(Reuters) - Auto parts supplier Federal-Mogul Corp said Chief Executive Jose Maria Alapont will retire on March 31.
Federal-Mogul said Rainer Jueckstock, who is currently the senior vice president of its Powertrain Energy business unit, has been promoted to be the new CEO.
The company, majority-owned by billionaire investor Carl Icahn, said Alapont would remain with it in a consulting role to assist with the transition.
The Southfield, Michigan-based company also said it is modifying its corporate structure to create a separate and independent aftermarket division.
Shares of the company closed at $17.01 on Friday on the Nasdaq.
(Reporting by Megha Mandavia in Bangalore; Editing by Gopakumar Warrier)