Axle supplier Dana Holding Corp. has named James Sweetnam its CEO, the companys fourth person in the position in the past 16 months.
Sweetnam, 56, will join Dana in July after 11 years with engine component supplier Eaton Corp., Dana said today in a statement. He most recently headed Eatons truck group.
Sweetnam replaces John Devine, a former CFO of General Motors and Ford Motor Co. Devine will stay with Dana as executive chairman as the supplier again juggles top personnel to find good fits for each position, Dana spokesman Chuck Hartlage said.
When Dana emerged from its two-year bankruptcy in February 2008, Devine became acting CEO, taking over after Mike Burns four-year stint. Former Toyota Motor Corp. manufacturing executive Gary Convis took over as CEO in April 2008. But he became vice chairman in November, while Devine again became CEO.
It just seemed what [Convis] brought to the company was better suited to the role of vice chairman, Hartlage said.
Before joining Eaton, Sweetnam spent 10 years at diesel engine maker Cummins Inc., including a stint as president of Cummins Electronics Co. He holds a degree in applied science and engineering from the U.S. Military Academy in West Point, N.Y., and an MBA from Harvard University.
Dana, of Toledo, Ohio, emerged last year from a two-year Chapter 11 bankruptcy reorganization. Late last year, it said it would close as many as 10 plants. And in March, Dana warned it would cut 5,800 jobs this year.
Danas production of axles, driveshafts and structural, sealing, and thermal management products ranks it No. 8 on the Automotive News list of the top 150 suppliers to North America in 2008, with sales to North American automakers of $3.89 billion in its 2008 fiscal year.