| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Dana Corp. > News item |
Dana vice president and CFO retires; Stenger named chief restructuring officer
By Caroline Salls
Pittsburgh, March 6 - Dana Corp. vice president and chief financial officer Robert C. Richter has retired from the company after more than 30 years of employment in several leadership roles, and Ted Stenger has been named chief restructuring officer, according to Monday news releases.
Dana chairman and chief executive officer Mike Burns said Richter will still be available to the company on a consulting basis.
Stenger's primary responsibilities will include communicating with creditors during the company's reorganization. He will also work closely with the senior management team in developing a plan of reorganization.
Richter joined Dana with its acquisition of the former General Ohio S&L Corp., at which he started in 1974. He was appointed Dana's chief financial officer in 1999.
Stenger most recently was chief restructuring officer at Fleming Cos. He was also treasurer at Kmart Corp., restructuring adviser to Allied Holdings, financial adviser to Fruit of the Loom and restructuring adviser at Finova Group.
Stenger is a managing director of AlixPartners, a financial advisory firm specializing in performance improvement and corporate turnarounds. He is co-leader of the firm's turnaround and restructuring practice.
Before joining AlixPartners, he was in the corporate finance group of Ernst &Young.
Dana, a Toledo, Ohio-based supplier of components, modules and systems to global vehicle manufacturers and related aftermarkets, filed for bankruptcy on Friday in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 06-10354.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.