Visteon completed the sale of a climate control subsidiary as part of its strategy to become what it termed “a technology-focused pure-play supplier of automotive cockpit electronics and connected car solutions.”
The Michigan-based automotive supplier also announced that it had appointed former top Harman International executive Sachin LawandeÂ as its new CEO, succeeding Tim Leuliette, who is retiring. Lawande will assume his new responsibilities June 29.
Visteon sold its 70 pc stake in Halla Visteon Climate Control Corp (HVCC) to an affiliate of Hahn & Company and Hankook Tire for 3.6 billion dlrs. The divestment means the company’s main business areas are now in vehicle information and controls, audio and infotainment and domain controllers.
“We are focused and well-positioned to support our customers in the new era of the connected vehicle,” said Visteon Chairman Francis Scirocco.
With Lawande, the supplier group is appointing an expert in automotive electronics. The 48-year-old electrical engineer was Harman’s head of infotainment and earlier served as executive vice president in several otherÂ divisions of the premium audio and infotainment company. Before joining Harman, Lawande worked at QNX and 3Com.
In a press statement, Scricco called Lawande “the perfect individual to lead and transform our company to achieve further success in the rapidly evolving automotive electronics market.”
LawandeÂ said he was keen to makeÂ Visteon the leading player in driver information systems and infotainment for the connected car. Said the new CEO: “Electronics and software are more important to the automotive industry than ever before.