Dana CEO to Step Down following KNOC Acquisition
Dana reported Wednesday that Mr. Tom Cross, Chief Executive Officer of the Company, has tendered his resignation, which will become effective on November 8, 2010 following the acquisition by Korea National Oil Corporation ("KNOC").
Additionally, Dana has applied for the de-listing of the company and cancellation of the admission to trading of the ordinary shares of the company. The de-listing and cancellation of admission to trading is scheduled for Oct. 28, 2010.
On Nov. 9, Cross will join Parkmead Group as executive chairman, a business adviser, and investor in the energy sector.