Lear Corp. Announces Executive Appointments as Part of Further Streamlining of Organization
SOUTHFIELD, Mich., Sept. 25 /PRNewswire-FirstCall/
-- Lear Corporation (NYSE: LEA) today announced a plan to consolidate
its North American Customer Group into three existing product groups
comprised of Seating, Electrical and Interior Systems to further
streamline the organization, best support the Company's product and
technology focus and improve operating efficiency as a result of
challenging conditions in the automotive market.
As a result of the consolidation, the following organizational
appointments, reporting to Lear President and Chief Operating Officer,
Douglas DelGrosso, are effective immediately:
* Jim Brackenbury, previously senior vice president and president -
North American Seating Systems, will assume responsibility as senior
vice president and president - European Operations. As a seasoned
senior executive with extensive operating experience in Europe,
Brackenbury will assume operating responsibility for the region and
relocate to Lear's Paris office.
* Ray Scott, previously senior vice president and president - North
American Customer Group, will assume responsibilities as senior vice
president and president - North American Seating Systems, with overall
responsibility for all seating-related activities in the United States,
Canada, and Mexico.
* Miguel Herrera-Lasso, senior vice president and president -
Electrical and Electronics Systems, will continue in his current role.
* Joe Zimmer, who was recently named senior vice president and president - Interior Systems, will continue in that role.
* Lou Salvatore, senior vice president and president - Asian Customer Group, will continue in his current role.
"As competitive conditions intensify and our North American customers
realign themselves to the changing market conditions, we need to
increase our focus on our customers' product needs and requirements,
create direct lines of communication internally and externally and
further drive accountability throughout our organization," said
DelGrosso. "We will transition the sales/customer contact interface to
the three product groups rapidly and smoothly to ensure we continue to
deliver top notch levels of service and support our customers expect and
Lear Corporation is one of the world's largest suppliers of
automotive interior systems and components. Lear provides complete seat
systems, electronic products and electrical distribution systems and
other interior products. With annual net sales of $17.1 billion in
2005, Lear ranks #127 among the Fortune 500. The Company's world-class
products are designed, engineered and manufactured by a diverse team of
115,000 employees at 282 locations in 34 countries. Lear's headquarters
are in Southfield, Michigan, and 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/ .
SOURCE: Lear Corporation
CONTACT: Investor Relations: Mel Stephens, +1-248-447-1624, Media:
Andrea Puchalsky, +1-248-447-1651, both of Lear Corporation
Web site: http://www.lear.com/
Company News On-Call: http://www.prnewswire.com/comp/518304.html
Posted on 9/25/2006