be highlighted during the company’s Analyst Day to be held in New York City on Feb. 5.
About Meritor, Inc.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.