TOLEDO, OH — Dana Corp.’s board of directors has named Michael Burns CEO, president and a director of the company, succeeding the late Joe Magliochetti, who passed away Sept. 22, 2003. Burns, who has been president of General Motors Europe since 1998, will officially take over on March 1.
Bill Carroll, who has served as acting president and COO since September, will continue in these positions until March 1, at which time he will retire from the company. Glen Hiner, who has served as acting chairman of the board since September 2003, will continue in this role.
“Mike Burns has the leadership skills, depth of industry experience, international acumen, energy and personal qualities to lead Dana forward as a powerful competitor in the automotive components industry,” said Hiner. “For the past four months, the board has conducted a comprehensive search, internally and externally, for the best qualified executive to lead Dana through its transformation and into the next decade. At the end of this rigorous process, we unanimously concluded that Mike is that person, and we are delighted that he will be joining us.
“Bill Carroll’s contribution to Dana in many roles over the past 34 years, and especially during the past few months, has been invaluable,” Hiner added. “We are very grateful to him and wish him all the best.”
Over the past five years, Burns has led a turnaround of GM’s $25 billion European division that resulted in market share gains through product development realignment, quality enhancement and significant cost reductions. He was also a member of the GM automotive strategy board and was responsible for GM’s worldwide quality process.
“I have long known and respected Dana’s people and their dedication to serving the global transportation industry,” Burns said. “The company’s tradition of innovation, its focus on technology and quality and its strong corporate culture have made it an industry leader for 100 years. I am excited to be part of the Dana team as we start the next 100 years. Dana has established a solid platform for future success, and I am eager to build upon it as we enhance products and services for our customers, as well as build value for our shareholders.”
To learn more about Dana, go to: http://www.dana.com.
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