Top North American Head Rolls at Visteon

NEW YORK, April 20, 2005; Reuters reported that auto supplier Visteon Corp. on Wednesday terminated "at-will" the employment of James Orchard, president of the company's North America operations, effective May 1.

Visteon, which last month came to a deal with former parent Ford Motor Co. to aid the company which has been struggling since it was spun off, said in a regulatory filing that the termination entitles Orchard to certain severance benefits, including a cash payment equal to $635,000.

A company spokeswoman said Orchard joined in 2001. The "at-will" termination comes after Mike Johnston, formerly president and chief operating officer, was named chief executive and president last year.

Visteon, the second largest auto parts maker in the United States, last year said it would need to cut costs further to reverse steep losses. Many auto suppliers have been mired with financial headaches as U.S. carmakers struggle with slowing sales.