Lear Announces Executive Promotions in Finance and Administration
SOUTHFIELD, Mich., Aug. 22 /PRNewswire-FirstCall/
-- Lear Corporation (NYSE: LEA), one of the world's largest automotive
interior systems suppliers, today announced the following executive
promotions in Finance and Administration:
Daniel A. Ninivaggi is promoted to Executive Vice President,
Secretary & General Counsel. In this new role, Dan will serve as
Chief Administrative Officer and have direct oversight responsibility
for the Company's strategic planning process, including Corporate
Development as well as Tax, Treasury, Risk Management and Investor
Relations. Dan will report to Robert E. Rossiter, Lear Chairman and
Chief Executive Officer.
Vice Chairman James H. Vandenberghe will continue as the Company's
Chief Financial Officer and directly oversee the functions of
Operational Finance, Human Resources, Corporate Communications and
Information Technology. Douglas G. DelGrosso, President and Chief
Operating Officer, will continue to oversee the Company's Global
Matthew J. Simoncini, Vice President of Global Finance, and the
Company's Chief Accounting Officer, is promoted to Senior Vice
President, Operational Finance. In addition to his previous
responsibilities, Matt will have an expanded role as part of Lear's
leadership team in further strengthening the Company's core operations.
Matt will continue to report to Jim Vandenberghe.
Eric Rasmussen, Vice President of Financial Planning and Analysis, is
promoted to Vice President of Corporate Development, where he will
manage the Company's worldwide corporate development and strategic
planning initiatives. Eric will report to Dan Ninivaggi.
"Given the very challenging and rapidly changing business environment
we face, it is imperative that we have a streamlined and efficient
organization structure in place to respond quickly and decisively," said
Rossiter. "I believe the changes we are announcing today will best
align our senior leaders and their respective teams to address the
operating, strategic and financial challenges we face."
Lear Corporation is one of the world's largest suppliers of
automotive interior systems and components. Lear provides complete
automotive seating systems, electronic products and electrical
distribution systems as well as interior trim components. 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 more than 110,000 employees 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 8/22/2006