Visteon Names Richard J. Taggart and Donald J. Stebbins to Board of Directors
15 December 2006 - 11:30PM
PR Newswire (US)
VAN BUREN TOWNSHIP, Mich., Dec. 15 /PRNewswire-FirstCall/ --
Visteon Corporation (NYSE:VC) announced today that Richard J.
Taggart , executive vice president and chief financial officer for
Weyerhaeuser Co, and Donald J. Stebbins, Visteon president and
chief operating officer, have been elected to the company's board
of directors, effective Dec. 15, 2006. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) Taggart,
64, has spent nearly 30 years in positions of increasing
responsibility at Weyerhaeuser, North America's largest forest
products company with 2005 revenue of $22.6 billion. Taggart was
named to his current position at Weyerhaeuser in 2003 after serving
as vice president, finance; vice president and treasurer; and vice
president, investor relations. "Richard Taggart is an insightful
business leader with strong financial knowledge and background,"
said Michael F. Johnston, Visteon chairman and chief executive
officer. "He will bring a wealth of experience to serve our
shareholders well." Stebbins, 48, brings more than 20 years
business experience in a number of financial and operational roles.
He joined Visteon in 2005 from Lear Corp., where he last served as
president and chief operating officer of the company's operations
in Europe, Asia and Africa. During his tenure at Lear, Stebbins
progressed through a variety of senior leadership roles, including
serving as senior vice president and chief financial officer.
"Don's solid understanding of the business dynamics that Visteon
must address to succeed has led to significant improvements in our
operations," Johnston said. "He will add valuable perspective to
the board as we continue to execute our three-year plan to position
Visteon for sustainable success." Visteon also announced that Marla
C. Gottschalk will be stepping down from the board. Gottschalk,
chief executive officer of The Pampered Chef, Inc., has been a
Visteon director since March 2003. "Marla has been a valued member
of our board, and Visteon has benefited from her contributions,"
Johnston said. As Visteon's board of directors continues to
evaluate its composition, it expects to increase its size to
accommodate another addition to the board in 2007. Visteon
Corporation is a leading global automotive supplier that designs,
engineers and manufactures innovative climate, interior, electronic
and lighting products for vehicle manufacturers, and also provides
a range of products and services to aftermarket customers. With
corporate offices in Van Buren Township, Mich. (U.S.); Shanghai,
China; and Kerpen, Germany; the company has more than 170
facilities in 26 countries and employs about 46,000 people.
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE:
Visteon Corporation CONTACT: Media Inquiries: Kimberley Goode,
+1-734-710-5000, , or Investor Inquiries: Derek Fiebig,
+1-734-710-5800, , both of Visteon Corporation Web site:
http://www.visteon.com/
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