Dana Names Acting Chairman, President

Dana Corp. on Tuesday named Glen Hiner acting chairman and Bill Carroll acting president of the vehicle parts supplier.

The company said in a statement the men would replace Joe Magliochetti, the company's chairman and chief executive officer, who passed away Monday night.

Dana said Carroll, who is president of Dana's Automotive Systems Group, would continue as acting chief operating officer. Hiner would continue as chairman of the board's Committee of Independent Directors, Dana said.

Magliochetti began his Dana career in 1966 and worked for the company for 37 years. He was named Dana's sixth chairman in 2000, the release said.

Dana is currently fighting a $2.2 billion hostile takeover bid from rival ArvinMeritor Inc. Dana's board has urged stockholders to reject the $15-a-share offer, which ArvinMeritor disclosed July 8 and extended until Oct. 2, Bloomberg reported.

Larry Yost, chairman and CEO of ArvinMeritor, declined to comment Tuesday on whether Magliochetti's death would affect ArvinMeritor's takeover bid, Bloomberg said.

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