Dana Taps Insider Byron Foster for CEO in Strategic Evolution

MAUMEE, Ohio – February 12, 2026 – Dana Incorporated (NYSE: DAN) today announced a significant leadership transition, appointing Byron Foster as its new Chief Executive Officer. The change, effective July 1, 2026, marks a deliberate and planned succession, with current Chairman and CEO R. Bruce McDonald set to continue in his role as Chairman of the Board.

The move elevates a key internal leader at a pivotal moment for the global automotive supplier. Foster, who currently serves as Senior Vice President and President of Light Vehicle Systems—Dana's largest business unit—is credited with steering the division to significant financial success. His appointment suggests a strategy of continuity and an intent to double down on the operational and commercial initiatives that have defined his tenure.

A Signal of Strategic Continuity

The structure of the transition, featuring an internal promotion coupled with the incumbent CEO's continued presence as Chairman, signals stability to investors and employees. It suggests an evolution of strategy rather than a revolutionary pivot. R. Bruce McDonald, who took the helm in November 2024, has presided over a period of intense strategic realignment for the company. His ongoing role ensures that his deep institutional knowledge and strategic oversight will remain available to guide the new CEO.

"Byron is an exceptional leader with a deep understanding of our business, our customers, and the opportunities ahead," said McDonald in the company's official announcement. "He has been a driving force behind Dana's transformation, playing a pivotal role in elevating our operations and delivering stronger results across the organization. His commercial, operational, and strategic expertise make him the ideal person to guide Dana through its next chapter of growth."

McDonald's endorsement underscores the board's confidence in Foster's ability to build upon the foundation laid over the past two years. By splitting the CEO and Chairman roles, Dana is also aligning with corporate governance best practices that favor independent board leadership and a clear separation of day-to-day management from strategic oversight.

A Proven Leader for a Transforming Company

Byron Foster is no newcomer to the challenges of the automotive sector. With over two decades of senior leadership experience, including executive positions at industry giants Johnson Controls and Adient plc, he brought a wealth of expertise to Dana upon joining in 2021. He initially led the company's global commercial, marketing, and communications efforts before quickly assuming leadership of the Light Vehicle Systems division later that year.

Under his guidance, the division delivered what the company describes as "strong sales growth and profit margin improvement." This performance is particularly noteworthy given the market's recent volatility and cost pressures. Foster's success in Dana's largest segment makes him a natural choice to replicate that performance across the entire enterprise, which reported preliminary sales of $7.5 billion in 2025 and employs 28,000 people globally.

"I am honored by the trust the board has placed in me and grateful for Bruce's leadership and support during this transition," Foster stated. "Dana has a powerful legacy of engineering excellence and a talented global team committed to delivering value to our customers across the light vehicle and commercial vehicle markets. I look forward to building on this strong foundation as we continue to innovate, grow, and position Dana for long‑term success."

Navigating a Shifting Mobility Landscape

Foster's ascension comes as Dana sharpens its focus on the most dynamic segments of the mobility market. A key strategic move under McDonald's leadership was the divestiture of its Off-Highway business, a multi-billion-dollar sale that allowed the company to concentrate its resources on its core Light Vehicle and Commercial Vehicle businesses. This strategic streamlining positions Dana to more effectively compete in the global transition toward electrification and clean-energy solutions.

The company is a critical supplier of drive systems, electrodynamic technologies like software and controls, and thermal and sealing solutions for nearly every major vehicle manufacturer. As the industry grapples with the pace of EV adoption—which has seen some recent demand fluctuations—Dana's balanced portfolio of conventional and clean-energy products provides a hedge. Foster's primary task will be to navigate this complex landscape, capitalizing on the long-term growth in electrification while maximizing performance in its established product lines.

Balancing Growth with Financial Discipline

The new CEO will inherit a company that has become more financially resilient through aggressive cost management. Under McDonald, Dana initiated a significant cost-reduction plan, recently increasing its target to $300 million in annualized savings by 2026. These measures have been instrumental in improving the company's adjusted EBITDA margin, which saw a 60-basis-point improvement in 2024 to 8.6% despite a slight dip in annual sales.

This focus on efficiency has been paired with a robust commitment to shareholder returns. The company has actively pursued a capital return program, recently expanding its share repurchase authorization to $2 billion by 2030 and increasing its quarterly dividend. This disciplined financial strategy provides a stable platform from which Foster can pursue growth.

Foster's challenge will be to maintain this financial discipline while steering the company toward new opportunities. He will be responsible for delivering on Dana's $750 million three-year new business backlog, which is heavily weighted toward next-generation vehicle platforms. His leadership will be critical in ensuring that the company's investments in innovation translate into profitable market share gains as the automotive world continues its profound transformation.