Motor Coach Industries has new CEO, CFO
Motor Coach Industries is under new leadership. A source familiar with the company says Rick Heller is MCI’s new CEO. Heller has held senior executive positions at Fortune 500 companies, including ConAgra and PepsiCo. Heller was most recently the Chief Executive Officer of Sleep innovations, Inc., where he led the transformation of that company into a profitable growing business.
Also, Fred Spivak has been named MCI’s new CFO. Spivak has extensive relevant experience, and was most recently the Chief Financial Officer of Lenox Group.
The company also announced it has invested $5 million in aftermarket service parts.
In September, KPS Capital Partners, LP (KPS), New York, NY, completed a controlling investment through an affiliate, in MCII Holdings, Inc., the parent company of Motor Coach Industries International, Inc. (MCI). The transaction is the result of a multi-stakeholder recapitalization of MCII Holdings, which KPS sponsored. Details of the transaction were not released.
MCI is the largest manufacturer of intercity highway coaches in North America. The company supplies motorcoaches to North American private sector coach operators, including charter and tour, line-haul and scheduled service vehicles, and to the largest North American transit agencies. For more, visit www.mcicoach.com.