Federal-Mogul Corporation : Federal-Mogul Board of Directors Elects Kevin P.
Freeland Co-CEO of Federal-Mogul Corporation and CEO, Global Aftermarket
SOUTHFIELD, Mich., May 29, 2013 ... The Board of Directors of Federal-Mogul
Corporation (NASDAQ: FDML), a global supplier of powertrain and safety
technologies, and of leading brands in the worldwide automotive aftermarket,
today announced the election of Kevin P. Freeland to the position of Co-Chief
Executive Officer of Federal-Mogul Corporation and Chief Executive Officer,
Federal-Mogul's Vehicle Components Segment (VCS), effective June 17, 2013.
Mr. Freeland will report to the company's Board of Directors. Federal-Mogul's
VCS is one of the largest independent global suppliers of leading,
premium-branded automotive parts to the automotive aftermarket. The company
manufactures and distributes more than 20 of the world's most recognized auto
parts brands, including ANCO^® wiper blades, Champion^® spark plugs, MOOG^®
chassis parts, and Wagner^® brake products.
"The Board is pleased to welcome Kevin to Federal-Mogul, and we look forward
to his leadership in growing the aftermarket division and building upon its
world-class products and strong customer base," said Carl C. Icahn, Chairman
of Federal-Mogul's Board of Directors.
Mr. Freeland joins Federal-Mogul after 32 years of merchandising, marketing
and procurement experience, most recently as Chief Operating Officer of
Advance Auto Parts, Inc. Prior to joining Advance Auto Parts, Mr. Freeland
spent eight years, from 1995 to 2003, with Best Buy Co., Inc., a specialty
retailer of consumer electronics, office products, appliances and software,
serving as Senior Vice President in its procurement and distribution group
and, ultimately, President of its Musicland Division.
"On behalf of the Federal-Mogul organization, we congratulate and welcome
Kevin and look forward to working with him to continue to strengthen
Federal-Mogul's position as a preferred supplier to the global independent
aftermarket," said Rainer Jueckstock, CO-CEO of Federal-Mogul and CEO of
Federal-Mogul's Powertrain Segment.
Federal-Mogul Corporation (NASDAQ: FDML) is a leading global supplier of
products and services to the world's manufacturers and servicers of vehicles
and equipment in the automotive, light, medium and heavy-duty commercial,
marine, rail, aerospace, power generation and industrial markets. The
company's products and services enable improved fuel economy, reduced
emissions and enhanced vehicle safety. Federal-Mogul operates two independent
business segments, each with a chief executive officer reporting to
Federal-Mogul's Board of Directors. Federal-Mogul's Powertrain Segment designs
and manufactures original equipment powertrain components and systems
protection products for automotive, heavy-duty, industrial and transport
Federal-Mogul's Vehicle Components Segment sells and distributes a broad
portfolio of products through more than 20 of the world's most recognized
brands in the global vehicle aftermarket, while also serving original
equipment vehicle manufacturers with products including braking, chassis,
wipers and other vehicle components. The company's aftermarket brands include
ANCO^® wiper blades; Champion^® spark plugs, wipers and filters; AE^®,
Fel-Pro^®, FP Diesel^®, Goetze^®, Glyco^®, Nüral^®, Payen^® and Sealed Power^®
engine products; MOOG^® steering and suspension parts; and Ferodo^® and
Wagner^® brake products. Federal-Mogul was founded in Detroit in 1899. The
company employs 45,000 people in 34 countries, and its worldwide headquarters
is in Southfield, Michigan, United States. For more information, please visit
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, fluctuations in domestic or foreign vehicle production,
fluctuations in the demand for vehicles containing our products, 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, the
success of the company's segmentation and corresponding effects and general
global and regional economic conditions. Federal-Mogul does not intend or
assume any obligation to update any forward-looking statements.
CONTACT: Steve Gaut (248) 354-7826 for investor and media questions
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Federal-Mogul Corporation via Thomson Reuters ONE
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