Collins & Aikman Hires Execs

Frank Macher and Stephen Cooper sign on to oversee a turnaround at the auto-parts maker.
Author:
Publish date:

Collins & Aikman

(CKCRQ)

named Stephen Cooper chairman and Frank Macher CEO.

The Troy, Mich., auto-parts maker is trying to turn its fortunes around following a mid-May bankruptcy filing. On Thursday, Charles Becker quit as acting CEO and Marshall Cohen stepped down as interim chairman, though he'll stay on as lead director.

The news comes just a week after a U.S. Bankruptcy Court cleared up to $30 million in bridge financing for short-term needs. Collins & Aikman continues to seek added financing.

Cooper is best known as the turnaround CEO who headed up Enron after its 2002 demise. He was also recently appointed interim chief at struggling

Krispy Kreme

(KKD)

.

Macher, meanwhile, joins Collins & Aikman after turning down an offer to head up the

Ford

(F) - Get Report

offshoot that's absorbing the manufacturing operations of struggling auto-parts giant

Visteon

(VC) - Get Report

. Ford announced in May that Macher would lead the operation, but in June it named Al Ver to run the business instead, after it couldn't reach employment terms with Macher.