American Axle Makes Rahangdale President

Other appointments also announced.

Auto parts supplier American Axle & Manufacturing Inc. has named industry veteran Yogendra N. Rahangdale as president and chief operating officer, effective Oct. 1.

Rahangdale, 57, most recently served as executive vice president of operations and planning, and previously spent 12 years with the former Chrysler Corp.

The post of president and chief operating officer had been vacant since October 2004, when former president and COO Joel Robinson was named a vice chairman. Robinson had been president since 2001.

In other announcements:

Richard F. "Rick" Dauch, 44, was named executive vice president of worldwide manufacturing. Rick Dauch is the son of American Axle's co-founder, Richard E. Dauch, and previously served as president of the company's metal formed products division.

Marion Cumo, 63, was named vice president of the special projects division and Al Monich, 51, was appointed vice president of program management and capital planning.

"These appointments are part of AAM's strategic organizational development that will provide the leadership to guide AAM to its next level of profitable global growth," said Richard Dauch, who is also the company's chairman and chief executive.

Like other automotive suppliers, American Axle has been struggling with the high cost of steel and other raw materials as well as labor costs. American Axle workers represented by the United Auto Workers union went on a one-day strike last year before reaching a new labor agreement that allows the company to give lower wages to new hires.

American Axle said production cuts at General Motors Corp., its major customer, also has hurt business so far this year. The company reported second-quarter earnings of $18.9 million, down from $55.3 million in 2004.

American Axle shares fell $1.25, or 4.8 percent, to close at $24.71 Thursday on the New York Stock Exchange. They have been trading in a range of $18.57 to $35.80 in the past year.

To access the company's website, access www.aam.com

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish