Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
May 17, 2002
TENNECO AUTOMOTIVE SELECTS NEW AUDITING FIRM
LAKE FOREST, ILLINOIS, MAY 17, 2002 - Tenneco Automotive (NYSE: TEN) announced today that the company's board of directors has appointed Deloitte & Touche LLP as the company's independent public accountants, replacing Arthur Andersen, LLP. The appointment is for the fiscal year ending on December 31, 2002 and is effective immediately. The company does not anticipate that the change in auditors will have any impact on the filing of the company's financial statements.
"We have been pleased with the professionalism and quality audit service provided by Arthur Andersen," said Mark P. Frissora, chairman and CEO, Tenneco Automotive. "However, in light of recent, well-publicized events involving Arthur Andersen, we felt that it was in the best interest of Tenneco Automotive and our stockholders to make this change."
Tenneco Automotive is a $3.4 billion manufacturing company with headquarters in Lake Forest, Ill., and 21,600 employees worldwide. Tenneco Automotive is one of the world's largest producers and marketers of ride control and exhaust systems and products, which are sold under the Monroe® and Walker® global brand names. Among its products are Sensa-Trac® and Reflex™ shocks and struts, Rancho® shock absorbers, Walker® Quiet-Flow™ mufflers and DynoMax® performance exhaust products, and Monroe® Clevite™ vibration control components.
Tenneco Automotive, Media Relations
(1) 847 482 5607
Tenneco Automotive, Investor Relations
(1) 847 482 5042