Collins & Aikman Corp Names Thomas E. Evans Chairman and CEO
22 April 1999
Collins & Aikman Corporation Names Thomas E. Evans Chairman and Chief Executive OfficerCHARLOTTE, N.C., April 22 -- Collins & Aikman Corporation announced today that its Board of Directors has elected Thomas E. Evans, formerly president of Tenneco Automotive, as the new Chief Executive Officer of the Company. Evans will replace Thomas E. Hannah, 60 years old, who has announced his retirement after serving with Collins & Aikman for 10 years, the last five years as Chief Executive Officer. Evans was also named a director and Chairman of the Board of Collins & Aikman Corporation. As Chairman, he succeeds David Stockman, Senior Managing Director of The Blackstone Group and Bruce Barnes, Managing Director of Wasserstein Perella & Co., who previously served as Co-Chairmen of Collins & Aikman Corporation. Evans will also serve as President of Collins & Aikman Products Co., the corporation's principal operating unit. Stockman and Barnes explained that Evans, 48 years old, "is extremely well-qualified to assume the leadership role at Collins & Aikman. Under his stewardship, Tenneco Automotive has doubled its original equipment business globally over the past four years and successfully executed a comprehensive worldwide restructuring program. This experience base, coupled with his extensive background in product development, manufacturing and international operations management, makes Mr. Evans the ideal executive to lead Collins & Aikman forward into the global automotive interior trim systems market." Prior to his tenure with Tenneco Automotive, Evans held several senior management positions at Case Corporation, another Tenneco subsidiary, where he played a key role in Case's highly successful financial turnaround, worldwide restructuring program and eventual public offering in 1994. Prior to joining Tenneco in 1989, Evans spent 16 years in the global automotive business with Rockwell International's automotive operations and Federal Mogul Corporation. Evans commented, "The reorganization plans that Collins & Aikman announced earlier this year are an excellent starting point that will enable the Company to capitalize on its leading positions in the global automotive interior trim business." As previously announced, Collins & Aikman has created two new operational divisions by integrating their global automotive carpet, acoustics, plastics and accessory floor mat businesses: North America Automotive Interior Systems, headquartered in Detroit, and Europe Automotive Interior Systems, headquartered in Germany. These two operating units function synergistically with Collins & Aikman's Specialty Automotive Products Division, which includes the Company's automotive fabrics and convertible top systems businesses. Evans noted, "these recently announced organizational moves clearly indicate that Collins & Aikman understands the necessity to provide a highly focused commercial relationship for today's automotive OEM's, both domestically and internationally. Additionally, the associated business unit restructurings worldwide should achieve significant reductions in structural overhead and enhance overall operational productivity." Collins & Aikman Corporation is among the world's leading suppliers of automotive interior trim components and systems, including textile, plastic, molded rubber and acoustic products. Serving major OEM's worldwide, the Company has over 15,000 employees and operates 65 facilities in 12 countries, with annual revenues approaching $2.0 billion.