Fiscally troubled automotive and truck component supplier Dana Corp. has named Ted Stenger to be its chief restructuring officer (CRO), reporting directly to chairman & CEO Mike Burns, to help the company navigate Chapter 11 bankruptcy protection.
Burns said Stenger’s primary responsibilities will include communicating with creditors during Dana’s reorganization and working closely with senior management to develop a reorganization plan to emerge from Chapter 11.
This isn’t Stenger’s first stint as a CRO. He served in that capacity for the Fleming Companies, a supplier of consumer packaged goods, along with similar positions at Kmart Corp., Fruit of the Loom, and car carrier Allied Holdings.
