Dana Announces Leadership Transition and Actions to Accelerate Value Creation
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Dana Incorporated has announced a leadership transition with R. Bruce McDonald appointed as Chairman and CEO. The company plans to sell its Off-Highway business and initiate a $200 million cost reduction plan. Dana also confirmed its 2024 full-year guidance for sales, adjusted EBITDA, and free cash flow.
November 25, 2024 | 9:45 pm
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Dana Incorporated has appointed R. Bruce McDonald as Chairman and CEO, plans to sell its Off-Highway business, and initiate a $200 million cost reduction plan. The company confirmed its 2024 guidance for sales, adjusted EBITDA, and free cash flow.
The leadership change and strategic actions such as selling the Off-Highway business and cost reduction are likely to positively impact Dana's stock in the short term. These moves are aimed at value creation and efficiency, which investors typically view favorably. Confirmation of 2024 guidance adds confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100