Dana Corporation Names Ted Stenger Chief Restructuring Officer

TOLEDO, Ohio, March 6  /PRNewswire-FirstCall/ -- Dana Corporation (NYSE:DCN) announced today that Ted Stenger has been named Chief Restructuring Officer for the company.  Mr. Stenger will report directly to Dana Chairman and CEO Mike Burns in this role.

(Logo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA)

"Ted brings to Dana more than 20 years of experience assisting major corporations in addressing significant financial and operational challenges," Mr. Burns said.  "Ted's primary responsibilities will include communicating with our creditors during our reorganization, as well as many other key elements of the Chapter 11 process.  He will also work closely with our senior management team as we develop our reorganization plan to emerge from Chapter 11 as a strong company and a vigorous competitor in the automotive industry."

Mr. Stenger most recently served as Chief Restructuring Officer at Fleming Companies, a leading supplier of consumer packaged goods.  His previous restructuring assignments have included service as Treasurer at Kmart Corporation, a discount retailer; restructuring advisor to Allied Holdings, an automotive transportation and logistics provider; financial advisor to Fruit of the Loom, an international basic apparel company; and restructuring advisor at FINOVA Group, a commercial financial services company.

Mr. Stenger is a Managing Director of AlixPartners, a financial advisory firm specializing in performance improvement and corporate turnarounds.  He is co-leader of the firm's turnaround and restructuring practice.  Prior to joining AlixPartners, he was in the Corporate Finance Group of Ernst & Young.

Dana people design and manufacture products for every major vehicle producer in the world.  Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually.  A leading supplier of drivetrain, chassis, structural, and engine technologies, Dana employs 46,000 people in 28 countries.  Based in Toledo, Ohio, the company reported sales of $9 billion in 2004.  Dana's Internet address is: http://www.dana.com/. 

http://www.newscom.com/cgi-bin/prnh/19990903/DANA

http://photoarchive.ap.org/

DATASOURCE: Dana Corporation



CONTACT:  Chuck Hartlage of Dana Corporation, [phone], or

 



Web site:  http://www.dana.com/ 



Company News On-Call:  http://www.prnewswire.com/comp/226839.html 

Copyright