Aug 29 American Axle and Manufacturing Holdings
Inc said it named David Dauch for the top job at the
U.S. auto parts supplier from Sept. 1.
David Dauch would succeed his father Richard Dauch, who
founded the company in 1994.
Richard Dauch would become executive chairman of the
RBC Capital Markets analyst Joseph Spak said the succession
was expected even though the timing was always a little
"David Dauch has increased his visibility and exposure over
the years and we believe the Street is very familiar and
comfortable with him," Spak added.
The company reported sharply lower quarterly earnings in
July, hurt by costs related to the closing of plants in Michigan
and New York. Margins were down on higher costs for steel and
Shares of the company were trading almost flat at $10.94 on
the New York Stock Exchange on Wednesday morning.