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US: Dura Automotive CEO to step down

By Graeme Roberts | 2 November 2012

Dura Automotive Systems CEO Jeff Stafeil has decided to leave the company following a successful turnaround and reorganisation of the business. Lynn Tilton, founder and CEO of Patriarch Partners, Dura's parent company, will be interim CEO until a successor is named.

"Jeff joined Dura during a critical period on our journey to revitalise the business," said Tilton. "Through his dedicated leadership he directed an extensive reengineering of the company. Today Dura has an exceptional balance sheet, a low-cost manufacturing footprint and a portfolio of leading product technologies."

"The Dura team has executed a remarkable turnaround and the company is now among the world's top performing automotive suppliers," said Stafeil. "While the decision to leave the company was difficult to make, the past four years have been the most satisfying of my career."