Dana Holding exits Chapter 11
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From Times Wire Services
Dana Holding Corp. emerged from almost two years of Bankruptcy Court protection, and the auto parts maker named former General Motors Corp. finance chief John Devine chairman and acting chief executive.
Private equity firm Centerbridge Capital Partners will control Toledo, Ohio-based Dana, and past managers of Chrysler Corp., Ford Motor Co. and Toyota Motor Corp. will join Devine on its board, the company said. Mike Burns, CEO since 2004, is leaving the company.
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