Daniel Ninivaggi replaces Kevin Freeland as Federal-Mogul co-CEO

Article by Anita Panait, on February 10, 2014

Kevin Freeland is exiting Federal-Mogul Corp. as one of its co-chief executives due to personal reasons, the company said in a statement. Freeland assumed the role in May 2014. Freeland will be replaced by board member Daniel Ninivaggi, who is also affiliated with the supplier’s controlling shareholder Carl Icahn.

The supplier also named Ninivaggi as CEO of its aftermarket group.  Ninivaggi is the third executive to hold the post in less than two years. Rainer Jueckstock remains the other co-CEO. Ninivaggi had served as president and CEO of Icahn Enterprises LP since 2010. He also had leadership roles at Tropicana Entertainment Inc. and has sat on boards of a number of Icahn-controlled companies like XO Holdings Inc. and Viskase Companies Inc.

Before joining Icahn, Ninivaggi was a counsel for Winston & Strawn LLP and held various executive roles at Lear Corp. like general counsel, chief administrative officer and executive vice president. Ninivaggi has an MBA from the University of Chicago and a law degree from Stanford Law School. Federal-Mogul emerged from bankruptcy in 2008 and reported net losses of $45 million and $117 million in 2009 and 2012, respectively.

The supplier initiated significant cost-cutting strategies in 2013, like the closure or downsizing of seven sites and a divestiture. In June that year, Federal-Mogul sold its connecting rod and camshaft business to JD Norman Industries Inc. These measures allowed the company to post $38 million in net income in the third quarter of 2013.

Topics: federal mogul

If you liked the article, share on:

Comments

Recommended

Imagine a sports car morphing into an SUV. Chevrolet initially revealed the FNR Concept at the previous Shanghai Auto Show in 2015. For this year, Chevy once again graces the...
by - April 22, 2017
From the moment FCA kicked off with its 3-month-long ad campaign until the day it unveiled the new Dodge Challenger SRT Demon, folks have been guessing what the exact figures...
by - April 22, 2017
Some people may think Audi Sport is a new company but it is in fact the motorsport division of Audi combined with the best of what Quattro GmbH can offer....
by - April 21, 2017
It is not a big secret that premium customers in China have a strong penchant for luxury cars with a spacious interior. In particular, premium customers in China purchase luxury...
by - April 21, 2017
Chinese automaker Chery did not leave a good impression last time they were in Australia - due to its cheap design. But this year, Chery showcases its new Tiggo Sport...
by - April 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries