UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 26, 2016
VISTEON CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 1-15827 | 38-3519512 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| One Village Center Drive, Van Buren Township, Michigan | 48111 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code (800)-VISTEON
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
SECTION 5 – CORPORATE GOVERNANCE AND MANAGEMENT
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On January 26, 2016, Visteon Corporation (the “Company”) announced that Mr. Jeffrey M. Stafeil, Executive Vice President and Chief Financial Officer, will leave the Company upon the appointment of a successor, which is targeted to be completed around March 31, 2016. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Upon his departure, Mr. Stafeil will receive the benefits as provided under his Change in Control Agreement and other existing plans and award agreements of the Company, as substantially described in the Company’s 2015 proxy statement. Mr. Stafeil will also agree to certain non-disparagement, confidentiality, non-solicitation and non-competition covenants.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01. Financial Statements and Exhibits.
| Exhibit No. |
Description | |
| 99.1 | Press release dated January 26, 2016. | |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VISTEON CORPORATION | ||||||
| Date: January 26, 2016 | By: | /s/ Peter M. Ziparo | ||||
| Peter M. Ziparo | ||||||
| Vice President and General Counsel | ||||||
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EXHIBIT INDEX
| Exhibit No. |
Description |
Page | ||
| 99.1 | Press release dated January 26, 2016. | |||
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Exhibit 99.1
|
NEWS RELEASE |
Visteon Announces Chief Financial Officer Jeffrey M. Stafeil to Leave Company After Appointment of Successor
VAN BUREN TOWNSHIP, Mich., Jan. 26, 2016 — Visteon Corporation (NYSE: VC) today announced that Jeffrey M. Stafeil, executive vice president and chief financial officer, will leave the company after the appointment of his successor. Stafeil has agreed to remain in the role to ensure an orderly transition until a successor is hired, which the company is targeting by the end of the first quarter of 2016.
Stafeil has been with Visteon since October 2012. During his tenure, Visteon has transformed from a multi-product automotive supplier to a focused supplier of cockpit electronics and software to the global automotive industry.
“Jeff was instrumental in executing the strategy that resulted in this transformation of Visteon, and has an excellent record of delivering solid financial results and generating significant returns for investors,” Lawande said. “With Visteon now a pure-play cockpit electronics supplier, Jeff and I have agreed that now is the appropriate time to transition to a new financial leader for this new phase of the company’s evolution. On behalf of our board of directors, shareholders and employees, I thank Jeff for his dedication and commitment to Visteon and wish him success in the future.”
About Visteon
Visteon is a global company that designs, engineers and manufactures innovative cockpit electronics products and connected car solutions for most of the world’s major vehicle manufacturers. Visteon is a leading provider of instrument clusters, head-up displays, information displays, infotainment, connected audio, and connectivity and telematics; its brands include Lightscape®, OpenAir® and SmartCore™. Headquartered in Van Buren Township, Michigan, Visteon has nearly 11,000 employees at 50 facilities in 19 countries. Visteon had $3.1 billion in electronics sales over the last 12 months. Learn more at www.visteon.com.
Follow Visteon:
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Contact:
Media:
Jim Fisher
734-710-5557
734-417-6184 – mobile
jfishe89@visteon.com
Investors:
Bob Krakowiak
734-710-5793
bkrakowi@visteon.com
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