Collins & Aikman's CEO Resigns

Law360, New York (February 1, 2007, 12:00 AM EST) -- The president and CEO of Collins & Aikman Corp. has stepped down to make way for fresh leadership as the company attempts to sell its operations and exit Chapter 11 protection.

The bankrupt auto parts maker announced Wednesday that its board of directors had accepted the resignation of Frank Macher after thorough deliberations.

The Bankruptcy Court in Detroit, Michigan last week approved Collins & Aikman's disclosure statement, giving the company the green light to auction off its remaining assets and emerge from bankruptcy.

In a statement...
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