Delphi Elects Former Chase Manhattan Chairman to Board
15 July 1999
Delphi Elects Former Chase Manhattan Chairman to BoardTROY, Mich., July 15 -- Delphi Automotive Systems announced today Thomas G. Labrecque, 60, has been elected to the board of directors effective immediately. Delphi Chairman, Chief Executive Officer and President J.T. Battenberg III made the announcement. "Tom has a career track record rich with success in managing a global corporation," said Battenberg. "I believe our employees, customers and shareholders will be pleased with the value his keen business acumen will bring to the board." Labrecque is the former chairman of The Chase Manhattan Corporation. Since his June 1, 1999, retirement from Chase, he has been the chairman of Chase's International Advisory Council, a non-policy making body made up of business leaders, entrepreneurs and former government officials from around the world. His 35-year career at Chase began in 1964 when he joined the company as a member of the Special Development Program. He later served as treasurer, vice chairman and chief operating officer, and president and chief operating officer and, in 1990, chairman and chief executive officer of The Chase Manhattan Corporation and The Chase Manhattan Bank, N.A. Upon merger with Chemical Bank in 1996, Labrecque became president and chief operating officer of the company. Prior to joining Chase, Labrecque served in the U.S. Navy, leaving as a full lieutenant. He earned a bachelor's degree from Villanova University in 1960 and attended the Graduate School of Business at American University and the New York University Graduate School of Business Administration. He has received honorary doctorates from Villanova University, the University of Charleston, Drexel University and Marymount College. He is a member of the board of directors of Pfizer Inc. and the Hospital for Special Surgery. Labrecque is also a director of the International Rescue Committee and a member of the Council of Foreign Relations. A native of Long Branch, New Jersey, Labrecque is married and has four children. Labrecque joins Delphi Board members Battenberg; Oscar De Paula Bernardes Neto, chairman, Santista Alimentos and Seara Alimentos; Virgis Colbert, executive vice president, Miller Brewing Co.; Shoichiro Irimajiri, president of Japan's Sega Enterprises Ltd.; Susan McLaughlin, president of consumer services, BellSouth Telecommunications; John D. Opie, vice chairman, General Electric; Roger S. Penske, chairman, Penske Corp.; and Thomas H. Wyman, Delphi's lead director and former chairman, CBS. Delphi Automotive Systems, headquartered in Troy, Mich., USA, is a world leader in automotive components and systems technology. Delphi's three business sectors -- Dynamics & Propulsion; Safety, Thermal & Electrical Architecture; and Electronics & Mobile Communications -- provide comprehensive product solutions to complex customer needs. Delphi has approximately 199,000 employees and operates 168 wholly owned manufacturing sites, 38 joint ventures, 51 customer centers and sales offices, and 27 technical centers in 36 countries. Regional headquarters are located in Paris, Tokyo and Sao Paulo. Delphi can be found on the Internet at http://www.delphiauto.com .