Accuride Corp. announced that John R. Murphy tendered his resignation as president and chief executive officer, and as a director of Accuride. Upon acceptance of Murphy’s resignation, Accuride’s Board of Directors appointed William (Bill) M. Lasky as interim president and chief executive officer.
Lasky has been an independent director of Accuride since October 2007 and will continue to serve as a director during his employment as interim president and chief executive officer.
“Given Bill’s experience from his previous executive assignments at JLG, Dana and Stoneridge, in conjunction with his work as an Accuride board member, we are confident that he will drive initiatives to improve Accuride’s financial performance while maintaining uninterrupted customer service,” said Terrence J. Keating, chairman of the board of Accuride.
Lasky commented, “I appreciate the confidence of the other board members in my abilities. Working with all of Accuride’s employees, I plan to have an immediate impact on the company’s direction, and will work with the board to bring permanent leadership to the company to continue these efforts.”
Today, Accuride also announced a series of strategic restructuring initiatives to reduce expenses, increase competitiveness, strengthen customer relationships and enhance shareholder value.
As a result of the restructuring initiatives, Accuride will eliminate a total of 392 positions, or 11 percent, of its total workforce: 159 salaried positions, or 18 percent of current level and 233 hourly employees, or nine percent of current level.
Accuride confirmed its commitment to the aftermarket today by announcing the creation of a dedicated Aftermarket Division to strengthen its services and offerings to its customer base.
