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TheStreet Open House

Federal-Mogul's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Rainer Jueckstock



Yes, good morning. Thanks David. Good morning to everybody on the phone. As I am just since three weeks CEO of this company I will use this first call to introduce myself. I am born and raised in Germany and since 10 years I am living here with my family in the US and so it means some also of this US (inaudible). I am graduated college engineer and since two years I am with Federal-Mogul. I grew in Federal-Mogul in various function regions and product lines. I have been an application engineering, in commercial sales; I was as a crew controller for a few years. I was running a plant and since early 2005, I was running Federal-Mogul's powertrains and energy division. During this time I gained experienced running and developing operations and units in Europe, North America, in some big countries and I have been leading and participating in setting up new operations, joint ventures and acquisitions in India, Sweden, China, Russia, Turkey, Korea and virtually in every countries where Federal-Mogul is operating and has been. I know most of the OE product lines and units in Federal-Mogul and for many years, Federal-Mogul's aftermarket was one of my largest customer, but since a few weeks I am also intensively in (inaudible) in softer markets.

I took over a company with a proven (inaudible) especially on leading technology and so equipment OE portfolio. We continue to invest in technology and just yesterday evening, one of our proposals that final year awarded this award technology watch here into US. On the aftermarket, I think this company has a great set of premium plans and we provide exceptional service to our aftermarket customers around the world. And we do have on those OE and aftermarket a highly diversified customer base with strong regional presence in virtually all segments so it's likely (inaudible) or industrial applications. So we are well placed in growth and mature markets.

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