Wheel end maker Accuride Corp. has shifted some of its executives around as it tries to recover from falling sales. Larry Taylor is taking over as the company's senior vp of sales and marketing, with Robert Nida serving as vp of technology and continuous improvement.
Taylor previously served as Accuride's vp of sales and marketing for its heavy vehicle business. He is now also responsible for the company's light vehicle sales and marketing efforts.
The moves come as Evansville, IN-based Accuride tries to regroup after revenues dropped 14.4% in the first quarter. Revenues fell to $77.8 million, down from $90.9 million in the first quarter last year.
The decrease is largely due to the continuation of the cyclical downturn of the heavy/medium commercial vehicle market, with Accuride's orders down more than 22%, said president & CEO Terry Keating.
"Although industry builds remain soft, we continue to drive margin improvement in all operating units," Keating said. "We are heartened by the recent strength in Class 8 net orders, which along with our focus on continuous improvement, should provide positive earnings momentum in the upcoming quarters."