Delphi CFO Leaving Company

Auto parts maker says is chief financial officer, John Sheehan, plans to leave the company at the end of March to pursue other opportunities.

TROY, Mich. (AP) -- Delphi Automotive LLP says its chief financial officer plans to leave the company at the end of March to pursue other opportunities.

John Sheehan, 49, joined the auto parts maker in 2002 as chief accounting officer, and became CFO in October of 2008. He handled the company's finances during its four-year stay under bankruptcy protection. Delphi, the former parts-making operation of General Motors, emerged from Chapter 11 in October.

The company did not disclose the opportunity that Sheehan is pursuing. CEO Rodney O'Neal praised Sheehan for handling finances during the bankruptcy.

"John has been a tenacious and steadfast advocate for us with the financial community, assuring that we had adequate funding to operate and meet our commitments to our customers," O'Neal said in a statement.

Treasurer Keith Stipp was named acting CFO, and Delphi said it has started an outside search.

Delphi, which was spun off from GM in 1999, has more than 100,000 employees in 32 countries.

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