SOUTHFIELD, Mich., Aug. 19, 2016 /PRNewswire/ -- Lear Corporation [NYSE: LEA], a leading global supplier of automotive seating and electrical systems, today announced that it was recently inducted into the Billion Dollar Roundtable Inc. (BDR), a top-level corporate advocacy organization that promotes supply chain diversity excellence, during the annual BDR Summit in Atlanta.
"We have significantly increased our focus on diversity in recent years both in terms of minority sourcing and our organization. Valuing diversity makes Lear a stronger and better company. I am pleased that we have reached this very important milestone with women and minority suppliers by exceeding $1 billion in sourcing with them. While we have more work to do, we have been making steady progress in all elements of diversity. I am gratified that the Billion Dollar Roundtable, our key customers and others have recognized our efforts," said Matt Simoncini, President and Chief Executive Officer.
The Billion Dollar Roundtable honored Lear Corporation at a formal induction ceremony today during its Summit in Atlanta. BDR summits convene thought leaders, procurement executives and other stakeholders to offer critical reviews of current approaches to supplier diversity and devise solutions to foster new opportunities. The theme of the Atlanta Summit was "Leading Breakthroughs in the Supply Chain: Trends, Economic Impact & Innovation."
"Lear's induction offers an exciting addition into the Billion Dollar Roundtable. Lear operates a robust supplier diversity program and also is a major Tier I supplier to major automotive companies, including other BDR members. Lear joins 21 other U.S.-based corporations in an exclusive group of companies that have attained $1 billion or more in annual Tier I supply-chain diversity spend, including its two largest customers General Motors and Ford in the organization. We will welcome Lear's unique contributions at the BDR table," said BDR Chairman Rick Hughes.
"Lear joins the BDR at a time when our recent annual summits have examined topics that include how global supply chains are being impacted by innovation and emerging technologies. These changes are redefining the roles of diverse suppliers within corporate supply chains. Lear is a model for advancing new approaches within its business and industry, and the BDR looks forward to Lear's ideas and thought leadership on these and other current topics in supplier diversity," said Sharon Patterson, BDR co-founder, president and CEO.
In addition to Lear, other BDR member companies are AT&T Inc., Avis Budget Group, Bank of America, The Boeing Co., Comcast NBCUniversal, Cummins Inc., Fiat Chrysler., Dell Inc., Ford Motor Company, General Motors Corp., Honda North America, IBM Corp., Johnson Controls Inc., Johnson & Johnson, Kaiser-Permanente, The Kroger Co., Microsoft Corp., Procter & Gamble Co., Toyota Motor North America Inc., Verizon Communications Inc. and Wal-Mart Stores Inc.
ABOUT LEAR CORPORATION
Lear Corporation (NYSE: LEA) is one of the world's leading suppliers of automotive seating and electrical distribution systems. Lear serves every major automaker in the world, and Lear content can be found on more than 350 vehicle nameplates. Lear's world-class products are designed, engineered and manufactured by a diverse team of approximately 140,000 employees located in 36 countries. Lear currently ranks #154 on the Fortune 500. Lear's headquarters are in Southfield, Michigan. Further information about Lear is available at http://www.lear.com or follow us on Twitter @LearCorporation.
ABOUT THE BILLION DOLLAR ROUNDTABLE
The Billion Dollar Roundtable Inc. was created in 2001 to recognize and celebrate corporations that achieve spending of $1 billion or more with diverse suppliers, including minority- and woman-owned companies. The BDR promotes and shares best practices in supply chain diversity excellence through summits, collaboration with other organizations and the production of policy papers. BDR member companies review and discuss issues, opportunities and strategies related to supplier diversity as a way to advance opportunities for corporations and diverse suppliers. The BDR encourages corporate entities to continue growing their supplier diversity programs by increasing commitment and spending levels each year. For more information, go to billiondollarrountable.org.
SOURCE Lear Corporation