VAN BUREN TOWNSHIP, Mich. The board of directors of Visteon Corp. has extended the employment contract of President and CEO Timothy Leuliette through 2017. His current contract was set to expire Dec. 31, 2015.
Leuliette has served as president and CEO since Oct. 1, 2012, less than two months after the board appointed him to those roles on an interim basis. He has been a director of Visteon since 2010.
"We are pleased that Tim’s successful leadership of Visteon will continue for the foreseeable future," said Francis Scricco, chairman of Visteon’s board of directors. "Under Tim’s leadership, Visteon has created significant value for customers and shareholders by delivering on the strategic plan first articulated in September 2012."
Scricco noted that no additional equity or other incentive awards will be added to Leuliette’s contract before the original agreement’s ending date of Dec. 31, 2015.
Leuliette added, "I am honored and thrilled by the opportunity to continue elevating Visteon’s performance and leveraging the simplified, focused, globally competitive business we have shaped over the past 21 months. It is a privilege to work with 24,000 talented employees around the world who are driven to generate value for our customers, shareholders and partners."