Visteon

Visteon’s Leuliette sees 'clarity' on revamping by end of 2013

2:40 pm U.S. ET | Oct. 4, 2012
Visteon will decide its strategy for each of its units by the end of 2013 and provide investors “clarity,” the company's permanent CEO Tim Leuliette says. Leuliette ascended to CEO after serving as interim chief following the ouster of Don Stebbins on Aug. 10.... Read More »

 

Visteon CFO Welch resigns

Oct. 4, 2012 06:01 CET
Supplier Visteon announced the resignation of Executive Vice President and CFO Martin Welch. Welch will be replaced on an interim basis by Michael Widgren, who has served as Visteon's vice president, corporate controller and chief accounting officer since May 2007.... Read More »

 

Visteon names Leuliette its permanent CEO

9:38 am U.S. ET | Oct. 1, 2012
Visteon, confirming weeks of speculation, today named Timothy Leuliette its permanent CEO and president. Leuliette, 62, will also be replaced as chairman of the supplier by current board member Francis Scricco, 63.... Read More »

 

Visteon exploring sale of interiors unit, but no rush, CEO says

9:52 am U.S. ET | Sept. 19, 2012
Visteon is in discussions to sell its interiors business, but "there's no gun to our head" to sell quickly, the U.S. auto parts supplier's top executive said on Wednesday.... Read More »

 

Visteon said to consider Leuliette as CEO while eyeing unit sale

Sept. 14, 2012 06:34 CET
Visteon is leaning toward naming interim Chief Executive Officer Tim Leuliette to the post permanently after ousting its CEO last month, people familiar with the plans said.... Read More »

 

DUSTIN WALSH

Mando still on the prowl for Visteon's stake of Halla

3:46 pm U.S. ET | Sept. 4, 2012
South Korean supplier Mando is maintaining its pursuit of Visteon's 70 percent stake in the Halla Climate Control joint venture. Mando said in a public filing Monday that it would establish a Chinese holding company listed on the Hong Kong Stock Exchange as an attempt to buy out Visteon's stake in Halla, according to a Reuters report out of Seoul.... Read More »

 

Visteon shares jump as South Korea's Mando may buy former affiliate

12:34 pm U.S. ET | Aug. 30, 2012
Visteon shares rose to the highest level in more than three months after Mando said it may bid for Visteon's 70 percent stake in Halla Climate Control, Mando's former affiliate.... Read More »

 

Visteon shares rise 5% as tax seen limited in Halla deal

3:47 pm U.S. ET | Aug. 23, 2012
Visteon, the auto-parts maker focusing on growing Asian operations, surged to its highest price in three months after a UBS Securities LLC analyst report said there would be a “limited” capital-gain tax impact from divesting its stake in South Korea's Halla Climate Control.... Read More »

 

NEWS ANALYSIS

Visteon's future murky after CEO's departure

2:26 pm U.S. ET | Aug. 21, 2012
Visteon, after 12 years of hemorrhaging cash, the construction of a major southeast Michigan headquarters, a debt-clearing bankruptcy and months of boardroom drama, is a business in flux after the ouster of CEO Don Stebbins. The destiny of Ford's spun-off parts unit seemed all too inevitable after activist board members spent more than a year demanding that a reluctant Stebbins unload the company's valuable Asian assets.... Read More »

 

NEWS ANALYSIS

Visteon looks primed for a deal

12:01 am U.S. ET | Aug. 20, 2012
Visteon Corp.'s transformation from a Ford parts supplier to most likely an Asian company took another twist last week. Visteon said Don Stebbins was out as CEO, replaced on an interim basis by former Dura Automotive CEO and current Visteon board member Tim Leuliette.... Read More »

 

Visteon completes sale of its lighting business to Varroc

Aug. 16, 2012 06:01 CET
Visteon says it has completed the sale of its automotive lighting unit to Varroc Group of India for $72 million.... Read More »

 

