Dana Incorporated Announces Leadership Change for its Light Vehicle Drive Systems Business
Dana Incorporated (NYSE: DAN) announced a leadership transition in its Light Vehicle Drive Systems division, effective July 9.
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Rhea-AI Summary
Dana Incorporated (NYSE: DAN) announced a leadership transition in its Light Vehicle Drive Systems division, effective July 9. Byron Foster, previously Dana's senior vice president and chief commercial officer, will replace Bob Pyle, who is leaving to become a CEO outside the mobility sector. Foster’s extensive experience in senior executive roles at Johnson Controls and Adient is expected to enhance Dana's customer-focused approach. The company reported $7.1 billion in sales for 2020, emphasizing sustainability and employee recognition.
Positive
- Byron Foster's extensive experience in senior roles is expected to strengthen leadership in Light Vehicle Drive Systems.
- The leadership change aims to enhance customer-centric strategies.
Negative
- Bob Pyle's departure raises concerns about continuity in leadership.
Details
News Market Reaction – DAN
The recorded move for DAN in the trading session of this news was -0.38%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
MAUMEE, Ohio, June 28, 2021 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today announced a leadership change for its Light Vehicle Drive Systems business.
Industry veteran Byron Foster, who most recently served as Dana's senior vice president and chief commercial, marketing, and communications officer, will succeed Bob Pyle as president, Light Vehicle Drive Systems. Mr. Pyle announced that he will be leaving Dana, effective July 9, to accept a CEO position outside the mobility industry.
Mr. Foster previously served in senior executive roles at Johnson Controls, Inc., and Adient plc for more than two decades.
"Byron's tremendous commercial and operational experience, coupled with his commitment to customer centricity, make him an ideal fit to lead our Light Vehicle business," said James Kamsickas, Dana chairman and CEO. "I'd like to thank Bob for his leadership and service to Dana as he helps to ensure a smooth transition."
Mr. Foster earned a Bachelor of Business Administration degree from the University of Michigan and a Master of Business Administration degree from Northwestern University.
About Dana Incorporated
Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions for all mobility markets across the globe. The company's conventional and clean-energy solutions support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.
Based in Maumee, Ohio, USA, the company reported sales of
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SOURCE Dana Incorporated
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