Federal-Mogul CEO Retires at the end of this month takes office in early April

Fraport Group, a parts supplier, announced that its current President and CEO José Maria Alapont (pictured left) will resign from his position on March 31 this year.

Rainer Jueckstock (pictured right), Senior Vice President of the Federal-Mogul Power Energy Business Unit, has been elected as the new CEO and will enter into force on April 1 this year. Meanwhile, Jueckstock will join the Federal-Mogul Board of Directors.

After the new CEO took office, Alapont will continue to remain on the Federal Republic of Macedonia’s board of directors until 2013, where Federal-Mogul will hold an annual general meeting of shareholders. During the company’s transition period, Alapont will serve as an advisor.

In addition, the Federal-Mogul Board of Directors decided to adjust the company's organizational structure, set up an independent aftermarket business unit and hired a headhunting company to recruit a CEO for the business unit.