Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
Good morning,

Today Reuters reported Covisint L.L.C., the global Internet marketplace launched by some of the world's largest auto companies, on Wednesday said it elected its first board of directors, including executives from some of the top auto and auto part suppliers in the world.

Covisint elected 12 members to its board, including Delphi Automotive Systems Corp. <DPH.N> Chief Executive J.T. Battenberg, Johnson Controls Inc. head James Keyes, and James Vandenberghe, vice chairman of Lear Corp. <LEA.N>

Covisint said it still has five more members to elect.

The car-parts trading exchange was started by car makers DaimlerChrysler AG <DCXGn.DE> <DCX.N>, Ford Motor Co. <F.N> and General Motors Corp. <GM.N>

Auto companies Japan's Nissan Motor Co Ltd. <7201.T> and France's Renault SA <RENA.PA> have since joined the group, along with technology providers Commerce One Inc. <CMRC.O> and Oracle Corp. <ORCL.O>

The five automakers plan to funnel their combined $300 billion in annual supply and material purchasing through a single Internet portal. Suppliers could eventually add another $500 billion in yearly purchases that they make.

To see the entire story click on the news @ the top of this page.

Best wishes,

Spirit
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.