Lear Establishes Global Operating Structure for its Seating and Electrical and Electronic Businesses
SOUTHFIELD, Mich., Feb. 11 /PRNewswire-FirstCall/ -- Lear Corporation (NYSE:
LEA), a leading global supplier of automotive seating, electrical
distribution systems and electronic products announced today that it is
establishing a global operating structure for its two business groups.
Accordingly, Louis R. Salvatore has been appointed president, Global
Seating Systems, and Raymond E. Scott has been named president, Global
Electrical and Electronic Systems.
In their new roles, Salvatore and Scott will continue to report to
Lear Chairman, Chief Executive Officer and President, Bob Rossiter. The
appointments are effective immediately.
"Over the past two years, we have made significant progress in
streamlining our organization, restructuring our operations and
increasing our focus on our seating and electrical and electronic
businesses to improve our long-term competitiveness," said Rossiter.
"The next step to further strengthen and grow our Company is to
establish global organizations for these core businesses. This new
structure will best support the global strategies of our customers and
allow us to take full advantage of our global scale, leverage our
worldwide engineering and product development resources and access the
lowest possible manufacturing and sourcing available."
Rossiter continued: "Ray and Lou each have the global operating
experience, proven-track records of accomplishment and the outstanding
leadership qualities I believe are necessary to execute our strategy and
take our Company to the next level. I look forward to working with
them as we continue to implement initiatives to further grow and
diversify our sales, continue to improve our financial results and
deliver the best possible value to our customers and our shareholders."
Prior to his current position, Ray Scott, age 42, was senior vice
president and president of Lear's North American Seating Systems, a
position he has held since August of 2006. Since joining Lear in 1988,
he has held a series of increasingly responsible positions at Lear, both
in Europe and in the U.S., including president of Lear's North American
Customer Group; president of Lear's European Customer Focused Division;
president of the General Motors and Fiat Customer Focused Divisions;
vice president and general manager of Lear GM-Europe; and vice president
of Operations for Lear-Saab.
Scott earned a Bachelor of Science degree in economics from the
University of Michigan. He has also earned a master of business
administration degree from Michigan State University's Advanced
Most recently, Salvatore was senior vice president and president of
Lear's Asian Operations and Asian Customer Group, a position he has held
since August 2005. He began his career with Lear in 1996 as vice
president of Global Purchasing and has held various positions of
increasing responsibility including president of both Lear's
DaimlerChrysler and Ford business units as well as president of Lear's
North American Electrical/Electronic and Interior Divisions.
Before joining Lear, Salvatore, age 52, held a number of
manufacturing, finance, engineering and purchasing roles during a
14-year career with Ford Motor Company. Lou received a Bachelor of Arts
degree from Baldwin-Wallace College in Berea, Ohio and a master of
business administration degree from Michigan State University in East
Lansing, Mich. He also completed one year of post graduate work in
international business at Michigan State University.
Lear Corporation is one of the world's largest suppliers of
automotive seating systems, electrical distribution systems and
electronics products. The Company's world-class products are designed,
engineered and manufactured by a diverse team of 91,000 employees at 215
facilities in 34 countries. Lear's headquarters are in Southfield,
Michigan. Lear is traded on the New York Stock Exchange under the
symbol [LEA]. Further information about Lear is available on the
Internet at http://www.lear.com/
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SOURCE: Lear Corporation
CONTACT: Mel Stephens, Vice President of Communications of Lear
Web site: http://www.lear.com/
Company News On-Call: http://www.prnewswire.com/comp/518304.html
Posted on 2/11/2008