Simpson Elected Dana Corporation Chief Financial Officer
Dec 16, 1996
TOLEDO, Ohio, Dec. 16 /PRNewswire/ -- John S. Simpson has been elected Chief Financial Officer of Dana Corporation effective January 1, 1997. Simpson, who will also become a member of Dana's Policy Committee, succeeds James E. Ayers, who will retire after 33 years of service. "I am extremely pleased to welcome an individual with Jack's depth of financial experience and knowledge to this key position," said Dana Chairman and CEO Southwood J. Morcott. Simpson served as vice president of Finance and Treasurer of Dana in 1996. Prior to his most-recent duties, Simpson completed a wide array of Dana assignments, including serving as president of Dana Asia Pacific from late 1992 to 1995, living in Hong Kong. Simpson joined Dana in 1973 as controller of its Seco Electronics operation in Lancaster, S.C. In 1976, he moved to Dana's Industrial Power Transmission Division as treasurer and, in 1978, he was appointed controller of the Perfect Circle Products Division in Richmond, Indiana. Simpson became director of international finance for Dana in 1982, and vice president of finance for Warner Electric in 1985. He was named president of Dana's Diamond Savings & Loan in 1987. In 1992, Simpson was promoted to president of Dana Asia Pacific. He was appointed vice president of Finance and Treasurer of Dana effective January 1, 1996. Simpson is a graduate of the University of Minnesota and has completed the Harvard Business School Advanced Management Program, as well as management programs at the University of Wisconsin and the University of California. In addition, he served in the United States Army, first in Korea and then as a combat veteran in Vietnam. Dana Corporation is a global leader in the engineering, manufacture 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. Dana's home page is located at: http://www.dana.com. SOURCE Dana Corporation CONTACT: Gary Corrigan Director - Corporate Communications, of Dana Corporation, 419-535-4813