Lear restructures business groups
Having achieved a 5% increase in 2007 sales at its core businesses as a result of restructuring, American supplier of automotive seating, electrical distribution systems and electronic products Lear Corporation has now established a new global operating structure for its two business groups, Global Seating Systems and Global Electrical and Electronic Systems.
As a result of the move the company has also named Louis Salvatore as president, Global Seating Systems, and has named Raymond Scott as president, Global Electrical and Electronic Systems, effective immediately.
Before taking up this new role Mr Salvatore was senior vice president and president of Lear's Asian Operations and Asian Customer Group, a position he had held since August 2005. He began his career with Lear in 1996 as vice president of Global Purchasing and has held various positions at the company 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.
"Over the past two years, we have made significant progress in streamlining our organisation, restructuring our operations and increasing our focus on our seating and electrical and electronic businesses to improve our long-term competitiveness," said Bob Rossiter, president and chief executive. "The next step to further strengthen and grow our company is to establish global organisations for these core businesses.” He added: "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."
