Lear CTO sets innovation strategy

January 21, 2019

Seven months ago, newly anointed Lear Corp. CEO Ray Scott hired longtime automotive technology veteran John Absmeier to the newly created role of chief technology officer. Scott tasked Absmeier with turning the legacy automotive seating supplier into a 21st century tech company.

So far, it's working. Capitalizing on several past acquisitions, such as Israel-based GPS technology firm EXO Technologies and Troy-based connectivity supplier Arada Systems Inc., Lear last week founded a separate division to invest in startups and grow startup culture at the 112-year old company with Absmeier at the helm.

Absmeier said the division, Lear Innovation Ventures Possibilities, positions Lear for three objectives: develop a corporate strategy around mergers and acquisitions; establish a culture and mechanism to jump-start new ideas; and provide an independent research and development arm of the company. Read the full article here.