Industry News
CFO leaves Hayes Lemmerz for same job at Dana Corp
15th May 2008
James Yost has left his job as executive vice president and chief financial office of the US wheel maker Hayes Lemmerz to take up the same position at fellow US Tier 1 supplier Dana Corp.
Dana, which emerged from Chapter 11 at the end of January this ear, also announced that it delivered improved profitability in the first quarter of 2008 versus the same period one year ago, highlighted by net sales of $2,312 million, a y/y increase of approximately 8%, primarily because of currency effects. Net income of $685 million, included a one-time gain of $754 million after taxes, reflecting effects of Chapter 11emergence and adoption of fresh start accounting. This compares to a net loss of $92 million in the first quarter of 2007.
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