Leuliette to Step Down as CEO at Visteon by Year-End

Visteon Corp. says CEO Tim Leuliette plans to leave the company this year after a successor is found.

Leuliette replaced Don Stebbins as CEO at Visteon in 2012. Prior jobs included stints as CEO of Dura Automotive Systems, co-CEO of Asahi Tech, co-founder of Metaldyne and president of Penske Corp.

Leuliette led a sweeping restructuring of Visteon that included selling its lighting division, much of its interiors business and its stake in South Korea-based Halla Visteon Climate Control. The company also acquired Johnson Controls' electronics unit and Cooper Standard Automotive's thermal and emission businesses.

The overhaul has turned Visteon into a company heavily focused on electronics, displays and software. Visteon says the company and Leuliette agree the company should have a new CEO to grow the business.