Dana Corporation, now operating under US Chapter 11 bankruptcy protection, has named Kenneth Hiltz chief financial officer.
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He replaces Robert Richter whose retirement was announced on Monday.
“Ken possesses a strong leadership background in corporate turnarounds, restructurings, and reorganisations that will benefit Dana as we work to position our company for greater financial health and operational growth,” CEO Mike Burns said. “Among Ken’s chief strengths is his ability to lead the analysis, planning, and implementation of restructuring strategies.”
Hiltz’s financial experience spans more than three decades in a wide variety of industries, including heavy manufacturing and automotive, contracting, distribution, retailing, and numerous service businesses.
Like Ted Stenger, named chief restructuring officer on Tuesday, Hiltz is also a managing director of AlixPartners, a financial advisory firm specialising in performance improvement and corporate turn-arounds.
His background includes having served as CFO at Foster Wheeler, a global provider of engineering services and products, which restructured its debt out of court. Hiltz was also involved in successful reorganizations as chief restructuring officer and CFO of Hayes Lemmerz International, a global supplier of automotive and commercial highway wheels, brakes, powertrain, suspension, structural, and other lightweight components and CFO of Joy Global (formerly Harnischfeger Industries), a global manufacturer of mining equipment.
