Lear Corporation has elected Henry Wallace as non-executive chairman of the Board of Directors with immediate effect.

Lear’s current chairman, CEO and president, Robert Rossiter, will continue to serve as CEO, president and as a director of Lear.

Wallace was previously at Ford for 30 years, where he held executive-level operations and financial oversight positions in North America, Europe, Latin America and Asia. These included group vice president Mazda and Asia-Pacific operations and CFO.

Wallace also serves as a director of AMBAC Financial Group, Diebold and Hayes Lemmerz International.

“Henry is extremely well suited for this role and I look forward to continue working closely with him and the board,” said Lear CEO and president Bob Rossiter.

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