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Automotive Hall of Fame Selects Dana's Morcott

20 October 1998

Automotive Hall of Fame Selects Dana's Morcott 1998 Automotive Industry Leader Of the Year; Morcott to be Honored in San Francisco February 7, 1999

    DEARBORN, Mich., Oct. 20 -- The leader of one of the world's
largest independent automotive components suppliers, Southwood J. "Woody"
Morcott, of Dana Corporation, has been named the Automotive Hall of Fame's
1998 Automotive Industry Leader of the Year.
    Morcott, Dana Chairman and Chief Executive Officer, will be honored at the
Automotive Hall of Fame & Popular Mechanics Annual Awards Luncheon at the
Hyatt Regency in San Francisco, February 7, 1999, during the National
Automobile Dealers Association's Annual Convention.
    The honor is bestowed each year to the individual who best exemplifies the
"image, foresight, leadership, integrity and purpose contributing most to the
advancement of the automotive industry," says Thomas J. Feely, Hall of Fame
Chairman.
    Morcott's achievements at Dana, combined with extensive community
activities, led to his selection as this year's Automotive Industry Leader,
says Feely.
    In 1998, Morcott led Dana's acquisition of Echlin Inc., the largest
acquisition in automotive components history.  Dana also launched its rolling
chassis this year, the most complex module system ever supplied to a customer,
coordinating 320 pieces from 72 suppliers, making up 28 percent of the total
vehicle.
    In addition to expanding exports and growth of Dana subsidiaries outside
North America, Morcott has added to Dana's international presence with more
than two dozen acquisitions and joint ventures since 1995, 18 of which
involved internationally-based companies.
    Morcott has led Dana on a path of steady growth in sales, profits and
global diversity.  Since Morcott took the helm in 1990, Dana has experienced
spectacular growth, tripling in size from a $5 billion company to $12 billion
in 1997.  Dana posted record third-quarter sales of $3 billion and profits of
$98 million for 1998, the first in which Dana's financial results include
those of former Echlin.
    Morcott's service on behalf of the industry goes beyond his work at Dana.
He was a founding member and the first co-chairman of the Automotive-Supplier
Government Action Council, where he worked with industry leaders on issues
affecting the entire industry.  He also served as Chairman of the Board of
Trustees of the Manufacturers Alliance and as a member of the U.S.-Japan
Business Council and the Policy Committee of the U.S. Business Roundtable.
    Community involvement is also important to Morcott.  He served as 1994
chairman of the Toledo Area United Way Campaign and has served on the Board of
Directors of three colleges as well as the Toledo Museum of Art and the Toledo
Hospital.  He has been affiliated with the Boy Scouts of America since
childhood and has received the Boy Scouts of America Distinguished Eagle Scout
Award.
    Morcott, 60, joined Dana in 1963 as Assistant to the Director of Corporate
Relations.  His passion for the industry inspired him to rise through the
ranks, holding a variety of positions including becoming President, North
American Operations in 1984, President and Chief Operating Officer in 1986,
and Chairman of the Board of Directors and Chief Executive Officer in 1990.
    Last year's Automotive Industry Leader of the Year was Alex Trotman, Ford
Board Chairman and Chief Executive Officer.  Past honorees include Lee A.
Iacocca (Ford Motor Company and Chrysler Corporation), Roger Penske (Penske
Corporation), Heinz Prechter (ASC, Inc.) and Roger B. Smith (General Motors
Corporation).
    The Automotive Hall of Fame recognizes and celebrates accomplished
individuals in the worldwide motor vehicle industry for the purpose of
encouraging others to achieve more in their lives and work.  Through a variety
of engaging exhibits and presentations, visitors experience the fascinating
lives and stories of the automotive industry's pioneers and leaders.
    The Automotive Hall of Fame is open Tuesday through Sunday, 10 a.m. to
5 p.m.  Admission is $6 adult, $5.50 senior (62+), and $3 youth (ages 5 to
12).  The Hall of Fame is at 21400 Oakwood Boulevard, Dearborn, Michigan,
adjacent to Henry Ford Museum.