DETROIT -- David Wajsgras has quit as CFO of interior supplier Lear Corp. to take a similar job with defense systems maker Raytheon Corp. His resignation is effective March 10.
Lear said Wednesday that Vice Chairman James Vandenberghe would be interim CFO while it looks for a replacement. Vandenberghe was Lear's previous CFO.
Wajsgras, 48, has worked at Lear for nearly six years and had been CFO for the past four years. He also was in charge of Lear's Interior Systems division. That job has been given to back to Douglas DelGrosso, who is Lear's president.
Lear lost $1.37 billion on revenue of $17.09 billion during 2005 compared with a net profit of $422 million on revenue of $16.96 billion in 2004. The 2005 results included one-time write-downs and other charges of more than $1 billion.
Lear stock is trading near its 52-week low of $21.86. It has traded as high as $53.54 in the past year.
Lear Corp., of Southfield, Mich., ranks No. 7 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $17.0 billion in 2004.
You may e-mail Dale Jewett at [email protected]