Management ChangeJun 12, 2026, 07:01 AM
Dana Appoints Byron Foster CEO; R. Bruce McDonald Executive Chairman
AI Summary
Dana Inc. announced the appointment of Byron S. Foster as President and Chief Executive Officer, effective July 1, 2026, succeeding R. Bruce McDonald. Mr. McDonald will transition to Executive Chairman of the Dana Board, also effective July 1, 2026, with his term ending December 31, 2028. The company detailed compensation arrangements for both executives, including base salaries, annual incentive opportunities, and a one-time restricted stock unit award for Mr. McDonald.
Key Highlights
- Byron S. Foster appointed President and CEO, effective July 1, 2026.
- R. Bruce McDonald appointed Executive Chairman, effective July 1, 2026.
- Foster's initial base salary set at $1,000,000.
- Foster's target annual incentive opportunity is 150% of base salary.
- McDonald's base salary set at $700,000 as Executive Chairman.
- McDonald's target annual incentive opportunity is 100% of base salary.
- McDonald to receive a one-time RSU Award with a target value of $5,000,000.
- McDonald's RSU Award vests 50% on Dec 31, 2027, and 50% on Dec 31, 2028.
Price Impact
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