Joe Day, brought into bankrupt automotive supplier Venture Holdings LLC to reshape the firm less than three months ago, no longer is overseeing day-to-day operations.
Executives for the Fraser injection molder said the firm made ``faster than expected'' improvements under Day, and that due to personal reasons, he instead would take on a nonexecutive role.
Day, the former head of Freudenberg-NOK GB of Plymouth, Mich., took the post of chief executive officer at Venture when it filed for Chapter 11 reorganization in March.
Day now is chairman of the executive and restructuring committees of the board.
A new executive team is overseeing day-to-day actions, headed by turnaround consultant Donald MacKenzie of Birmingham, Mich.-based Conway, MacKenzie & Dunleavy.
MacKenzie is Venture's chief restructuring officer.