Dana Appoints Two Members to the Board

Automotive supplier Dana Holding announced today it has appointed two new members to the board of management, effective immediately. The two are Joseph C. Muscari, chairman and chief executive officer of Minerals Technologies and Richard F. Wallman, former senior vice president and chief financial officer of Honeywell International.

"We are delighted to welcome Joe and Richard to the Dana Board," Dana Executive Chairman John Devine said in a statement. "Both executives bring to our Board strong backgrounds and deep leadership experience."

63-year old Muscari has a Bachelor of Science degree in Industrial Engineering from the New Jersey Institute of Technology and an MBA from the University of Pittsburgh. He held positions with Alcoa and Minerals Technologies. At Dana, he will assume a role on the Compensation Committee.

59-year old Richard F. Wallman earned a Bachelor of Science degree in Electrical Engineering from Vanderbilt University and an MBA from the University of
Chicago. He worked with AlliedSignal, Honeywell, IBM, Chrysler and Ford and will be in charge, as chairman, of Dana's Audit Committee.

Separately, Dana announced last month a new joint venture with Bosch Rexroth AG, which will be in charge of engineering and building advanced drive transmissions for the off-highway market.

Dana supplies axles, driveshafts, off-highway transmissions, sealing and thermal-management products, while Bosch Rexroth operates in the field of drive and control technologies.

Earlier this month, Dana announced it will supply engine oil cooling technology for the new 2011 Hyundai Sonata, Kia Sorento and the 2011 Hyundai Santa Fe, equipped with the 2.4 liter powerplant.