Worst Corporate Press Release Of The Day: Dana (DAN)
“Dana Holdings Corporation Sharpens Focus On Leadership Roles”
“Dana Holding Corporation (DAN )today announced that its Board of Directors has appointed John Devine to the expanded role of chairman and CEO, and named Gary Convis vice chairman.”
“Convis, who has served as CEO since April, retains executive oversight of the manufacturing-oriented programs he has rolled out across Dana’s global operations.”
In other words, Convis got demoted, but Dana does not want to come right out and say it.
Douglas A. McIntyre