Dana extends executive chair's pact through 2010

AP News
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Posted: Dec 16, 2009 3:25 PM

Auto parts maker Dana Holding Corp. has extended Executive Chairman John Devine's contract through next year, the company said Wednesday.

Dana also announced that Vice Chairman Gary Convis will retire at the end of this year.

Convis joined Dana as CEO in April 2008 and has been vice chairman since January 2009. The company said he will be retained as a special adviser to President and CEO Jim Sweetnam.

No replacement was named for Convis on the nine-member board.

Devine became executive chairman in February 2008 and has led the company's rebuilding efforts after it emerged from bankruptcy protection in early 2008. His contract was to expire on Dec. 31.

Dana shares were unchanged at $9.43 in afternoon trading.