KENOSHA, Wis. (Nov. 14, 2014) — Snap-on Inc.'s board of directors has appointed Donald J. Stebbins as a director, effective Jan. 4, 2015.
Mr. Stebbins, 56, serves as president and CEO of Superior Industries International Inc., a manufacturer of aluminum wheels for the automotive industry, according to Snap-on. www.snapon.com/ He joined that company in May 2014 and also is a director. Mr. Stebbins previously served as chairman, president and CEO of Visteon Corp., an automotive components manufacturer, from 2008 until 2012, and was the firm's president and chief operating officer from 2005 until 2008.
Before joining Visteon, Mr. Stebbins held various positions with increasing responsibility at Lear Corp., a supplier of automotive seating and electrical distribution systems, including president and chief operating officer – Europe, Asia and Africa, president and chief operating officer – Americas, and senior vice president and chief financial officer. He also serves as a director of WABCO Holdings Inc., a provider of electronic, mechanical and mechatronic products.
W. Dudley Lehman, Snap-on director and chair of the corporate governance and nominating committee, said that with Mr. Stebbins' “substantial operational and financial experience, Don will be a great addition to our board. We look forward to his significant contributions to the Snap-on team.”
The company said it believes Mr. Stebbins meets the independence requirements of the New York Stock Exchange. His appointment increases the size of Snap-on's board to 10 members. In accordance with the company's bylaws, Mr. Stebbins will serve for a term expiring at the 2015 annual meeting of shareholders and will be subject to annual election thereafter.
Kenosha-based Snap-on makes and markets tools, equipment, diagnostics, repair information and systems solutions for professional users. Its products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.