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Marcato Capital Management And Oskie Capital Management Outline Potential Value Creation Strategy For Lear Corporation

Marcato Capital Management LLC (“Marcato”) and Oskie Capital Management LLC (“Oskie”) (together with their affiliated investment funds, “the Group”), announced today that they have sent a letter to the Board of Directors of Lear Corporation (NYSE: LEA) (“Lear” or “the Company”) outlining concerns around the Company’s valuation, describing the Group’s ideas for potential value-creating initiatives and reiterating the Group’s interest in meeting with members of the Board.

The full text of the letter follows:

Marcato Capital Management LLC

One Montgomery Street, Suite 3250

San Francisco, CA 94104

Telephone Number 415-796-6350

      Oskie Capital Management, LLC

10 East 53 rd Street, 31 st Floor

New York, NY 10022

Telephone Number 646-450-0095

 

February 12, 2013

Mr. Henry Wallace, Chairman of the Board
Mr. Matthew J. Simoncini, President, Chief Executive Officer and Director
Mr. Thomas P. Capo , Nominating and Corporate Governance Committee Chairman
Mr. Jonathan F. Foster
Ms. Kathleen A. Ligocki
Mr. Conrad L. Mallett, Jr., Compensation Committee Chairman
Mr. Donald L. Runkle
Mr. Gregory C. Smith, Audit Committee Chairman
c/o Lear Corporation
21557 Telegraph Road
Southfield, MI 48033
 

Dear Members of the Board of Directors,

1 of 4

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