Saleen names Paul Wilbur new President & CEO
Posted Aug 9th 2007 7:27PM by Frank FilipponioFiled under: Aftermarket, Hirings/Firings, Saleen
Hancock Park Associates, the parent company of Saleen, recently wrapped up its purchase of American Specialty Cars Incorporated (ASC), the specialty roof and body maker based in Southgate, Michigan. As part of the deal, Hancock also got Paul Wilbur, the current President and CEO of ASC.Respecting his leadership in the few years he has been at the helm of ASC, they just announced that he will take over the same duties at Saleen, as well.
There appear to be some significant synergies between these two companies, so it looks like a good move. They are both niche vehicle manufacturers, but in slightly different areas. Together they can now offer OEMs a fuller range of custom systems and services. For now, ASC and Saleen will remain separate entities, although it's easy to foresee a time in the not-too-distant future where the operations can be streamlined. They are already working together on the 2008 Saleens, Ford Harley-Davidson F-150s, and painting all 2008 Dodge Vipers.
The next generation special edition Mustangs and F-150s are also on the drawing boards for the next two years. There's a full press release after the jump.[Source: Saleen]PRESS RELEASE:Paul Wilbur named PRESIDENT & CEO of two companies: Saleen and ASC~ Saleen and ASC Combine Competencies to Build Niche Vehicles ~ IRVINE, CALIF. (August 8, 2007) – Hancock Park Associates, the primary investor in Saleen Incorporated, recently completed the acquisition of assets of American Specialty Cars Incorporated (ASC).
Paul Wilbur, current President and CEO of ASC, was today appointed to the role of President and CEO of Saleen, as well. The strategic alignment of these two niche vehicle manufacturers will create a complete portfolio of products and services for future Saleen vehicles, aftermarket accessories and vehicles created for the world's original equipment manufacturers (OEMs). "Paul is one of the most dynamic automotive executives in the U.S. automotive industry with more than 26 years of industry experience; 21 years with OEMs and five years in the Tier 1 supply business," said Kevin Listen, a Hancock Park Associates partner. "His knowledge of the specialty vehicle business is paramount as he leads Saleen and begins to grow ASC's specialty open air and creative services businesses.
We expect a lot of good things to happen under Paul's leadership." In the near term, both ASC and Saleen will remain as separate companies, although the long term vision is to strategically integrate the two operations. While each company will maintain its unique focus, both companies have common platforms as low volume, specialty vehicle manufacturers.
The combined group will be comprised of OEM, Tier 1 and aftermarket business units. Along with Wilbur, Saleen will also be supported by Chris Theodore, the retired vice president of product development at Ford Motor Company, best known as the "father of the Ford GT program." Theodore will lead new product development for both companies and be its chief technology officer. Marques McCammon will assume the daily responsibilities at Saleen.
With great enthusiasm, the teams are currently working together to launch the 2008 Saleen model line, in addition to equipping all supercharged Ford Harley-Davidson Edition F-150s with Saleen's patented twin-screw supercharger and painting all 2008 Dodge Vipers. The group is especially looking forward to combining its efforts to produce the next generation of Ford Mustang and F-150-derived vehicles due out within the next two years. "The combination of Saleen's powertrain and chassis expertise, along with ASC's body engineering and design capabilities is no accident," says Wilbur. "Moving forward, both companies are excited to develop innovative products for the automotive industry.
Together, the two companies will have the expertise to design, engineer and manufacture amazing new specialty vehicle products. The synergies of the two companies create a clear leader in the niche vehicle business. I am also very excited to join the talented team at Saleen."
ABOUT ASCASC is a supplier of highly engineered and designed roof systems, body systems and other specialty-vehicle systems for the world's automakers. ASC also continues to have strong capabilities in Creative Services with one of the largest vehicle design capabilities found outside the OEM community. The company was founded in 1965 and is headquartered in Southgate, Michigan. For more information, visit www.ascglobal.com.
