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Daily news and top headlines for manufacturing professionals

A123 Systems Reorganizes And Names New CEO

October 10, 2013 11:31 am | News | Comments

Battery maker A123 Systems said Wednesday that Jason Forcier, the head of its automotive systems business, will become CEO of the company as it reorganizes under new ownership. The company was acquired in a bankruptcy auction by Chinese auto parts conglomerate Wanxiang Group.

What If Car Boss Mulally Took Over At Microsoft?

October 9, 2013 8:07 am | by Dee-Ann Durbin and Ryan Nakashima, AP Business Writers | Boeing | News | Comments

Mulally says he's made no changes to his plan to stay at Ford through the end of 2014. But he hasn't denied rumors that Microsoft Corp. is courting him. Ford's board of directors will gather in Dearborn, Mich., starting Wednesday. One of the items on the agenda will be a discussion of Mulally's future at the company.

Obama Climate Adviser Stepping Down

October 8, 2013 8:00 am | News | Comments

President Barack Obama's top adviser on environmental and climate issues is leaving. Heather Zichal has been advising Obama for five years and is the architect of his climate change plan. She also advises Obama on energy issues. Zichal plans to leave the White House within a few weeks.

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NY Frees Ex-Tyco Exec Swartz On Parole

October 4, 2013 2:11 pm | News | Comments

Swartz, once Tyco's chief financial officer, was convicted along with former CEO Dennis Kozlowski on 22 counts of grand larceny, conspiracy, falsifying records and violating business law after prosecutors claimed they gave themselves millions in illegal bonuses and forgiven loans.

Oracle Defends CEO's Pay Amid Shareholder Unrest

October 2, 2013 1:40 pm | News | Comments

Oracle is trying to ward off a shareholder rebellion against policies that have consistently made its billionaire co-founder, Larry Ellison, one of the best-paid CEOs in the world. Oracle Corp. awarded Ellison a pay package valued at $78.4 million in its last fiscal year, down from $96.2 million the previous year.

Oracle CEO Snubs Big Crowd To Watch America's Cup

September 25, 2013 7:53 am | by Michael Liedtke, AP Technology Writer | News | Comments

About 60,000 people have come from all over the world to attend Oracle's biggest customer conference of the year, but Oracle CEO Larry Ellison left no doubt Tuesday that his boating team's defense of the America's Cup is a higher priority.     

Nokia To Pay Outgoing CEO Elop $25M

September 20, 2013 7:23 am | News | Comments

Nokia Corp. says it will pay outgoing CEO Stephen Elop a compensation package of some $25 million (19 million euros) when he leaves the company to move over to Microsoft. The announcement comes in the wake of Microsoft's plans to buy Nokia's phone business for $7.2 billion, including a portfolio of patents and services.

CH2M Hill Engineering Firm Gets New CEO

September 18, 2013 7:47 am | News | Comments

Jacqueline Hinman has been named chief executive officer of CH2M Hill, making her one of the few women to run a major U.S. engineering firm as the company's revenue continues to soar. Hinman will assume the post Jan. 1 when current CEO Lee McIntire steps down. McIntire will remain chairman of the board.

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Eiji Toyoda, Key Figure In Toyota's Rise, Dies

September 17, 2013 7:58 am | by Yuri Kageyama, AP Business Writer | News | Comments

Eiji Toyoda, a member of Toyota's founding family who helped create the super-efficient "Toyota Way" production method, has died. He was 100.Toyoda, a cousin of the Japanese automaker's founder Kiichiro Toyoda, died Tuesday of heart failure at Toyota Memorial Hospital in Toyota city, central Japan.

Gates Stays Atop Forbes List Of America's Richest

September 16, 2013 10:04 am | News | Comments

Microsoft Corp. co-founder Bill Gates is still America's richest man, taking the top spot in the Forbes 400 list for the 20th-straight year with a net worth of $72 billion.Investor Warren Buffett, the head of Berkshire Hathaway Inc., remains in second place with $58.5 billion.

Ford's U.S. Sales And Marketing Chief To Retire

September 13, 2013 11:38 am | News | Comments

Ford Motor Co.'s marketing and sales chief in the U.S. is retiring as of Nov. 1. Ken Czubay, 64, will be replaced by John Felice, who will be vice president of U.S. marketing, sales and service. The company also named Barb Samardzich as chief operating officer at Ford of Europe.

Renault Chief: No. 2 Left Because His Eye Wandered

September 10, 2013 10:55 am | News | Comments

In an interview last month, chief operating officer Carlos Tavares told Bloomberg that he doubted he'd ever become head of Renault because Ghosn is still relatively young. He said he would like to be chief executive somewhere, and he thought his best chance was at a U.S. automaker.

