Meritor Automotive Holds its Annual Shareowners Meeting
9 February 2000
Meritor Automotive Holds its Annual Shareowners MeetingTROY, Mich., Feb. 9 -- Meritor Automotive, Inc. today held its annual shareowners meeting, following the completion of its second year as an independent company. The meeting was held at the Meritor World Headquarters in Troy, Michigan. At the meeting, shareowners voted to elect Joseph B. Anderson, Jr., Donald R. Beall, Rhonda L. Brooks and John J. Creedon to the Board of Directors. Mr. Anderson, Mr. Beall and Ms. Brooks were elected for terms expiring in 2003, and Mr. Creedon was elected for a term expiring in 2001. The shareowners also approved the selection of Deloitte & Touche LLP as the company's auditors. Meritor Chairman and Chief Executive Officer, Larry D. Yost, provided an overview of the company's financial performance, perspective on the global automotive environment, and the status of the company's global growth initiatives. Yost said, "We're well on our way to achieving our vision of becoming the best integrated systems and technology solutions provider in the transportation industry. Our entire team is firmly committed to achieving all of our business strategies, with a focus on increasing shareowner value." Meritor, with 1999 sales of $4.5 billion, is a global supplier of a broad range of components and systems for commercial, specialty and light vehicle OEMs and the aftermarket. Meritor consists of two businesses: Heavy Vehicle Systems, a leading supplier of drivetrain systems and components for medium- and heavy-duty trucks, trailers and off-highway equipment and specialty vehicles, including military, bus and coach, and fire and rescue; and Light Vehicle Systems, a major supplier of roof, door, automotive body, access control and suspension systems and wheel products for passenger cars, light trucks and sport utility vehicles.