ArvinMeritor Holds Its Annual Shareowners Meeting
TROY, Mich., Feb. 19 -- ArvinMeritor, Inc. today held its annual shareowners meeting at ArvinMeritor headquarters in Troy, Mich. At the meeting, shareowners voted to elect Joseph B. Anderson Jr., Victoria B. Jackson, James E. Marley and James E. Perrella to the board of directors for terms expiring in 2006. They also voted William D. George Jr. to the board of directors for a term expiring in 2005. In addition, the shareowners approved the selection of Deloitte & Touche LLP as the company's auditors. ArvinMeritor Chairman and Chief Executive Officer Larry Yost provided an overview of the company's financial performance in fiscal year 2002, as well as provided insight into the current economic condition and its impact on the automotive industry. President and Chief Operating Officer Terry O'Rourke provided the financial results from the first quarter of fiscal year 2003, as well as a discussion of the company's vision and strategies for future growth. ArvinMeritor, Inc. is a premier $7-billion global supplier of a broad range of integrated systems, modules and components to the motor vehicle industry. The company serves light vehicle, commercial truck, trailer and specialty original equipment manufacturers and related aftermarkets. In addition, ArvinMeritor is a leader in coil coating applications. The company is headquartered in Troy, Mich., and employs 32,000 people at more than 150 manufacturing facilities in 27 countries. ArvinMeritor common stock is traded on the New York Stock Exchange under the ticker symbol ARM. For more information, visit the company's Web site at: http://www.arvinmeritor.com . This news release contains statements relating to future results that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's Securities and Exchange Commission filings. Appendix: Joseph B. Anderson Jr. - Mr. Anderson, a director since July 2000 and a director of Meritor Automotive, Inc. from September 1997 until the merger of Arvin and Meritor into ArvinMeritor, is chairman of the Corporate Governance and Nominating Committee and a member of the Environmental and Social Responsibility Committee. He has served as chairman of the board and chief executive officer of Vibration Control Technologies, LLC since June 2002. He was chairman of the board and chief executive officer of Chivas Industries LLC (and its predecessor, Chivas Products, Ltd.) from October 1994 until June 2002. From December 1992 to July 1993, Mr. Anderson was president and chief executive officer of Composite Energy Management Systems, Inc. Mr. Anderson served in a variety of positions, primarily in manufacturing, with General Motors Corporation from 1979 until December 1992. He also served as an assistant to the U.S. Secretary of Commerce from 1977 to 1979. Mr. Anderson is a director of Quaker Chemical Corporation and R. R. Donnelley & Sons Co. and is a trustee of Kettering University. He is also a director, trustee or member of a number of business, educational and civic organizations. Mr. Anderson's term of office will expire in 2006. Victoria B. Jackson - Ms. Jackson, a director since July 2000 and a director of Meritor Automotive, Inc. from July 1999 until the merger of Arvin and Meritor into ArvinMeritor, is a member of the Audit Committee. She currently serves as president of Victoria Belle, Inc., a fine jewelry design and marketing firm. She was president and chief executive officer of DSS/Prodiesel, Inc. from 1979 until 1998, when the company was sold to TransCom USA. She served as a consultant to TransCom USA from 1998 to February 2000. Ms. Jackson is a director of AmSouth Bancorporation and PepsiAmericas, Inc. and is a member of various business, educational and civic organizations. Ms. Jackson's term of office will expire in 2006. James E. Marley - Mr. Marley, a director since July 2000 and a director of Meritor Automotive, Inc. from April 1999 until the merger of Arvin and Meritor into ArvinMeritor, is chairman of the Environmental and Social Responsibility Committee and a member of the Audit Committee. He is the retired chairman of the Board of AMP Inc., serving in that position from 1993 to 1998. He served AMP as president and chief operating officer from 1990 to 1992, as president from 1986 to 1990, and in a variety of engineering and executive positions from 1963, when he joined AMP, until 1986. He is also a director of Armstrong Holdings, Inc. and a number of business, educational and civic organizations, and is a member of a number of engineering and management professional associations. Mr. Marley's term of office will expire in 2006. James E. Perrella - Mr. Perrella, a director since July 2000 and a director of Arvin from 1999 until the merger of Arvin and Meritor into ArvinMeritor, is a member of the Corporate Governance and Nominating Committee and the Compensation and Management Development Committee. Mr. Perrella served as chairman of the board of Ingersoll-Rand Company from 1993 until his retirement in 2000. Between 1993 and October 1999, he also served as president and chief executive officer of Ingersoll-Rand. Mr. Perrella is also a director of Becton Dickinson and Company, Bombardier Inc. and Milacron Inc. Mr. Perrella's term of office will expire in 2006. William D. George Jr. - Mr. George, a director since July 2000 and a director of Arvin, Industries from 1994 until the merger of Arvin and Meritor into ArvinMeritor, is chairman of the Audit Committee and a member of the Environmental and Social Responsibility Committee. Since 1981, he served in a variety of positions with S.C. Johnson Wax, until he became executive vice president and chief operating officer, Worldwide Consumer Products from 1988 to 1990, and president, Worldwide Consumer Products from 1990 to 1993. Mr. George was elected president and chief executive officer of S.C. Johnson Wax in 1993, positions he held until retirement in 1997. He is also a director of Reilly Industries, Inc. and Nobex Corporation, and is a member of the board of trustees of Carthage College. Mr. George's term of office will expire in 2005.