Lear Corporation Appoints Robert E. Rossiter Chief Executive Officer
11 May 2000
Lear Corporation Appoints Robert E. Rossiter Chief Executive Officer; Kenneth L. Way to Continue as Chairman LEAR CORPORATION Robert E. Rossiter President and Chief Operating Officer Lear Corporation. (PRNewsFoto) [AG ] SOUTHFIELD, MI USA 05/11/2000 LEAR CORPORATION Kenneth L. Way Chairman and Chief Executive OfficerLear Corporation. (PRNewsFoto)[AG] SOUTHFIELD, MI USA 05/11/2000SOUTHFIELD, Mich., May 11 The Lear Corporation Board of Directors has elected Robert E. Rossiter as Lear's Chief Executive Officer, effective October 1, 2000. Kenneth L. Way, Lear's current Chairman and Chief Executive Officer, will remain in his present capacity until October 1 and will continue as Chairman of the Board thereafter. (Photo: http://www.newscom.com/cgi-bin/prnh/20000511/DETH043-a http://www.newscom.com/cgi-bin/prnh/20000511/DETH043-b ) "I am very pleased with the appointment of Bob Rossiter to succeed me as CEO and look forward to continuing our excellent working relationship," said Way, age 60. "Since joining Lear in 1971, Bob has been instrumental in building our business. With his support, we have developed a strong and deep management team. Lear is well positioned to continue its history of profitable growth and I welcome the opportunity as Chairman to give full attention to building stronger relationships with Lear's business partners and expanding our strategic initiatives." "Ken Way has provided strong leadership to Lear since joining this company in 1966," said Rossiter, age 54. "He was appointed President of this business in 1980 when it was a $65 million division of Lear Siegler Inc. As CEO since 1988, Ken has presided over Lear's staggering growth from an $800 million seating company to a supplier of integrated automotive electronics and interiors with 1999 sales of $12.4 billion. I look forward to continuing to work with Ken and am extremely excited about the opportunity to build and grow Lear as its CEO." Rossiter, who has held his current position since 1988, will continue as President and Chief Operating Officer until October 1, 2000. Lear Corporation, a Fortune 150 company headquartered in Southfield, Mich., (USA), is one of the world's largest automotive suppliers, with 1999 sales of $12.4 billion. The company's world-class products are designed, engineered and manufactured by more than 120,000 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