The Financial Post reports in its Tuesday, April 1, edition that Canadian auto parts manufacturer Martinrea International ($9.97) is looking for a new president and chief executive officer to replace Nick Orlando, who will remain in the position for now. A Canadian Press dispatch to the Post reports that the announcement came as Martinrea posted financial results for 2013, including a $51.4-million net loss or 60 cents per diluted share for the three months ended Dec. 31. The quarter's loss included a $29.9-million writedown of the assets of an operation in Hopkinsville, Ky., $10.5-million in external costs related to the plant and a $23.3-million writedown of a tax asset. After excluding those items, Martinrea had $14-million of adjusted earnings, or 17 cents per diluted share -- four cents below the general estimate compiled by Thomson Reuters. Mr. Orlando, who has been Martinrea's CEO since March, 2011, acknowledged that the fourth quarter was "a disappointment from a financial point of view." However, he also said many of Martinrea's divisions had good results and noted that some of its costs had been driven up as it prepares to do new work for automakers such as Chrysler, Nissan and General Motors.