Auto parts supplier Delphi has announced the establishment of a new “board of managers,” following the company’s emergence from bankruptcy in October—four years after its historic filing. (It was the largest such filing for the industry at the time and the 13th largest in U.S. history with $17.1 billion in assets).

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...