SOUTHFIELD, Mich. – Lear Corp. announced that its Board of Directors has authorized a $300 million increase to its existing share repurchase program, bringing the total value of shares that may be repurchased to $700 million.
 
Shares will be repurchased from time to time in open market or privately negotiated transactions at prices, times and amounts to be determined by the company. The share repurchase authorization expires on Feb. 16, 2014.
 
Through the end of 2011, the company has completed the purchase of $279 million of stock under the previously announced $400 million share repurchase authorization.
 
"We are committed to driving shareholder value," said Matt Simoncini, Lear president and CEO. "We believe this can be best achieved through a combination of continued investment in our core businesses and the consistent return of cash to our shareholders."