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July 22, 2004 7:55 AM, EDT

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ehicle parts maker ArvinMeritor Inc. said Thursday it named Charles "Chip" McClure as its new chairman, chief executive officer and president effective Aug. 9.

He would succeed Larry Yost as chairman, who is retiring from the company, ArvinMeritor said in a statement.

In January, Terry O'Rourke, president and chief operating officer, resigned from the company.

The company said McClure has more than 25 years of automotive industry experience and was most recently president and CEO of Federal-Mogul.

He also has been president of Detroit Diesel Corp.

In its fiscal second quarter, ArvinMeritor's net income rose to $41 million or 59 cents per share, from $24 million or 36 cents per share in the same quarter last year.

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