Business Context and Reporting Period
This Form 8-K filing by Dana Incorporated (DANA Inc.) reports corporate governance changes effective February 16, 2018. The filing was submitted on February 20, 2018, and pertains to the appointment of new directors and the resignation of existing directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the composition of the Board of Directors:
- New Appointments: Michael J. Mack, Jr. and Diarmuid B. O'Connell were appointed to the Board effective February 16, 2018.
- Committee Assignments: Mr. Mack joined the Audit and Compensation Committees. Mr. O'Connell joined the Nominating and Corporate Governance and Compensation Committees.
- Resignations: Terrence J. Keating and Mark A. Schulz notified the Board they will not stand for re-election at the 2018 Annual Meeting and will resign effective on that date.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. No specific risks or contingencies related to financial performance are disclosed in this document. The new directors will receive compensation consistent with other nonemployee directors, and no undisclosed arrangements regarding their selection were reported.
Key Facts for Investor Verification
- Verify the effective date of the new directors' service (February 16, 2018) and their specific committee assignments.
- Confirm the resignation timeline for Terrence J. Keating and Mark A. Schulz (effective at the 2018 Annual Meeting of Shareholders).
- Review the background of new appointees: Mr. Mack (former CFO of Deere & Co.) and Mr. O'Connell (former VP of Business Development at Tesla).
- Note that this filing does not include financial results; investors should refer to the most recent 10-Q or 10-K for financial metrics.