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AP News

American Axle names new CEO

DETROIT (AP) — Auto parts supplier American Axle & Manufacturing Holdings Inc. on Wednesday named David Dauch as its chief executive, replacing his father who co-founded the company 18 years ago.

The appointment of David Dauch, 47, who currently serves as American Axle's president and chief operating officer, is effective Sept. 1. He keeps his job as president.

Richard Dauch, 69, will move to the role of executive chairman, the Detroit-based auto supplier said.

David Dauch joined the company in 1995 after working for Collins & Aikman Products Co.

American Axle supplies automakers with axles and other components. While its customer base has diversified in recent years, the bulk of its sales are still to nearby General Motors Co.

American Axle shares rose 5 cents to $10.96 in morning trading. Its shares have fallen 16 percent since hitting a 52-week high of $13.08 in mid-February.

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