VAN BUREN TOWNSHIP, Mich. – Visteon has announced that its board of directors elected Martin Welch III executive vice president and chief financial officer (CFO), effective Oct. 17.
 
Welch reports to Visteon Chairman, CEO and President Donald Stebbins. As a member of Visteon's global leadership team, Welch is responsible for the company's financial operations including treasury, tax, audit and investor relations. He will also be responsible for the company's mergers, acquisitions and divestiture activity. Welch replaces William Quigley III, who is leaving Visteon on Oct. 31.  
 
Welch has held several financial management positions with both private and public companies, most recently as executive vice president and CFO for United Rentals Inc., in Greenwich, Conn. He also served as chairman of the audit committee for Delphi Corp. from 2006-2009. Earlier in his career, Welch served as CFO at both Kmart Corp. and Federal-Mogul Corp., and held various financial positions at Chrysler Corp. Welch has a bachelor's degree in accounting and an MBA from the University of Detroit Mercy and is a member of the university's board of trustees.
 
"Marty's extensive experience in building and leading financial teams is a strong asset for Visteon as we continue to grow our global business," Stebbins said. "Additionally, Marty brings tremendous experience in the automotive industry. We're pleased to have him on Visteon's leadership team."
 
Also during its normal annual review process, the board selected next year's lead director and committee chairs. Kevin Dowd was unanimously selected to serve as the company's lead independent director. In addition, the board also unanimously appointed Harry Wilson as chair of the finance and corporate strategy committee; Duncan Cocroft as chair of the audit committee; Mark Hogan as chair of the organization and compensation committee; and Herbert Henkel as chair of the corporate governance and nominating committee.
 
The company also selected Goldman Sachs Group, Inc., and The Rothschild Group as financial advisers.