The two longtime executives credited for saving Auburn Hills, Mich.-based Continental Structural Plastics Inc. from insolvency retired last week.
CEO Frank Macher and CFO Jon Smith both retired from the automotive composites supplier on April 1. Steve Rooney, formerly the company's president and COO, replaces Macher as CEO and Steve Wisniewski, controller, has been promoted to vice president of finance.
Macher, previously CEO of Collins & Aikman, Federal-Mogul Corp. and ITT Automotive, and Smith — joining the company in 2010 and 2011, respectively, were tasked by board to turn around CSP after the Great Recession decimated the U.S. automotive industry.
CSP was plagued by a lack of staff and rife with potential pitfalls from potential failure equipment to customer miscommunication, Smith told Plastics News last year.
"It was equally scary," he said. "I think it's one of those things that as long as you're shipping parts, for some folks that's OK, but unless you know the equipment is not going to fail, and you have backup if it does, how do you assure yourself there will no interruption of supply? We were way off the mark in that regard."