Visteon Appoints New CEO; Peter Pestillo to Remain Chairman Through May 2005

Visteon's board of directors has appointed Michael Johnston as the company's new president and CEO. Johnston's move from president and COO to CEO and president is part of a succession plan put in place when Johnston joined Visteon in 2000. He takes over the role of CEO from Peter Pestillo, who has been chairman and CEO of Visteon since January, 2000. Pestillo will continue as chairman of Visteon's board until May 11, 2005, the date of the company's next annual shareholders meeting, when he plans to retire.

DEARBORN, MI — Visteon’s board of directors has appointed Michael Johnston as the company’s new president and CEO.

Johnston’s move from president and COO to CEO and president is part of a succession plan put in place when Johnston joined Visteon in 2000. He was subsequently elected to the Board of Directors in April, 2002.

He takes over the role of CEO from Peter Pestillo, who has been chairman and CEO of Visteon since January, 2000. Pestillo will continue as chairman of Visteon’s board until May 11, 2005, the date of the company’s next annual shareholders meeting, when he plans to retire.

With nearly three decades of experience in the automotive supplier and aerospace industries, Johnston has extensive expertise in manufacturing, product development, sales and customer relations. Prior to joining Visteon in September 2000, Johnston had been with Johnson Controls since 1989 and held leadership positions of progressively increased responsibility.

To learn more about Visteon, go to: www.visteon.com.

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