Visteon Amends Bylaws to Allow for Nonexecutive Board Chairman

Visteon Corp. (VC), which ousted its chief executive officer last month, amended its bylaws to give the board the ability to appoint a nonexecutive board chairman.

Visteon is leaning toward naming Tim Leuliette, the interim CEO and chairman, to the permanent CEO position, three people familiar with the plan said last week. Visteon disclosed the bylaw change in a regulatory filing after regular trading in New York.

To contact the reporter on this story: Mark Clothier in Southfield, Michigan, at mclothier@bloomberg.net

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net

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