Visteon Taps Longtime Auto Exec As New CEO

VAN BUREN TOWNSHIP, MI -- (WWJ) Long time auto executive Tim Leuliette has been named CEO of auto supplier Visteon. Leuliette, 62, has been holding that job on an interim basis since the resignation of former CEO Donald Stebbins.

"I look forward to leading the implementation of our recently announced strategic actions and I am committed to improving value for Visteon's shareholders and reorienting the company for the benefit of our global customers, joint venture partners and employees," said Leuliette.

INTERVIEW: WWJ AutoBeat Reporter Jeff Gilbert talks with Visteon CEO Tim Leuliette.

Leuliette is well known in automotive circles, and has been an outspoken advocate for change in the industry. When GM and Chrysler were looking for government help in 2008, Leuliette traveled to Washington to explain why the auto industry was important to the economy as a whole.

Until 2010, Leuliette was CEO of DURA Automotive. He's lead a number of other auto companies, including the former Metaldyne. He had also served as COO of Penske Corp, and was chairman of the Detroit Branch of the Federal Reserve Bank of Chicago.

Visteon has now separated the roles of CEO and Chairman of the Board. Francis Scricco, who joined the board on August 10th, has been named non-executive chairman.

Spun off from Fords auto parts operations, Visteon has gone through many changes, but has had trouble making money. Most recently the company went through bankruptcy, in an effort to cut costs, and reorganize as a company that specializes in climate control, interiors and electronics.

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