Michael Burns Named CEO of Dana

Resource from: www.ebearing.com Likes:3024

Feb 09,2004

Michael Burns, head of General Motors' European division, has been named CEO of Dana Corp. (USA). He joins Dana as of March 1, 2004. GM Vice Chairman, Robert Lutz, will replace Mr. Burns in an interim basis through June 1 until Fritz Henderson, now President of GM Asian-Pacific operations, takes over the post. Troy Clark, currently head of GM North American manufacturing, joins Mr. Henderson in Asia immediately and will take his post when Mr. Henderson moves on in June. Mr. Henderson had been President of fast-growing GM Asia-Pacific since 2002. The opportunity for Mr. Burns comes amid changes for Dana and GM. In September 2003, Dana President Joe Magliochetti died suddenly, amid a $4.4 billion hostile takeover bid by ArvinMeritor Inc.. ArvinMeritor gave up the takeover attempt in November 2003. Mr. Burns had been with GM Europe since 1998; in 2003 it lost $286 million and was still slowly recovering from a long-term slump in sales and profitability. Prior to joining GM in 1981, he had been with the Delco electronic systems division of Delphi. Mr. Lutz said there was no problem or issue behind Mr. Burns' departure and that he was not forced out. "I think, like many of us," he said, "he had a burning desire to be a chief executive and, with Rick Wagoner's age, it was kind of improbable that he would do that."

(www.ebearing.com)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous India Reduces Import Duties to Help Domestic Bearing Manufacturers
Next Federal-Mogul Bankruptcy Judge Declines Recusal

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.