New Chairman Named for Accuride

Jan. 5, 2007
Keating seeking

January 3, 2006 — Accuride Corp., Evansville, IN, has named a new board chairman along with several new executive postings. Chief executive officer Terrence J. Keating has been named chairman of the automotive parts manufacturer, and will retain his role as CEO and a director of the company.

It's the second time in less than a year that Accuride has shuffled its executive ranks. Last February, the company — manufacturers of commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, seating assemblies, and other vehicle components marketed under brand names that include Accuride, Gunite, Imperial, Bostrom, Fabco, and Brillion — installed several new senior vice presidents to head its product groups.

"As chairman of the board and CEO of Accuride," Keating stated, "I will continue to drive Accuride's strategic plan calling for further optimization of our facilities and pursuit of global expansion. The new assignments of our key leaders will allow for intensified focus on these business initiatives, while strengthening the versatility of our topside management team."

Keating succeeds James H. Greene Jr. as chairman, though Greene will remain on the board as its lead independent director. Greene is affiliated with KKR L.L.C., a part of the investment banking firm Kohlberg Kravis Roberts & Co.

In the other appointments, John R. Murphy, now president and chief financial officer of Accuride, will continue as president and take the additional title of chief operating officer.

David K. Armstrong, now senior vice president - Finance and general counsel, has been named senior vice president and CFO, and continues as general counsel.

Stephen A. Martin, formerly Accuride's associate general counsel, has been named vice president / corporate counsel.

"Today's appointments reflect a logical progression of Accuride's executive management team," stated Greene. "The changes in senior leadership accountabilities allow for the continued pursuit of Accuride's strategic business initiatives, and are in support of the seamless succession planning at the company."