American Axle Names CEO David Dauch To Additional Role Of Chairman

(RTTNews) - Automotive supplier American Axle & Manufacturing Holdings Inc. (AXL) said Friday that its board of directors has named president and chief executive officer David Dauch to the additional role of chairman of the board. The appointment is effective immediately.

Thomas Walker, the independent lead director of American Axle's board of directors said, "Naming David C. Dauch as Chairman reflects his deep knowledge of AAM's global business and operations and the high regard in which he is held by the Board of Directors. David has proven himself to be an outstanding and instrumental leader in the continued diversification of AAM's product portfolio, customer base and global footprint."

Dauch's father, Richard Dauch, was executive chairman of American Axle until his passing on August 2, 2013. Richard Dauch co-founded Detroit, Michigan-based American Axle in March 1994.

Richard Dauch had served as the company's chairman of the board from 1997 until his passing. Most recently, he served as executive chairman of the board. He also served as CEO from 1994 to 2012 and was president of American Axle from March 1994 to December 2000.

David Dauch has been serving as the company's president and CEO since September 2012. He is also a member of American Axle's board of directors since 2009. Since joining the company in July 1995, he has served in positions of increasing responsibility, including most recently as president and chief operating officer.

Prior to joining American Axle, Dauch served in several positions at Collins & Aikman Products Co., where he received the President's Award for leadership and innovation.

American Axle makes driveline and drivetrain systems, as well as related components and chassis modules for trucks.

In Friday's regular trading session, AXL is trading at $19.89, up $0.15 or 0.76 percent on a volume of 53,072 shares.