Steve Miller takes reins as Federal-Mogul ousts Gormley

First Chrysler, then the Detroit Symphony Orchestra, then Idaho-based mega-contractor Morrison-Knudsen, now Federal-Mogul. Former Chrysler number cruncher Robert S. (Steve) Miller Jr. is stepping into the breach at Federal-Mogul Corp. after the board of directors gave the heave-ho to Chairman and CEO Dennis Gormley citing insufficient progress on the repositioning of the engine bearing and seal maker into a major retail force in the automotive aftermarket. Miller, who is on the Federal-Mogul board, will serve temporarily as CEO, and fellow board member Roderick Hills will serve as chairman until Mr. Gormley's successor is found. Despite a raging bull market, Federal-Mogul's stock has tumbled from about $35 two years ago to a range in the mid-to-upper teens in recent weeks.