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Lear appoints Bott to board of directors

SOUTHFIELD, Mich. (AP) -- Lear named finance industry veteran Richard Bott to its board of directors Thursday.

Bott worked in investment banking for more than 35 years at Morgan Stanley and Credit Suisse First Boston, now known as Credit Suisse. He retired in 2007 as vice chairman of institutional securities of Morgan Stanley.

The company said Bott's extensive investment banking experience and deep knowledge of capital markets add valuable perspective to the board. Bott's appointment brings the total size of Lear's board to nine members.

Lear Corp., based in Southfield, Mich., makes automotive seating and electrical distribution systems.

Company shares added 14 cents to reach $72.52 by early afternoon.