ABOUT SALEEN
Since the company's inception in 1984, Saleen Incorporated has produced over 12,000 complete and EPA-certified vehicles and is a nine-time Manufacturers' Champion in GT sports car racing. Saleen manufactures the American supercar - the Saleen S7, as well as the S281 Mustang, S331 Sport Truck and the Parnelli Jones Limited Edition Mustang. Saleen also supports OEM partner niche vehicle initiatives, including projects such as the Ford GT, supercharged Harley-Davidson Edition F-150 and the Dodge Viper program. Saleen's manufacturing facilities are located in Irvine, California and Troy, Michigan. For more information, visit www.saleen.com
Thursday, August 9, 2007
Wednesday, August 1, 2007
More on Wolfy Coming Back Home To Chrysler...
Bernhard to become Chrysler chairman
Popular executive makes a comeback, will assist LaSorda, who remains as CEO.
Christine Tierney and David Shepardson / The Detroit News
Wolfgang Bernhard, a senior adviser to Cerberus Capital Management LP and talented former top Chrysler executive, will return to the Auburn Hills automaker as the chairman of its board, people familiar with the situation said Thursday.
Tom LaSorda will remain CEO of Chrysler and will also be president in the new organization after the sale of Chrysler is concluded, they said.
Ever since DaimlerChrysler AG announced on May 14 that it was selling Chrysler to Cerberus, Cerberus executives have said LaSorda would stay on as CEO.
But Bernhard's role was less clear. As an adviser to Cerberus, he is influencing decisions in Auburn Hills, where he has an office. But he keeps a low profile.
His formal return after three years would likely energize Chrysler employees who recall the 46-year-old German executive as a dashing and dynamic figure.
It also represents a big comeback opportunity for Bernhard, who lost two high-profile jobs in four years after fierce boardroom battles.
"This is good news for Chrysler," said Daniel Gorrell, president of AutoStratagem, a research and consulting firm in Tustin, Calif. "He'll interject a sense of product urgency that Chrysler has been lacking -- and product is what Chrysler lives and dies on."
Dealers welcomed the prospect of Bernhard's return. "We need somebody that's strong," said Alan Helfman, vice president of River Oaks Chrysler Jeep in Houston.
"If you've ever been in a room with Wolfgang, vitality just spills out all around him."
A spokesman for DaimlerChrysler AG declined to comment on Bernhard's appointment, which was first reported by the German magazine Manager.
Cerberus issued a guarded denial. "There is no such plan at this time," spokesman Peter Duda said Thursday.
In a recent interview, Cerberus Chairman John Snow said the private-equity firm had been working on the structure of the board but declined to discuss potential members.
Sources close to the situation say there will be a board for Chrysler at the holding-company level, and two boards for the Chrysler automotive and financial services businesses. It was unclear whether Bernhard would head the automotive or holding-company board but he is expected to be the top director, the sources said.
Cerberus is paying $7.4 billion for 80.1 percent of Chrysler, and Stuttgart, Germany-based DaimlerChrysler will retain the rest. The deal is expected to close in the second week of August.
On Wednesday, DaimlerChrysler CEO Dieter Zetsche said he still expected the deal to close on schedule, sometime during the third quarter, despite recent difficulties in arranging some of the financing for Chrysler because of bond market jitters.
Zetsche, former CEO of Chrysler, and Bernhard, its former chief operating officer, arrived in Auburn Hills together in November 2000 to fix the U.S. automaker, which had begun to lose money.
They executed a painful restructuring but also brought excitement and a new sense of confidence to Chrysler.
In 2004, Bernhard was tapped to run DaimlerChrysler's luxury carmaker Mercedes-Benz, but he clashed with Mercedes veterans and powerful worker representatives. Days before he was to become head of Mercedes, Bernhard opposed DaimlerChrysler's then-CEO Jürgen Schrempp on whether to bail out the company's Japanese affiliate Mitsubishi Motors Corp. That sealed his fate at DaimlerChrysler.
He was subsequently hired by Volkswagen AG's then-CEO Bernd Pischetsrieder to run the big VW division.
Bernhard tackled VW's bloated costs and improved its lineup. But his position foundered in the fall of 2006 after Pischetsrieder was driven out. Bernhard left VW in January. Still on good terms with Zetsche, he was retained soon afterward by Cerberus, which was drafting its bid for Chrysler.
Gerald Meyers, a business professor at the University of Michigan and former chairman of the AMC automaker, said he would not be surprised if Bernhard were appointed chairman of the board.