Visteon's Stebbins received $12.6 million separation deal

11:30 am U.S. ET | Aug. 14, 2012
Former Visteon CEO Don Stebbins walked away from the supplier on Friday with a separation package valued at more than $12.6 million. Visteon said Monday that Stebbins, who was CEO for the past four years, and the board reached a separation agreement, which was disclosed in a filing with U.S. securities regulators.... Read More »

 

Visteon completes sale of its lighting business to Varroc

12:01 am U.S. ET | Aug. 14, 2012
Visteon Corp. says it has completed the sale of its automotive lighting unit to Varroc Group for $72 million.... Read More »

 

DUSTIN WALSH

Visteon's boardroom tumult: Connecting all the dots

3:44 pm U.S. ET | Aug. 13, 2012
Late last year, I blogged about whether Visteon would jump the Pacific to Asia. Today, we still don't know for sure, but the pieces are falling into place.... Read More »

 

Visteon CEO Stebbins steps down; industry veteran Leuliette named interim chief

6:36 am U.S. ET | Aug. 13, 2012
Visteon CEO Don Stebbins has stepped down more than four years after he took the top job at the supplier. Industry veteran Tim Leuliette has been named interim CEO and chairman. Last fall, Leuliette was reportedly among independent board members pushing Stebbins to streamline the company. Visteon has posted losses in two of the last three quarters after exiting bankruptcy in 2010.... Read More »

 

Visteon CEO Stebbins steps down; industry veteran Leuliette named interim chief

Aug. 13, 2012 12:36 CET
Visteon CEO Don Stebbins has stepped down more than four years after he took the top job at the supplier. The company named industry veteran Tim Leuliette as interim CEO and chairman. Last autumn, Leuliette was reportedly among independent board members pushing Stebbins to streamline the company. Visteon, which counts on Europe for more than a third of its annual sales, has posted losses in two of the last three quarters after coming out of bankruptcy in 2010.... Read More »

 

Visteon, with stock at post-bankruptcy low, eyes acquisitions

9:49 am U.S. ET | Aug. 3, 2012
Visteon, the supplier with its stock at a post-bankruptcy low, is looking at acquisitions in climate and electronics with a goal toward boosting market share in both.... Read More »

 

Visteon's offer for Halla shares rejected by South Korean pension fund

10:52 am U.S. ET | July 23, 2012
South Korea's National Pension Service said today it rejected the tender offer made by American auto parts supplier Visteon to acquire its 8.1 percent stake in car air conditioner maker Halla Climate Control.... Read More »

 

Visteon offers $800M to take full control of Halla

10:41 am U.S. ET | July 5, 2012
Visteon plans to offer some $800 million to take full control of South Korean car air conditioner maker Halla Climate Control, but analysts cautioned that a key shareholder may hold out for more. Separately, Visteon said it was terminating a deal to sell its interiors business to a Chinese joint venture with Huayu Automotive Systems.... Read More »

 

Faurecia, Rush joint venture names top executives

4:52 pm U.S. ET | June 26, 2012
Detroit Manufacturing Systems today announced its top executives as the auto supplier prepares to begin manufacturing this year. DMS, a joint venture between Rush Group and the North American subsidiary of French component supplier Faurecia SA, officially named Rush Group CEO Andra Rush its president and CEO.... Read More »

 

Visteon shareholders elect directors favoring revamp of supplier

1:04 pm U.S. ET | June 14, 2012
Visteon, the supplier trying to sell two of its four units, took another step toward remaking itself today as shareholders elected nominees who support revamping the company.... Read More »

 

Ford sells ACH lighting operations in Ohio to unit of Flex-N-Gate

3:56 pm U.S. ET | May 30, 2012
Ford 's Automotive Components Holdings unit reached an agreement to sell its headlamp and taillight business to Ventra Sandusky, a unit of Flex-N-Gate. The sale includes a plant in Sandusky, Ohio, which will operate as Ventra Sandusky. Under the deal, Ventra Sandusky will also operate ACH's automotive lighting service parts operation in Bellevue, Ohio.... Read More »