UPDATE 1-Visteon's CEO moves step closer to retirement

Newswire

(Adds details throughout) DETROIT, June 28 (Reuters) - Visteon Corp.'s Pete Pestillo will give up his role as chief executive officer in July but stay on as chairman of the auto parts company until he retires in May next year, the company said on Monday. President and Chief Operating Officer Michael Johnston, 57, will succeed Pestillo as CEO on July 1, Visteon said. Pestillo, 66, will retire on May 11, 2005, the date of the company's next annual shareholders meeting. The succession was ...

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