Dana Incorporated Appoints Ernesto M. Hernández to its Board of Directors

Rhea-AI Summary

Dana Incorporated (NYSE: DAN) has appointed Ernesto M. Hernández to its board of directors, effective immediately. Hernández, a former president of General Motors Mexico, brings extensive experience in mobility and product engineering. James Kamsickas, Dana's CEO, expressed confidence that Hernández's background in advanced technologies will aid the company's growth in alternative vehicle propulsion. Additionally, Raymond E. Mabus, Jr. will retire from the board at the 2022 Annual Meeting of Shareholders. Dana reported $7.1 billion in sales in 2020, emphasizing sustainability and social responsibility.

Positive

• Appointment of Ernesto M. Hernández expected to enhance board expertise in mobility and technology.
• Potential for strategic growth in alternative vehicle propulsion with new board member's experience.

Negative

• Retirement of Raymond E. Mabus, Jr. may create a gap in board experience.

MAUMEE, Ohio, Jan. 4, 2022 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that Ernesto M. Hernández has been appointed to the company's board of directors, effective immediately.

Mr. Hernández is a veteran mobility-industry executive with extensive knowledge of product engineering, manufacturing, planning, program management, sales, marketing, and the aftermarket.  He recently retired from General Motors after a 40-year career culminating in the role of president and managing director of General Motors, Mexico.  

"I am delighted to welcome Ernesto to the Dana board of directors," said James Kamsickas, Dana chairman and CEO.  "He brings a unique combination of industry expertise across all mobility segments, a global perspective, and a keen understanding of advanced technologies – all of which will be of great value to our board as we strategically and profitably grow the company and continue our leadership position in alternative vehicle propulsion."

Mr. Hernández also serves on the boards of BRP Inc., the recreational products business previously owned by Bombardier Inc.; and Constellation Brands, Inc., a producer of beers, wines, and distilled spirits.

The company also announced that Raymond E. Mabus, Jr., will retire from the board of directors at the 2022 Annual Meeting of Shareholders, and will serve as a director until that time.

About Dana Incorporated
Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that 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 $7.1 billion in 2020 with 38,000 associates in 33 countries across six continents.  Founded in 1904, Dana was named one of "America's Most Responsible Companies 2021" by Newsweek for its emphasis on sustainability and social responsibility. The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer, including "World's Best Employer" from Forbes magazine. Learn more at dana.com.

 

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SOURCE Dana Incorporated

FAQ

Who is Ernesto M. Hernández and what experience does he bring to Dana?

Ernesto M. Hernández is a veteran mobility-industry executive with a 40-year career at General Motors, including serving as president and managing director of General Motors, Mexico. His extensive knowledge encompasses product engineering, manufacturing, and advanced technologies.

What impact might Ernesto M. Hernández's appointment have on Dana?

Hernández's appointment may positively enhance Dana's strategic direction in alternative vehicle propulsion and leverage his industry expertise for growth.

When will Raymond E. Mabus, Jr. retire from Dana's board?

Raymond E. Mabus, Jr. will retire at the 2022 Annual Meeting of Shareholders, continuing to serve until that time.

What financial performance did Dana report in 2020?

Dana reported sales of $7.1 billion in 2020, demonstrating a strong market presence and financial stability.