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Dana CEO profiled

by David Zatz on

Larry Vellequette, a highly respected Toledo Blade reporter, has written an extensive profile of Roger Wood, who left BorgWarner to head up Dana Holding Corp. Dana, once known for its bulletproof axles, was criticized by some insiders for parts quality issues before going through bankruptcy proceedings in 2008. Vellequette pointed out that Wood has had only one employer, BorgWarner, since he started working as an engineer in 1985.

Roger Wood’s base salary of $950,000 will, if he succeeds, be supplemented by a performance bonus of up to $1.1 million, as well as annual incentive stock grants of up to around $4 million and one-time cash of up to $2 million.

In 2010, Dana lost $22 million on sales of $6 billion. In July, Dana reported a quarterly profit of $61 million on sales of $2 billion.

For details, see the Toledo Blade article.

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