Lear brings back former European finance boss as CFO
DETROIT -- Lear Corp. hired Jeffrey Vanneste as its finance chief five years after he left to work for the supplier's former interiors unit.
Vanneste will become senior vice president and CFO, effective March 15.
He most recently was executive vice president and CFO of International Automotive Components Group.
He joined IAC in 2007 when the company, owned by investor Wilbur Ross, acquired Lear's North American interiors division. Lear, which exited a four-month bankruptcy in late 2009, maintains a 23 percent stake in IAC.
Before joining IAC, Vanneste was vice president of finance for Lear's European operations.
Vanneste will replace interim CFO Jason Cardew. Lear was not immediately available for comment on whether Cardew will remain with the supplier.
IAC named Dennis Richardville, vice president of finance and global corporate controller, as interim CFO. The company said in a statement that it's conducting a search to replace Vanneste.
Lear, of Southfield, Mich., ranks No. 8 on the Automotive News list of the largest suppliers to North America, with sales of $4.1 billion in original equipment parts on the continent in 2010.