Starting March 15, Jeffrey Vanneste will become senior vice president and CFO of Lear Corp. It was just five years ago that Vanneste had left to work for the supplier's former interiors unit. The latest position he held was as executive vice president and CFO of International Automotive Components Group. In 2007 Vanneste entered IAC in 2007 when the company, which was owned by investor Wilbur Ross, acquired the North American interiors division of Lear.
In late 2009, Lear emerged from a four-month bankruptcy but it kept a 23% stake in IAC. Vanneste had served as the vice president of finance for Lear's European operations before it joined IAC. Vanneste is the replacement for interim CFO Jason Cardew. Lear has yet to clarify if Cardew will stay with the company.
Dennis Richardville, the vice president of finance and global corporate controller, was named as the interim CFO of IAC. In a statement, the company said that a search is being conducted to replace Vanneste. Based in Southfield, Mich., Lear is the eighth largest supplier to North America, according to the Automotive News rankings. In 2010, Lear posted sales of $4.1 billion in original equipment parts in North America.