Lear Corporation Announces Resignation of Board Member
11 November 1999
Lear Corporation Announces Resignation of Board MemberSOUTHFIELD, Mich., Nov. 11 -- Lear Corporation today announced that Gian Andrea Botta has resigned as a member of the Lear Board of Directors. Mr. Botta has served on Lear's Board since 1993. Mr. Botta's guidance has been instrumental in the company's rapid growth and global expansion, helping to position Lear as one of the world's largest independent automotive suppliers. Mr. Botta's resignation follows his recent appointment as a Managing Director for Morgan Stanley Dean Witter. In announcing Mr. Botta's resignation, Lear Chairman and CEO Kenneth L. Way said: "Andrea's significant contributions pre-date Lear's initial public offering in 1994. He has been a major supporter of our corporate strategy designed to grow our current business and transform Lear from a seating manufacturer to a supplier of complete interior systems with the added capability to integrate and link those systems together with a sophisticated electronic and electrical 'neural network.' His input and vision have been valuable and will be missed." Lear Corporation, a Fortune 200 company headquartered in Southfield, Michigan (USA), is one of the world's largest automotive suppliers, with 1999 anticipated sales of more than $12 billion. The company's world-class products are designed, engineered and manufactured by more than 100,000 employees in over 300 facilities located in 33 countries. Information about Lear and its products is available on the Internet at http://www.lear.com . This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the anticipated results as a result of certain risks and uncertainties, including but not limited to general economic conditions in the markets in which Lear operates, fluctuations in the production of vehicles for which the Company is a supplier, labor disputes involving the Company or its significant customers, risks associated with conducting business in foreign countries and other risks detailed from time to time in the Company's Securities and Exchange Commission filings.