FEDERAL-MOGUL NAMES CHIEF FINANCIAL OFFICER
FEDERAL-MOGUL NAMES CHIEF FINANCIAL OFFICER SOUTHFIELD, Mich., Nov. 13 /PRNewswire/ -- Dennis J. Gormley,
chairman and chief executive of Federal-Mogul Corporation (NYSE: FMO), today announced the appointment of Martin E. Welch III as senior vice president and chief financial officer. Welch will assume his new position effective Dec. 1, 1991.
"Marty's diverse and comprehensive experience complements our management team and provides an added resource in integrating our global financial activity," Gormley said. "The appointment was made in support of our corporate strategy to achieve world-class status and improve our return to shareowners." Welch, 43, joins Federal-Mogul from Chrysler Corporation (NYSE: C), where he has served as assistant treasurer - corporate finance since 1989. He joined Chrysler in 1982 as corporate accounting manager. Since that time, he has served in positions of increasing responsibility in a wide range of areas, including banking, audit and international finance. Prior to joining Chrysler, Welch served for five years as director of marketing accounting for the Fruehauf Division, Fruehauf Corporation. He began his career at Arthur Young & Company as audit manager from 1970 to 1977. Welch became a certified public accountant in 1972. He earned a bachelor of science degree in accounting and a master of business administration degree from the University of Detroit. He is married with four children and lives in Bloomfield Hills, Mich. Headquartered in Southfield, Federal-Mogul operates 35 plants, more than 100 distribution centers and four major research centers around the world. Its products include a variety of precision parts for the transportation, farm equipment, construction and manufacturing industries. -0- 11/13/91 /CONTACT: Lonnie Ross of Federal-Mogul, 313-354-9934/ (FMO C) CO: Federal-Mogul Corporation ST: Michigan IN: AUT SU: PER ML -- DE013 -- 3806 11/13/91 09:46 EST
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|Date:||Nov 13, 1991|
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