PEOPLE : Parker Automotive Names New President

Michael E. Parker will step down as president and chief operating officer of Parker Automotive Corp. in Costa Mesa. Orange County developer and banker Timothy L. Strader will take over daily operations of the company, a maker of a proprietary chemical cleaning system for internal combustion engine fuel systems.

Parker, the company’s founder and major shareholder, will remain chairman and chief executive. Strader, a former Koll Co. vice president, is president and co-founder of Legacy Cos., an Irvine builder of upscale homes and commercial properties, and is founding chairman of CommerceBank, a 13-year-old Newport Beach bank with about $230 million in assets.

Parker was recently sued for fraud by Columbia Savings & Loan. His dealings involving bankrupt Parker North American Corp. have prompted the scrutiny of federal authorities. Company officials said Strader’s appointment had nothing to do with Parker’s legal woes.