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NEWS RELEASE
Contact(s): Media Inquiries: Visteon Corporation
Denise Bither Public Affairs
313-755-4063 5500 Auto Club Drive
[email protected] Dearborn, Michigan 48126
Facsimile: 313-755-7983
Investor Inquiries:
Kent Niederhofer
313-755-3699
[email protected]
[VISTEON LOGO]
FOR IMMEDIATE RELEASE
MICHAEL JOHNSTON JOINS VISTEON LEADERSHIP AS PRESIDENT AND CHIEF OPERATING
OFFICER
DEARBORN, Mich., September 7, 2000 - Less than three months after becoming an
independent company, Visteon Corporation (NYSE: VC) has named Michael Johnston
President and Chief Operating Officer. Johnston has more than 25 years
experience in the automotive supplier and aerospace industries. He is a
well-respected leader with extensive expertise in manufacturing, product
development, sales and customer relations and is known for delivering on
business commitments and improving shareholder value.
"Mike is a strong addition to Visteon's senior leadership," said Peter J.
Pestillo, Chairman and Chief Executive Officer, Visteon Corporation. "His
knowledge and experience of running global operations, growing margins and
revenues, and his outstanding customer relations record will enable him to hit
the ground running and help Visteon grow our customer base. I am pleased we were
able to find the right person so quickly after our independence."
Johnston will have responsibility for the day-to-day operations of Visteon's
business including: global operations, sales, manufacturing, product
development, research and development and customer relations.
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NEWS RELEASE
During his more than 25-year career, Johnston has been responsible for
operations in North America, South America and Asia Pacific. He has a history of
increasing margins and revenues, establishing robust internal operating
processes, successfully implementing Six Sigma into operations to improve
quality performance, improving customer relations by establishing integrated
teams and also played a key role in shareholder value initiatives including
movement into e-business and effective communication with Wall Street.
"I am very excited about joining the Visteon team," said Mike Johnston. "Visteon
is an exciting company with a great future. I look forward to working with Pete
and the entire Visteon team to deliver outstanding products to customers and
increase shareholder value."
During his career at Johnson Controls, Johnston has had P&L responsibilities for
a multi-billion dollar global business including directing an organization of
40,000 employees and 100 plants. He successfully drove best practice disciplines
and process improvements throughout the organization such as supply chain
restructuring and reducing costs, inventory and working capital requirements,
while enhancing the overall operating flexibility and efficiency of the
business. He also held responsibility for worldwide purchasing and engineering.
Johnston also has experience in the aerospace industry holding various positions
at Micropol, a subsidiary of Northwest Industries.
Johnston's most recent position was President, e-business for Johnson Controls
where he was charged with launching and growing new e-based businesses,
including non-automotive and using the Internet to support all phases of supply
chain and logistics, purchasing, manufacturing, distribution, marketing and
sales.
Visteon Corporation is a leading full-service supplier that delivers
consumer-driven technology solutions to automotive manufacturers worldwide and
through multiple channels within the global automotive aftermarket. Visteon has
a global delivery system of more than 130 technical, manufacturing, sales, and
service facilities located in 23 countries. It has 81,000 employees working in
three business segments: Dynamics and Energy Conversion; Comfort, Communication
and Safety; and Glass.
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Visteon news releases, photographs and product specification details
are available at www.visteon.com
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