Delphi elects Martin E. Welch to board of directors

By Caroline Salls

Pittsburgh, Sept. 20 - Delphi Corp. elected Martin E. Welch to its board of directors, effective Wednesday, to fill the vacancy created by the departure of Bernd Gottschalk, according to a company news release.

Welch is an executive vice president and chief financial officer of United Rentals Inc., and he will serve on Delphi's audit committee.

Before becoming CFO of United Rentals in 2005, Welch served as director and business adviser to private equity firm York Management Services.

From 1995 to 2001, Welch served as CFO for Kmart Corp.., where he was instrumental in restructuring the company's balance sheet and strengthening its financial operations, the release said.

Welch also served as CFO for Federal-Mogul Corp. from 1991 to 1995 and held various finance positions at Chrysler Corp. from 1982 to 1991, including CFO for Chrysler Canada.

Welch began his career at Arthur Young (now Ernst & Young) in 1970.

Welch received a bachelor of science degree in accounting and a master of business administration degree in finance, both from the University of Detroit Mercy.

He is a certified public accountant and serves on the board of York portfolio company Northern Group Retail Ltd. and as a member of the board of trustees for the University of Detroit Mercy.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-44481.

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