By Patrick Raleigh, ERJ On-line news editor
Wichita, Kansas-Koch Industries Inc. will not replace Invista president, Steve McCracken, who has resigned from the company ahead of its sale to Koch, a company spokeswoman said.
Koch had previously named McCracken as president and chief operating officer of Invista, after its $4400-million acquisition, which is due for completion in the first half of 2004.
McCracken's responsibilities-minus the job titles-will pass to Jeff Walker, the Koch executive who has been appointed chief executive officer of Invista, said the Koch spokeswoman. â€œWe are not that big on job titles here,â€ she commented.
McCracken is also quitting DuPont but will stay on as a special adviser to facilitate the closure of the Invista sale, the spokeswoman added.
Meanwhile, Koch has appointed Gerold Linzbach-the current president of its KoSa subsidiary's fibres business- to become president, textile fibres of Invista.
Linzbach's remit will encompass Invista's staple, tyre cord, mechanical rubber goods and polyester textile filament businesses. He will be based in the Charlotte, North Carolina-area, Koch said.