Sachdev to lead corporate strategy
TROY, Mich., March 28 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) today announced that James Donlon has been named to the position
of senior vice president and chief financial officer, effective April 1, 2005.
In this position, Donlon will drive ArvinMeritor's financial performance, as
well as provide comprehensive financial direction and guidance to the
Rakesh Sachdev, vice president and controller, who has been responsible
for these duties during the search for a new CFO, will support Donlon until a
new controller is named. At the same time, Sachdev will assume a new role as
senior vice president of Corporate Strategy.
Donlon comes to ArvinMeritor from the position of senior vice president
and chief financial officer for Kmart Corporation, the $20 billion discount
retailer headquartered in Troy, Mich. From 1998 until 2003, he was senior
vice president and controller for the Chrysler Group at DaimlerChrysler
Corporation in Auburn Hills, Mich. Donlon joined DaimlerChrysler in 1979, and
held financial management and leadership positions of increasing
responsibility during his 25 years there, including that of director of
International Planning and New Venture Development. He began his career in
1969 with Ford Motor Company. Donlon holds a bachelor's degree in business
administration from California State University (Fresno) and a master's in
business administration from the University of Southern California.
"We are delighted that Jim is joining our team," said ArvinMeritor
Chairman, CEO and President Charles G. "Chip" McClure. "With more than 35
years in key financial positions around the world for both DaimlerChrysler and
Ford Motor Company, Jim's wealth of experience and expertise in automotive
operations, as well as his proven track record of leading a successful finance
team, will be a significant asset in achieving our goal to rationalize,
refocus and regenerate our company. His role in transforming Kmart's focus
from revenue to profit, and being a strong proponent of solid operating
metrics also will support ArvinMeritor's efforts to strengthen its financial
"We are grateful to Rakesh and the entire finance team for doing a great
job as we finalized our search for a new chief financial officer. In his new
role, Rakesh brings a strong financial background, extensive automotive
experience and exceptional operational knowledge to support our efforts in
advancing the company's global growth strategy."
ArvinMeritor, Inc. is a premier $8 billion global supplier of a broad
range of integrated systems, modules and components to the motor vehicle
industry. The company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and related aftermarkets.
Headquartered in Troy, Mich., ArvinMeritor employs approximately 31,000 people
at more than 120 manufacturing facilities in 25 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:
SOURCE ArvinMeritor, Inc.
both of ArvinMeritor, Inc.