April 17, 2008 -- Auto parts supplier Dana Holding Corp. named a retired Toyota Motor Corp. executive as its new chief executive on Thursday. Gary Convis, chairman of Toyota Motor Manufacturing in Kentucky before retiring last year, will take over a company that emerged from bankruptcy protection in January following nearly two years of restructuring.
The maker of axles and brakes is moving manufacturing to lower-cost countries while becoming less dependent on Ford Motor Co. and General Motors Corp., its two biggest customers. Convis, 65, was appointed to Dana's new board of directors when the company's management was overhauled this year. He steps in for Dana executive chairman John Devine, who had been serving as acting CEO since January. Convis spent 20 years with Toyota and worked in various roles with General Motors Corp. and Ford Motor Co. earlier in his career.
Abstracted from Associated Press Newswires
