C&A gets a new CEO.(Final assembly)(Collins and Aikman Corp. appointed Frank Macher as Chief Executive Officer)(Brief Article)

Automotive News, July, 2005

Frank Macher last month declined an offer to preside over the clearance sale of 24 former Visteon Corp. plants for Ford Motor Co. Instead, he'll try to save a financially troubled auto supplier.

Last week, Macher was named CEO of Collins & Aikman Corp. The company filed for Chapter 11 bankruptcy protection on May 17 in the face of a severe cash crunch - just five days after CEO David Stockman quit.

With the 63-year-old Macher's arrival, Charles Becker, who had been acting chief, stepped aside.

Macher is no stranger to companies in bankruptcy. After a 30-year career at Ford, he spent three years trying to fix Federal-Mogul Corp., which he put into Chapter 11 bankruptcy in 2001 as it struggled to pay off a flood of asbestos lawsuits.

...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.