Meritor Announces Revised Business Segments
November 12, 2012
Meritor Inc. announced that it has revised its reporting structure to drive efficiencies across the corporation. Going forward, the company expects to report future results under two segments: Commercial Truck and Industrial and Aftermarket and Trailer.
The company is also announcing executive level changes associated with this action.
Joe Mejaly, formerly vice president and president, Aftermarket and Trailer, has elected to leave the company.
Pedro Ferro is appointed vice president and president of the company's Aftermarket and Trailer segment. In this role, he is responsible for managing all aspects of the company's Aftermarket and Trailer business, which supplies axles, brakes, suspension parts and other replacement and remanufactured products to commercial vehicle aftermarket customers in the United States, Canada, Mexico, Europe, South America and Asia Pacific. Through this segment, the company also supplies a wide variety of undercarriage products and systems for trailer applications.
Ferro will also assume responsibility for the company's Corporate Strategy group. He will continue to report directly to Chip McClure, chairman, CEO and president.
Most recently, Ferro was located in Shanghai, China, serving as vice president and president of the company's Industrial segment. Prior to rejoining Meritor in 2011, Ferro served as president, Commercial Vehicle Undercarriage, for The Marmon Group, a Berkshire Hathaway company. Ferro will relocate back to Meritor's headquarters in Troy, Mich.
Tim Bowes, formerly responsible for the company's Commercial Truck segment is appointed vice president and president of the company's new Commercial Truck and Industrial segment.
Bowes has led the Commercial Truck business since July 2011 after spending three years in China overseeing the Industrial group.
Bowes' responsibilities continue to include oversight of the company's drivetrain systems and components, including axles, drivelines, braking and suspension systems, primarily for medium and heavy duty trucks in North America, South America and Europe. Bowes will continue to report to McClure.