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07-29-2011, 07:20 AM
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(Thread Starter) |  Report: Visteon CEO Stebbins hints at breakup  As one of the world's largest suppliers of automotive parts, Visteon is a highly valuable company with hands in many areas of vehicle production. Visteon produces components for automotive interiors, climate control systems, lighting and electronics. The company is run by CEO Donald Stebbins, and the man in charge has come out to say that it may be time to split up the company into separate entities. The Tier 1 supplier has struggled in recent years, declaring Chapter 11 bankruptcy in early 2009, only emerging from protection last October.There's been no official disclosure of plans for any spin-offs, as Stebbins has reportedly noted that one shouldn't discuss a sale until after it's completed. Still, the Visteon CEO also stated that the company's product portfolio won't be the same in three years time as it is today. According to reports, many Visteon investors want to see the company split up. They believe they could fetch far more selling the parts giant off in sections than they would if attempting to lump it all into one large sale.Visteon CEO Stebbins hints at breakup originally appeared on Autoblog on Fri, 29 Jul 2011 08:59:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments More... |
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