SOUTHFIELD, Mich., Sept. 19 /PRNewswire-FirstCall/ -- Lear Corporation today announced that it has promoted Wendy Foss to the position of vice president - Finance & Administration and deputy corporate secretary and promoted Ed Lowenfeld to assistant treasurer - Capital Markets and director - Investor Relations.
In her new capacity, Foss will work closely with the company's Legal and Finance functions to coordinate the preparation and implementation of corporate policies and procedures, support the company's financial reporting and disclosure process and advise senior management on corporate governance and compliance matters. She will also be responsible for arranging and maintaining the records of Board of Director and Shareholder meetings.
In his expanded role, Lowenfeld will be responsible for the company's day- to-day Investor-Relations activities. The Investor Relations responsibilities will complement his on-going role as assistant treasurer, where he is responsible for communications with the rating agencies and debt capital markets. Mel Stephens will continue as the company's vice president of Investor Relations and Corporate Communications.
In commenting on the new appointments, Daniel A. Ninivaggi, Lear Executive Vice President, Secretary and General Counsel, stated, "Today's appointments reflect a significant expansion of responsibilities for two talented and experienced finance professionals with demonstrated records of achievement. We are very fortunate to have a very strong and deep pool of talent within Lear."
"Wendy has solid experience in accounting, financial systems & controls and financial management," continued Ninivaggi. "Since joining Lear, Ed has been a key part of Lear's Treasury group. His strong financial background, knowledge of the capital markets and experience in dealing with the investment community make him well-suited to take on the added Investor Relations responsibilities."
Foss joined Lear as accounting director in May 1999 as part of Lear's acquisition of United Technologies Automotive (UTA). In addition to her responsibilities related to the global accounting, financial reporting and internal control activities of Lear, Foss also managed the post-acquisition integration of accounting functions related to the purchase of UTA. Since 1999, Foss has held several financial management positions at Lear and most recently was vice president - Accounting and assistant corporate controller. Prior to joining Lear, Foss held financial management positions at UTA and PricewaterhouseCoopers LLP.
Lowenfeld joined Lear's Treasury team in 2004 from MCE Technologies, Inc. where he was director - Financial Planning and Analysis. Prior to working at MCE Technologies, Lowenfeld held various management positions in Corporate Finance and Treasury at Ford Motor Company.
Foss earned a Bachelor of Science in Business Administration from Central Michigan University and a Master of Science degree in Finance from Walsh College. A Certified Public Accountant, Foss sits on the Finance Committee for the Visiting Nurse Association, Inc. and for Inforum (formerly known as the Women's Economic Club).
A graduate of Duke University in Durham, N.C., with an AB in Economics, Lowenfeld also earned an MBA from the Kellogg School of Management at Northwestern University.
Lear Corporation is one of the world's largest suppliers of automotive interior systems and components. Lear provides complete seat systems, electronic products and electrical distribution systems and other interior products. With annual net sales of $17.1 billion in 2005, Lear ranks #127 among the Fortune 500. The Company's world-class products are designed, engineered and manufactured by a diverse team of 115,000 employees at 282 locations in 34 countries. Lear's headquarters are in Southfield, Michigan, and Lear is traded on the New York Stock Exchange under the symbol [LEA]. Further information about Lear is available on the Internet at http://www.lear.com/ .
