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3rd February 2005 - Jose Maria Alapont to be President and Chief Executive Officer of Federal-Mogul Corporation Federal-Mogul Corporation announced on 2nd February 2005 that Jose Maria Alapont has been chosen to be the President and Chief Executive Officer of Federal-Mogul, and that this decision has been authorized by the Court presiding over the Federal-Mogul Chapter 11 proceedings. Mr. Alapont also will join the board of directors of Federal-Mogul. Mr. Alapont, who has been chief executive officer and a member of the board of directors of IVECO -- the commercial vehicle company of the Fiat Group with annual sales in excess of 9 billion (Euro) -- will replace Robert S. ("Steve") Miller, who is serving as interim CEO of Federal-Mogul. Mr. Miller will continue to serve as chairman of Federal-Mogul's board of directors. Mr. Alapont brings to Federal-Mogul more than 30 years of strong leadership experience in both the automotive manufacturer and supplier industries. As chief executive officer of IVECO, Mr. Alapont ran one of the world's largest manufacturers in the transport sector. During his tenure at IVECO the Company consistently achieved profitable sales growth and efficiency gains. "I look forward to leading Federal-Mogul -- a company with more than 100 years of rich automotive history," Mr. Alapont said. "The opportunities that lie ahead for Federal-Mogul are exciting. The Company is well positioned for success given its commitment to technology, engineering excellence and innovation in addition to its broad product offerings and trusted brands. I am proud to join the dedicated workforce committed to creating value for our customers and stakeholders." Carl C. Icahn, the largest bondholder of Federal-Mogul, stated: "I was proud to be part of the search process for the new CEO, and believe that a man with Mr. Alapont's record and experience will prove to be a vital addition to Federal-Mogul and will help Federal-Mogul reach its great potential." "Mr. Alapont's appointment culminates an extensive search for the chief executive officer to lead Federal-Mogul into the future," said Steve Miller. "Mr. Alapont possesses every one of the characteristics Federal-Mogul requires from a CEO -- dynamic leadership skills, broad global automotive experience, a vast knowledge of technology and strong customer relationships. Mr. Alapont's extensive experience in engineering, operations, strategic planning, and the global market will serve Federal-Mogul well as it continues to improve its financial performance and grow its competitive advantage." Mr. Alapont joined Delphi Automotive Systems -- one of the world's largest and most diversified suppliers of automotive systems and components -- in 1997. Between 1997 and 2003, he served in a number of key positions. Mr. Alapont began his career at Delphi as executive director, Energy and Engine Management Systems. Soon after, he was appointed president, Europe, Asia and Middle East, at which time he became a member of the Delphi Strategy Board, the company's top policy-making group. When he left in 2003, Mr. Alapont was president of International Operations and vice president of Sales and Marketing. From 1990 to 1997, Mr. Alapont served in several senior leadership roles at Valeo -- a leading global automotive supplier. He began at Valeo as operations director of Engine Cooling Systems - Spain, and thereafter became operations director for Worldwide Heavy Duty Engine Cooling Systems. He was subsequently appointed group vice president of Worldwide Clutch Operations, and then group vice president of Worldwide Lighting Systems. Mr. Alapont began his automotive career at Ford Motor Company in 1974 and over the course of 15 years worked in increasingly more responsible positions -- from engineer at Ford of Spain to power train manager at Ford of Europe. A native of Spain, Mr. Alapont is fluent in Spanish, English, French and Italian. He earned a degree in industrial engineering and a Ph.D. in philology. About Federal-Mogul Federal-Mogul is a leading global automotive supplier offering a comprehensive portfolio of quality products, trusted brands and creative solutions. The Company utilizes its engineering and materials expertise, proprietary and innovative technology, manufacturing skill, distribution flexibility and marketing power to create value for its stakeholders. The Company's principal customers include many of the world's foremost original equipment manufacturers of vehicles and industrial products, and aftermarket retailers and wholesalers. Headquartered in Southfield, Michigan, Federal-Mogul's rich heritage began in Detroit, Michigan in 1899. Today, Federal-Mogul and its subsidiaries employ more than 45,000 people in 29 countries. Federal-Mogul products are sold under a variety of brands, including AE(R) engine products, Anco(R) wipers, BCA(R) bearings, Champion(R) spark plugs and wipers, Fel-Pro(R) gaskets, Ferodo(R) brake pads, Glyco(R) bearings, Goetze(R) piston rings, Moog(R) chassis products, National(R) oil seals, Nural(R) pistons, Payen(R) gaskets, Sealed Power(R) engine products and Wagner(R) lighting and brake products. For more information on Federal-Mogul, visit the company's Web site at www.federal-mogul.com Source: Federal-Mogul Corporation Press Release |