Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
July 19, 2005
TENNECO AUTOMOTIVE ANNOUNCES EXECUTIVE CHANGES
Company Positions for Future Growth
LAKE FOREST, ILLINOIS, JULY 19, 2005 - Tenneco Automotive (NYSE: TEN) announced executive changes today that adjust leadership responsibilities to best position the company for future growth. These transitions will begin immediately.
"We are making adjustments that will help us successfully execute our strategies and position Tenneco Automotive for greater success," said Mark P. Frissora, chairman and CEO, Tenneco Automotive. "These leadership changes put the right people in the right positions by aligning resources and talents against specific needs."
The company announced that Timothy R. Donovan, 49, executive vice president, managing director, Asia Pacific and general counsel, has been appointed to the newly created position of executive vice president, strategy and business development in addition to continuing to serve as the corporation's general counsel. Donovan will oversee all of the company's strategy and business development activities including potential new joint ventures, strategic alliances, market expansion and opportunistic acquisitions. Donovan also serves on the company's board of directors.
"Tim Donovan has done an excellent job leading our Asia Pacific businesses in a period of rapid growth, particularly in China. I'm looking forward to having him in this newly created role, which is key to accelerating our growth strategies worldwide," said Frissora. "Tim's strategic leadership, operations experience, global skills and legal perspective are the right formula for identifying and capturing the best growth opportunities to help ensure Tenneco Automotive's future success."
Timothy E. Jackson, 48, senior vice president for global technology and manufacturing, will assume the role of senior vice president technology and general manager, Asia Pacific, which will include the company's operations in China, Thailand, Australia and the aftermarket operations in the region. Jackson's extensive experience in manufacturing and engineering will be important to managing growth in this region, where the company will be launching 23 new OE platforms over the next 12 months. His technical expertise will also enhance and accelerate the company's plans to establish a ride and emission control engineering center in China, as previously announced. The new engineering center will provide additional engineering resources to better serve the company's growing customer base in China. Jackson will relocate to Shanghai.
"Tim Jackson has led our worldwide improvement in manufacturing efficiency and has been a catalyst for maintaining Tenneco Automotive's technology leadership position," said Frissora. "His manufacturing background and technical skills will help leverage Tenneco Automotive's global manufacturing and engineering capabilities in the growing Asia Pacific markets."
Tenneco Automotive's Japanese and Korean original equipment businesses, key strategic growth areas for the company, will report directly to the office of the Chairman and CEO. Jeff Jarrell, 51, vice president, Japan and Korea global OEM business, will join the company's senior management team and report directly to Mark Frissora. This change flattens the management structure for this global business and highlights the importance of continued growth with these customers.
The company's India operations will report to Hari N. Nair, 45, executive vice president and managing director, Europe and South America. This change streamlines management of some European engineering and manufacturing resources already dedicated to these operations with the goal of accelerating the company's efforts to grow the engineering and quality standards at all of its India-based operations.
Paul Schultz, 54, senior vice president, global supply chain management, will assume responsibility for the company's global manufacturing. In addition to global supply chain management, Schultz currently leads the company's Six Sigma efforts. Further integrating Tenneco Automotive's global supply chain management and manufacturing will strengthen these functions and capture synergies, especially in the Lean manufacturing and Six Sigma initiatives.
Timothy R. Donovan has grown the company's businesses in Asia including establishing two new joint ventures in China and two strategic alliances with Japanese suppliers, which helped propel the company's recent growth with Japanese OEMs. He joined Tenneco Automotive as senior vice president and general counsel in August 1999, responsible for all legal aspects of the company's global business. In June 2001, he was also named general manager for the international group, which included South America and Asia operations and the company's Japanese original equipment business worldwide. In 2004, he was named managing director of Asia Pacific. Prior to joining Tenneco Automotive, he was a partner and chairman of the corporate and securities group at the law firm of Jenner & Block, where he was also a member of the firm's executive and finance committees.
Timothy E. Jackson has served as senior vice president for global technology and manufacturing since 2002. In this role, he has successfully led the company's global efforts to design products for ease of manufacture and drive standardization in all engineering and manufacturing processes worldwide. Jackson joined Tenneco Automotive in 1999 as senior vice president North American original equipment. He also served, in an interim role, as general manager of the European original equipment emission control business. Many of the vehicle platforms in the China market originate in Europe and the company's European engineering and technical centers play key roles in supporting these programs. Prior to joining Tenneco Automotive, he was with ITT Industries as president of the automotive fluid handling systems division and served in management positions with BF Goodrich Aerospace and General Motors Corporation.
Hari N. Nair has led the restructuring and financial turnaround of the company's European operations since 2001. Prior to assuming his current position, he was senior vice president and managing director for the international group, which included operations in Asia, South America and the Japanese original equipment business worldwide. From 1997 to 1999, Nair was based in Singapore as the managing director for Asia with responsibility for all operations and development projects in the region. It was during this time that he grew the company's presence in India by establishing its exhaust joint venture there. Previously, as director of international business development, Nair was instrumental in leading Tenneco's entry into India with the establishment of its hydraulics ride control joint venture in 1994. Prior to joining Tenneco Automotive in 1987, Nair was in finance with General Motors.
Paul Schultz joined Tenneco Automotive in 2002 and has successfully established a very effective integrated global supply chain management organization. He has responsibility for the company's worldwide purchasing, logistics and material management functions. Schultz joined the company from Ingersoll-Rand where he served as vice president, supply chain management for the industrial products division, which included worldwide manufacturing operations, and corporate vice president of manufacturing operations for the company's joint venture with Halliburton. He was also previously with AlliedSignal, where he held similar positions including corporate director of global supply chain management and manufacturing.
Jeff Jarrell has worked exclusively with Asian OEMs for the past 18 years, most recently as vice president of the Japanese original equipment business and Asia business development. Previously he served as the business unit director for the international vehicle group. Jarrell joined Tenneco Automotive in 1981.
Tenneco Automotive is a $4.2 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 18,400 employees worldwide. Tenneco Automotive is one of the world's largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco Automotive markets its products principally under the Monroe®, Walker®, Gillet® and Clevite® Elastomer brand names. Among its products are Sensa-Trac® and Monroe Reflex® shocks and struts, Rancho® shock absorbers, Walker® Quiet-Flow® mufflers, Dynomax® performance exhaust products, and Clevite® Elastomer noise, vibration and harshness control components.
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