Meridian Automotive names Newsted president and interim CEO

By Caroline Salls

Pittsburgh, Aug. 30 - Meridian Automotive Systems, Inc. named Richard E. Newsted president and interim chief executive officer, effective Oct. 1, according to a company news release.

Newsted replaces Thomas Divird, who has served as the company's interim CEO since March.

Divird will continue to serve on the board of directors, of which he has been a member since 2004.

Newsted joined Meridian in 2001 and has served as the company's president since April. Prior to that, Newsted served as Meridian's chief financial officer.

The company also reaffirmed it plans to distribute a long-range business plan to its creditors by Sept. 30, which will form a basis for Meridian's plan of reorganization to be filed at a later date.

Meridian is a Dearborn, Mich., supplier of front and rear end modules, lighting, exterior composites, console modules, instrument panels and other interior systems to automobile and truck manufacturers.

Meridian filed for bankruptcy on April 26 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 05-11168.

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