American Axle CEO to sell up to 2.5M shares

DETROIT

The CEO of American Axle & Manufacturing Holdings Inc. is selling up to 2.5 million of his shares in the auto parts supplier, the company said Friday.

Richard E. Dauch will sell the shares through a stock trading plan that allows corporate insiders to sell specific amounts of stock. He will be permitted to sell shares between April 1 and March 31, 2011.

Shares of American Axle fell 27 cents, or 2.5 percent, to close at $10.55.