When Chip McClure joined Meritor Inc., in 2004, he quickly put the company on a new path to ensure its long-term growth and success.Considering the company’s historical position in the commercial vehicle market, McClure, chairman of the board, president and CEO, led the development of a plan called the “3R” strategy. That stands for rationalize, refocus and regenerate, which included divestitures, acquisitions, product innovations, international expansion and technical advancements. He refocused the company, which designs, develops and manufactures integrated systems, modules and components for original equipment manufacturers and the aftermarket for the commercial vehicle, transportation and industrial sectors, to become a world-class global supplier. McClure believes it’s the duty of the CEO to provide a culture in which diversity of thought encourages successful innovation so people feel good about being part of the company and contributing to its success.
So when the recession hit and automotive sales began to decline signi?cantly, McClure modi?ed his plan, and the company sold its automotive business in chunks. Borrowing from his earlier training as a leader in the U.S. Navy, he also reduced payroll, downsized operations and simpli?ed performance metrics to steady the ship on unsettled waters. His quick foresight and action enabled the company to grow and produce strong ?scal results in 2010 and 2011, with 2012 looking to be another great year.
In addition to leading his company in producing successful results, McClure also leads an employee volunteerism effort named “Power of Volunteering.” He has set a goal of 40,000 volunteer hours annually from Meritor’s employees. Additionally, he formed a women’s business resource group to advance women in management. His dedication to community has become a focal point in engaging employee involvement and differentiating Meritor from its competitors.
HOW TO REACH Meritor Inc., www.meritor.com