OH-based Dana Corp. announced Sept. 23 that Joe Magliochetti, the
company's chairman and chief executive officer, died unexpectedly
Sept. 22 from complications from pancreatitis. The 61-year-old executive
had been hospitalized the past two weeks.
Sept. 23, the company's board of directors named Glen Hiner, one
of Dana's longest serving directors, acting chairman. Hiner will
continue as chairman of the Committee of Independent Directors.
The board also named Bill Carroll acting president. Carroll, president
of Dana's Automotive Systems Group and a 34-year veteran of the
company, will also continue in his previously announced role as
acting chief operating officer.
Magliochetti was a wonderful man, not only respected but also beloved
by his friends and colleagues," Hiner said. "All of us
at Dana are profoundly saddened by his loss, and our thoughts and
prayers are with Joe's family."
served with great distinction for more than three decades and was
an outstanding leader. He built a culture of integrity and a strong
organizational structure. He leaves behind an accomplished management
team, which continues to have the full support of the Board of Directors
as it pursues the strategic course Joe forged," Hiner said.
had been a frequent subject of automotive news in the past months,
as the Dana Co. remains the target of a hostile takeover bid by
Troy, MI-based automotive supplier ArvinMeritor Inc.
began his Dana career as a management trainee in 1966 and served
the company for 37 years, culminating in his election as Dana's
sixth chairman in 2000.
the early 1980s, he served as president of Dana Europe, with responsibility
for all operations in Europe and the Middle East. In 1985, he returned
to the United States as group vice president of North American operations.
He was promoted to president of Dana Corp. in 1996, and was elected
to the company's board of directors later that year. In 1997, he
was elected chief operating officer. Magliochetti was named president
and chief executive officer in 1999, and chairman in 2000.
is survived by his wife, Kathy; three children; and one grandchild.
Corp. was founded in 1904 and is based in Toledo, OH. Dana operates
hundreds of technology, manufacturing and customer-service facilities
in 30 countries.