Dana President Elected To Company's Board Of Directors
Dec 9, 1996
TOLEDO, Ohio, Dec. 9 /PRNewswire/ - The Board of Directors of Dana Corporation (NYSE: DCN) today elected the company's president, Joseph M. Magliochetti, a member of the board. Magliochetti's election increases the size of the Dana board to 10 persons. "Joe makes a great addition to the Dana Board!" said Chairman Southwood J. Morcott. "With his broad experience, he will really assist me and the board in implementing our plans for taking Dana Corporation beyond the year 2000 and into the 21st Century." Magliochetti joined the Victor Manufacturing Company of Chicago in 1966. Following Dana's acquisition of Victor in 1967, he served in a variety of sales, engineering and manufacturing positions at several Dana divisions. In 1978, he was promoted to general manager of the Spicer Clutch Division. He was appointed president of Dana Europe in 1980 and lived in London for five years, heading the company's operations on that continent. In 1985, he returned to the U.S. as a group vice president of North American Operations with a focus on industrial and mobile off-highway customers. He was named president of automotive-North American Operations in 1990 and president of North American operations in 1992. He was promoted to president of Dana Corporation in 1996. He attended the University of Illinois, the Harvard Advanced Management Program and the Hillsdale College Management Development Program. Dana Corporation is a global leader in the engineering, manufacturing and distribution of products and systems for the vehicular, industrial and mobile off-highway markets. Founded in 1904 and based in Toledo, Ohio, Dana operates facilities in 29 countries with 45,000 people. Its 1995 sales were $7.6 billion. Named in 1995 by Financial World magazine as one of the "Best 100 Growth Companies," Dana is noted for its style of management and its commitment to innovation. It has more than 38 product research and development centers worldwide. Dana also owns Dana Credit Corporation, a leading provider of lease financing services and winner of the 1996 Malcolm Baldrige National Quality Award. The Internet address for Dana's home page is: http://www.dana.com. SOURCE Dana Corporation CONTACT: Gary Corrigan, Director-Corporate Communications, of Dana Corporation, 419-535-4813