Four Visteon to Resign from Board

Visteon Corp. says four of its 10 directors have chosen not to seek re-election to the company's board at its annual shareholder meeting on June 14.

Visteon, which disclosed the changes in a filing with the U.S. Securities and Exchange Commission, says the four three of them members of Visteon's compensation committee did not have any disagreement with the company.

The departing directors are Philippe Guillemot, former CEO of Europcar; Hebert Henkel, former CEO of Ingersoll Rand, Mark Hogan, president of Dewy Investments and former Magna president; and Karl Krapek, former CEO of United Technologies. All four have been directors in Visteon emerged from bankruptcy in October 2010.

The company nominated Robert Manzo and its six remaining directors. Manzo is managing member of turnaround firm RJM I LLC.

Visteon's board has had a stormy year. Reuters reported in November that directors nominated by activist shareholder Alden Global Capital have clashed with management, instigated the ouster of the CFO and seek to break up the company.