Mulally: No Plans To Leave Ford Early

September 6, 2013 1:36 pm | News | Comments

The chief executive of Ford Motor Co. says he has no plans to leave the company early after reports that he might be tipped to take a leading role at software maker Microsoft Corp. Ford said last year that Alan Mulally would stay with the company through at least 2014.

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UTC Announces Pratt & Whitney Leadership Changes

September 4, 2013 11:34 am | Boeing, Pratt & Whitney, United Technologies Corp. | News | Comments

United Technologies Corp. has announced that David Hess is retiring as president of its Pratt & Whitney subsidiary, to be succeeded by Chief Operating Officer Paul Adams.The 58-year-old Hess is retiring Jan. 1 after 34 years with UTC.     

Renault Wants To Eliminate COO Position

September 3, 2013 7:35 am | News | Comments

In a statement Tuesday, Renault said it would instead add two new posts: chief competitive officer, who would be in charge of the product range, and chief performance officer, who would focus on market share and profitability. Employee representatives will review the plan next week.

Gary, Ind. Fights To Avoid Detroit’s Fate

August 28, 2013 9:56 am | by NBC News | Videos | Comments

The mayor of a rust belt small town is literally getting her hands dirty in hopes of revitalizing Gary, Ind. Once a major steel center, the city's population has dropped by half, and some of its neighborhoods are riddle with crime. Karen Freeman-Wilson, the city's current mayor, has a positive outlook on the future of her city.

Microsoft: CEO Ballmer To Retire

August 23, 2013 11:28 am | by Barbara Ortutay and Bree Fowler, Associated Press | News | Comments

Microsoft CEO Steve Ballmer, who took over the helm of the world's largest software company from founder Bill Gates, will retire within the next year. Microsoft Corp. did not name a successor, but said the company is forming a search committee, which will include Gates. Ballmer will stay on until a replacement is found.

CAT: 3 VPs To Retire

August 21, 2013 8:01 am | News | Comments

Caterpillar Inc., which makes construction and mining equipment, said Tuesday that three of its long-time vice presidents have decided to retire in February.Steve Fisher, 58, and vice president of the large power systems and growth markets division, is retiring after 35 years with the company.

Vestas Appoints New CEO Amid Mounting Losses

August 21, 2013 4:24 am | News | Comments

Denmark's troubled wind turbine producer Vestas has appointed Anders Runevad as its new CEO as the company looks to deal with mounting losses.Runevad, who comes from the Swedish telecommunication company Ericsson, will take over on Sept. 1.    

BAE Systems Says CEO Of U.S. Unit Will Retire

August 20, 2013 1:43 pm | BAE Systems | News | Comments

Defense contractor BAE Systems PLC said Tuesday that the CEO and president of its U.S. subsidiary will retire next year. Linda Hudson, who has led the U.S. unit since 2009, will remain at her post through the first quarter of 2014.      

GM Hires Delphi Exec To Run Powertrain Business

August 20, 2013 8:32 am | News | Comments

Steve Kiefer, who heads Delphi Corp.'s Powertrain Systems, will join the auto giant on Sept. 1. In addition to leading GM's powertrain business, he also will oversee engine development. Jim Lanzon will remain as vice president of global transmissions.  

Former Exec Gets Prison For $185M Stock Swindle

August 19, 2013 8:20 am | by Frank Eltman, Associated Press | News | Comments

The founder of America's leading supplier of body armor to the U.S. military was sentenced Thursday to 17 years in prison for running a $185 million stock swindle in which he used the proceeds to finance luxuries such as lavish parties featuring Tom Petty, Aerosmith and the Eagles.

BlackBerry CEO Could Get Almost $55.6M

August 19, 2013 7:59 am | News | Comments

Heins would receive $48 million in equity awards, based on the company's share price at the end of its latest fiscal year, according to a regulatory filing earlier this year. He would also get $7.5 million in compensation for his salary and bonus under the change of control provisions in his contract.

Motorola Solutions Says CFO Fitzpatrick Is Leaving

August 15, 2013 9:35 am | News | Comments

Communications equipment maker Motorola Solutions Inc. said Wednesday that Chief Financial Officer Ed Fitzpatrick is leaving the company. Motorola said Gino Bonanotte, 48, will be its acting CFO while the company looks for a permanent replacement. He was in charge of financial operations for Motorola's sales and product-operations organizations.

Rockwell Collins Ortberg Takes On CEO Position

August 1, 2013 12:49 pm | News | Comments

The aviation and military electronics maker announced last month that Ortberg, who will hold is previous position as company president, would succeed Clay Jones. The 64-year-old Jones has spent nearly 34 years at Rockwell Collins. He will continue as non-executive chairman.

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