Borg-Warner CEO Leaves Job
CHICAGO (AP) _ Borg-Warner Corp. says its chairman, James F. Bere, would be replacing Clarence E. Johnson as chief executive officer.
Bere had served as chief executive from 1972 to April 1986, when Johnson took over the post.
Borg-Warner spokeswoman Patricia A. Yoxall said Wednesday, ″It was simply a board decision that Mr. Bere’s experience and depth would help Borg-Warner shift from a public to a private company.″
Yoxall said that Johnson would remain with the company as president during the transition. Borg-Warner is in the process of being acquired by an investment group formed by Merrill Lynch & Co. Inc.
In a statement, the board said it has ″nothing but admiration for Mr. Johnson’s adept handling of the corporation during a difficult and demanding time.″
Borg-Warner operations include automotive components, chemicals, plastics and protective services.