TROY, Mich., May 6 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) today announced that Jeffrey "Jay" Craig, currently senior vice
president and controller, has been named senior vice president and CFO of the
company, effective immediately.
Craig replaces James Donlon, executive vice president and CFO at
ArvinMeritor since March 2005. Donlon will immediately begin supporting
ArvinMeritor's Light Vehicle Systems (LVS) business group in the capacity of
chief financial officer as it prepares to become an independent company, to be
named Arvin Innovation, and upon completion of the spin off, he will become
executive vice president and CFO of Arvin Innovation.
"In Jay's new role, he will drive ArvinMeritor's financial performance, as
well as provide overall financial direction and guidance to the corporation,"
said Chip McClure, chairman, CEO and president. "He brings a wealth of talent
and experience to the position of CFO, and has a skill set and perspective
which will greatly benefit the company and our shareholders.
"On behalf of the entire board of directors, I also want to thank Jim for
his outstanding contributions to ArvinMeritor over the years. We are
confident that he will drive success in the LVS business in his new role,"
In his current position, Craig is responsible for worldwide financial
controls and compliance with Sarbanes-Oxley requirements; financial systems;
financial planning and management reporting; accounting policies; and external
reporting. He is also been responsible for leading the company's efforts to
realize overhead cost reduction for indirect materials and savings associated
with Performance Plus, the company's transformational program.
Before joining ArvinMeritor, Craig served as president and CEO of General
Motors Acceptance Corp.'s (GMAC) Commercial Finance organization from 2001 to
2006. Prior to that, he served as president and CEO of GMAC's Business Credit
division from 1999 until 2001. He joined GMAC as a general auditor in 1997
from Deloitte & Touche, where he served as an audit partner.
Craig holds a Bachelor of Science in accounting from Michigan State
University and a Master of Business Administration from Duke University in
Today, ArvinMeritor, Inc. is a premier global supplier of a broad range of
integrated systems, modules and components to the motor vehicle industry. The
company serves commercial truck, trailer and specialty original equipment
manufacturers and certain aftermarkets, and light vehicle manufacturers.
Headquartered in Troy, Mich., ArvinMeritor employs approximately 19,000 people
in 24 countries. ArvinMeritor common stock is traded on the New York Stock
Exchange under the ticker symbol ARM. For more information, visit the
company's Web site at: http://www.arvinmeritor.com/.
SOURCE ArvinMeritor, Inc.
CONTACT: Media Inquiries, Lin Cummins, +1-248-435-7112,
firstname.lastname@example.org; Investor Relations, Terry Huch,
+1-248-435-9426, Terry.email@example.com, both of ArvinMeritor, Inc.
Web site: http://www.arvinmeritor.com