Troy, Michigan-Collins & Aikman Corp. is going through yet another leadership change, seeking a permanent replacement for David Stockman as chairman and ceo while it also tries to plug extensive financial holes.The Troy-based auto injection moulder announced 12 May that Stockman has resigned the top posts with C&A and also stepped down as a company director. Charles Becker has taken over as acting ceo while a trio of directors-Anthony Hardwick, Timothy Leuliette and Dan Tredwell-acts as a temporary steering committee while also spearheading a search for Stockman's full-time replacement.In addition, the company had to seek a waiver to its credit agreements in the wake of credit rating downgrades for customers Ford Motor Co. and General Motors Corp. which would have cost it $70 million.The company's fiscal woes also led to a conditional waiver of a financial covenant related to its first-quarter performance in its accounts receivable while warning investors and creditors about other potential issues going forward."
