R Bruce McDonald has been appointed Chairman and CEO of Dana Incorporated, succeeding James Kamsickas, who is retiring after nine years. This leadership change is effective immediately, with Kamsickas remaining as an advisor until March 2025. McDonald, a current Dana board member, brings extensive automotive and manufacturing experience to the role. The Board will conduct a comprehensive search for a permanent CEO.
Dana Incorporated announced the appointment in an official statement. The company highlighted McDonald's experience and the board's intention to find a permanent CEO. Kamsickas expressed confidence in Dana's future and pride in the company's achievements during his tenure.
Work experience
McDonald has served on Dana's Board of Directors since 2014, participating in the Audit Committee and chairing the Nominating and Corporate Governance Committee. He is the retired chairman and CEO of Adient plc., a global mobility supplier. His experience also includes key leadership roles at Johnson Controls, Inc., where he served as executive vice president and vice chairman, as well as executive vice president and CFO.
His earlier career included a position as vice president for finance at TRW Automotive. This background establishes him as a seasoned leader with a strong understanding of mergers and acquisitions, the company said in a media release.
James Kamsickas reflected on his tenure, stating "I am proud of the work the Dana team has done over the past decade to grow revenues and successfully enhance the technology to serve all mobility markets no matter what type of propulsion they may use. It has been an honor to lead this talented global team during that time and I am confident the Company is well positioned for the future."
Keith Wandell, Dana’s Lead Independent Director, emphasised that this leadership transition is a strategic move to address the evolving mobility landscape. He stated that McDonald's public company leadership and expertise in mergers and acquisitions make him the right choice to lead Dana during this transitional phase. The board will conduct a thorough search for a permanent CEO. Wandell’s statement underscores the importance of McDonald’s experience in guiding the company through a period of transformation in the industry.
As he assumes his new role, McDonald emphasised his commitment to driving value for the Company and its shareholders. "Dana is differentiated by leading technology innovation and a track record of continuous improvement."
"My conviction in our businesses, the team and the opportunities to capitalize on the EV transition over the long term remain strong. I look forward to stepping into my new role as CEO at such an important time for Dana and will work diligently alongside the Board and management team to deliver on these actions and drive value for Dana shareholders," McDonald added.
