Remy CEO cites change in company culture as reason for turnaround

12/18/2012 | WIBC-FM (Indianapolis)

Remy International was in bankruptcy five years ago, but now the Indiana-based maker of hybrid engine components is trading on the Nasdaq. CEO John Weber attributes the company's recovery to a growing demand for alternative-fuel and hybrid-powered vehicles, as well as a change in culture that included sacrifices such as pay cuts for all levels of employees. "We were able to say to people, 'If we make the right sacrifices, we can be proud of who we are five years from now or 10 years from now,' " said Weber, who is a member of MAPI's board of trustees.

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