Visteon CEO Pestillo to retire next year

DETROIT, June 28 (Reuters) - Visteon Corp.'s Pete Pestillo will give up his role as CEO in July, but will remain chairman of the automotive parts company until he retires in May next year, the company said on Monday.

President and Chief Operating Officer Michael Johnston 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.