James Sweetnam, who has been the CEO of Dana Holding Corp. since July 2009, has resigned. Dana has had six CEOs in the last three years. While the board searches for a successor, Executive Chairman John Devine will serve as interim CEO. Director Richard Wallman will be leading the search committee.
Sweetnam, who was with Eaton Corp. for 11 years, had replaced Devine at Dana. Sweetnam also has experience in heading Eaton's truck group.
In February 2008, when Dana emerged from its two-year bankruptcy, Devine became acting CEO and took over after Mike Burns' four-year stint.
In April 2008, Gary Convis, a former Toyota Motor Corp. manufacturing executive, became CEO.
In November, Convis became vice chairman in November, while Devine once again held the CEO position. Before Devine joined Dana, he held senior executive positions in a career that spanned over 30 years in the auto industry.
Devine has experienced being the CFO of both General Motors and Ford Motor Co. Dana, a supplier of axles, driveshafts and structural, sealing, and thermal management products, holds the No. 9 position on the Automotive News list of the top 150 suppliers to North America.
In the 2009 fiscal year, Dana posted sales of $2.67 billion. [via autonews - sub. required]