"Whether it's formal or not, I think he is going to run the show," Meyers said. "He is either going to be the force behind the scenes or out front clearly. There's nothing passive about Wolfgang."
You can reach Christine Tierney at (313) 222-1463 or ctierney@detnews.com.
Popular executive makes a comeback, will assist LaSorda, who remains as CEO.
Christine Tierney and David Shepardson / The Detroit News
Wolfgang Bernhard, a senior adviser to Cerberus Capital Management LP and talented former top Chrysler executive, will return to the Auburn Hills automaker as the chairman of its board, people familiar with the situation said Thursday.
Tom LaSorda will remain CEO of Chrysler and will also be president in the new organization after the sale of Chrysler is concluded, they said.
Ever since DaimlerChrysler AG announced on May 14 that it was selling Chrysler to Cerberus, Cerberus executives have said LaSorda would stay on as CEO.
But Bernhard's role was less clear. As an adviser to Cerberus, he is influencing decisions in Auburn Hills, where he has an office. But he keeps a low profile.
His formal return after three years would likely energize Chrysler employees who recall the 46-year-old German executive as a dashing and dynamic figure.
It also represents a big comeback opportunity for Bernhard, who lost two high-profile jobs in four years after fierce boardroom battles.
"This is good news for Chrysler," said Daniel Gorrell, president of AutoStratagem, a research and consulting firm in Tustin, Calif. "He'll interject a sense of product urgency that Chrysler has been lacking -- and product is what Chrysler lives and dies on."
Dealers welcomed the prospect of Bernhard's return. "We need somebody that's strong," said Alan Helfman, vice president of River Oaks Chrysler Jeep in Houston.
"If you've ever been in a room with Wolfgang, vitality just spills out all around him."
A spokesman for DaimlerChrysler AG declined to comment on Bernhard's appointment, which was first reported by the German magazine Manager.
Cerberus issued a guarded denial. "There is no such plan at this time," spokesman Peter Duda said Thursday.
In a recent interview, Cerberus Chairman John Snow said the private-equity firm had been working on the structure of the board but declined to discuss potential members.
Sources close to the situation say there will be a board for Chrysler at the holding-company level, and two boards for the Chrysler automotive and financial services businesses. It was unclear whether Bernhard would head the automotive or holding-company board but he is expected to be the top director, the sources said.
Cerberus is paying $7.4 billion for 80.1 percent of Chrysler, and Stuttgart, Germany-based DaimlerChrysler will retain the rest. The deal is expected to close in the second week of August.
On Wednesday, DaimlerChrysler CEO Dieter Zetsche said he still expected the deal to close on schedule, sometime during the third quarter, despite recent difficulties in arranging some of the financing for Chrysler because of bond market jitters.
Zetsche, former CEO of Chrysler, and Bernhard, its former chief operating officer, arrived in Auburn Hills together in November 2000 to fix the U.S. automaker, which had begun to lose money.
They executed a painful restructuring but also brought excitement and a new sense of confidence to Chrysler.
In 2004, Bernhard was tapped to run DaimlerChrysler's luxury carmaker Mercedes-Benz, but he clashed with Mercedes veterans and powerful worker representatives. Days before he was to become head of Mercedes, Bernhard opposed DaimlerChrysler's then-CEO Jürgen Schrempp on whether to bail out the company's Japanese affiliate Mitsubishi Motors Corp. That sealed his fate at DaimlerChrysler.
He was subsequently hired by Volkswagen AG's then-CEO Bernd Pischetsrieder to run the big VW division.
Bernhard tackled VW's bloated costs and improved its lineup. But his position foundered in the fall of 2006 after Pischetsrieder was driven out. Bernhard left VW in January. Still on good terms with Zetsche, he was retained soon afterward by Cerberus, which was drafting its bid for Chrysler.
Gerald Meyers, a business professor at the University of Michigan and former chairman of the AMC automaker, said he would not be surprised if Bernhard were appointed chairman of the board.
"Whether it's formal or not, I think he is going to run the show," Meyers said. "He is either going to be the force behind the scenes or out front clearly. There's nothing passive about Wolfgang."
You can reach Christine Tierney at (313) 222-1463 or ctierney@detnews.com.
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