Tower Automotive CFO Ernie Thomas Quits
GRAND RAPIDS, Mich. (AP) _ Tower Automotive Inc.’s chief financial officer has resigned, the company said Wednesday, just a few weeks after a new chief executive took the reins at the auto-parts company.
In a press release, Tower Automotive said Ernie Thomas resigned effective immediately. He had served in that position since November.
Tower said it was ``simply a personal decision″ on Thomas’ part and didn’t comment further.
The Grand Rapids-based company has launched a search for Thomas’ replacement.
It announced on July 29 that Kathy Ligocki, a longtime Ford Motor Co. executive, would take over as Tower’s president and chief executive from Dugald Campbell, who will retire as planned.
Ligocki was a vice president at the customer service division of Ford, Tower’s biggest customer.
New York Stock Exchange-listed Tower shares were down 23 cents, or 5.4 percent, at $3.81 in midday trading Wednesday.