TOLEDO, Ohio (Sept. 24, 2003) — Joseph Magliochetti, chairman and CEO of Dana Corp. since 1999, died unexpectedly Sept. 22 after being hospitalized for several weeks for complications from pancreatitis.
Mr. Magliochetti, 61—who began his Dana career as a management trainee in 1966—had led the company in its refusal to accept a recent takeover bid from competitor Arvin-Meritor Inc. He had served as chairman of the Motor Equipment & Manufacturers Association (MEMA) in 2000-01, and was active in other industry organizations including the U.S. Business Roundtable and its Policy Committee, the National Association of Manufacturers, the U.S.-Japan Business Council and the MEMA/JAMA Liaison Committee.
In 2002, Mr. Magliochetti was awarded the Automotive Hall of Fame Distinguished Service Citation in honor of his contributions to the motor vehicle industry and received MEMA's Triangle Award, the association's most prestigious honor.
On Sept. 23, Dana named Glen Hiner, one of its longest serving directors, acting chairman. He will continue as chairman of the board's Committee of Independent Directors. The board also named Bill Carroll acting president. He is president of Dana's Automotive Systems Group and a 34-year company veteran who will also continue in his previously announced role as acting chief operating officer.
Mr. Hiner called Mr. Magliochetti “a wonderful man, not only respected but also beloved by his friends and colleagues. All of us at Dana are profoundly saddened by his loss, and our thoughts and prayers are with Joe's family.”
Mr. Magliochetti leaves his wife Kathy, three children and one grandchild.
Dana is a global company that designs, engineers and manufactures products and systems for automotive, commercial and off-highway vehicle manufacturers and their related aftermarkets. Founded in 1904, the Toledo-based firm reported 2002 sales of $9.5 billion.