Chassix Chairman Newsted Dies

Richard Newsted, chairman of Southfield, Mich.-based supplier Chassix Holdings Inc., died last Thursday in Las Vegas at age 58, Automotive News reports. Details were not released.

Newsted, who lived in Liberty Township, Ohio, formerly was president and CEO of privately held Meridian Automotive Systems Inc., an Allen Park, Mich.-based supplier of vehicle front and rear modules and interior systems.

Chassix filed for Chapter 11 bankruptcy protection in March and emerged in July. That’s when Newsted joined the company’s new five-member board. Chassis is wholly owned by Platinum Equity LLC, an investment firm owned by Tom Gores, owner of the Detroit Pistons basketball team.