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First Brands Appoints New CEO Amid Chapter 11 Crisis

10/13/2025

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Summary

Story summary

First Brands Group appointed Charles Moore as interim CEO after founder Patrick James resigns amid Chapter 11 proceedings.
The Ohio-based auto parts supplier disclosed about $11.6 billion in liabilities and faces a U.S. Justice Department (DOJ) investigation for financial irregularities.
Charles Moore, formerly Chief Restructuring Officer, will oversee stabilization and a court-supervised sale.
The company has secured $1.1 billion in debtor-in-possession financing to maintain operations.

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Story summary

First Brands Group appointed Charles Moore as interim CEO after founder Patrick James resigns amid Chapter 11 proceedings.
The Ohio-based auto parts supplier disclosed about $11.6 billion in liabilities and faces a U.S. Justice Department (DOJ) investigation for financial irregularities.
Charles Moore, formerly Chief Restructuring Officer, will oversee stabilization and a court-supervised sale.
The company has secured $1.1 billion in debtor-in-possession financing to maintain operations.