Susan P. Kampe to Lead FleetWorks.com(TM), a New Internet-Based Parts and Service Exchange for the Trucking Industry
21 March 2000
Susan P. Kampe to Lead FleetWorks.com(TM), a New Internet-Based Parts and Service Exchange for the Trucking IndustryTROY, Mich., March 21 Meritor Automotive, Inc. Chairman and CEO Larry D. Yost names Susan P. Kampe to be chief executive officer of FleetWorks.com(TM), one of the first business-to-business (B2B) Internet-based service parts trading exchanges to serve the United States commercial medium- and heavy-duty truck aftermarket industry. FleetWorks.com will operate as an independent company, and will be located in Boston, Mass. Kampe has more than 18 years of experience in automotive information and systems technology. She joined Meritor in 1996 from Allied Signal Automotive, where she was director of Global Information Services and Systems. In 1997, Kampe was named Meritor's senior vice president and chief information officer. At Meritor, Kampe's efforts were focused on creating and implementing worldwide information technology strategies and developing computing infrastructures as a core strategic capability. She also succeeded in implementing the Y2K program, led Meritor's electronic commerce strategy development, and enhanced the business' ability to provide timely strategic information and analysis support. "Sue has been a dedicated champion of this initiative from the beginning," said Larry Yost, Meritor's chairman and chief executive officer. "I am confident that her expertise and leadership skills will help move this exciting new venture toward its virtually limitless potential." Kampe is a member of the Board of Visitors for Oakland University in Rochester, Mich., a Patron of the Detroit Institute of Arts, and holds a CPIM certification from the American Production and Inventory Control Society (APICS). She holds bachelor's degrees in production and operations management and in materials and procurement management, both from Bowling Green State University in Ohio. Kampe also holds a master's degree in business administration from Bowling Green. FleetWorks.com will function as a comprehensive open electronic marketplace for commercial truck aftermarket parts and services, and will be available to all industry participants. For the first time, buyers and sellers will be able to use one Internet service to seamlessly reach all of their parts and service providers at the click of a mouse. Moreover, OEMs, truck dealers, parts distributors and service providers will be able to electronically co-locate on one common site to reach existing and new customers simply and quickly. FleetWorks.com, which is expected to be online in late summer 2000, will have its own board of directors and management team. Meritor will hold the majority stake in this initiative, with Accel Partners and Gen3 Partners holding minority stakes. Boston was chosen as the company's headquarters in order to have greater access to the outstanding pool of Internet technology talent in that area. 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 complete 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. Meritor World Wide Web Site Address: http://www.meritorauto.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, including statements about future business operations, formation and terms of the joint venture, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties connected with negotiation and creation of a new joint venture and start-up of an Internet marketplace, acceptance by industry participants, competition, and those inherent in business forecasts. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including, but not limited to those summarized above and detailed from time to time in the company's Securities and Exchange Commission filings.