Trump administration authorizes CIA for covert action in Venezuela - Bloomberg
Investing.com -- First Brands Group, a global supplier of aftermarket automotive parts, has appointed Charles Moore as Interim Chief Executive Officer, replacing founder Patrick James who has resigned from the company.
Moore has been serving as First Brands’ Chief Restructuring Officer since September 2025 and brings over 30 years of leadership experience in restructuring and performance improvement across the automotive supply chain.
The leadership change comes as First Brands continues its chapter 11 bankruptcy proceedings in the United States Bankruptcy Court for the Southern District of Texas. The company collapsed into bankruptcy at the end of September after lenders became increasingly concerned about off-balance-sheet financing that the company was using to manage its day-to-day cash flow.
In his new role, Moore will work with First Brands’ management team and advisors to oversee operational stabilization initiatives and facilitate a court-supervised sale process. Meanwhile, the Special Committee of the Board of Directors will investigate the prepetition use of off-balance sheet financing arrangements.
"First Brands has a strong foundation of globally recognized brands and a resilient position in the aftermarket automotive industry," Moore said. "Our immediate priority is to ensure stability and dependability for our employees, customers, and partners."
The bankruptcy has drawn attention from federal prosecutors, who are looking into the circumstances surrounding the collapse of the auto-parts supplier, according to Bloomberg. The situation has also ensnared major financial firms including Jefferies.
First Brands has secured $1.1 billion in debtor-in-possession financing to provide capital for maintaining operations, fulfilling customer orders, and meeting commitments to vendors and partners during the bankruptcy process.
Moore is a Managing Director at Alvarez and Marsal with extensive experience in operational turnarounds and financial restructuring across the automotive and industrial sectors. He has advised more than 75 automotive suppliers and previously held leadership roles at Conway MacKenzie and Horizon Technology Group.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.