American Axle & Manufacturing appoints former J.P. Morgan exec to board

DETROIT - American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) has appointed David B. Walker, a retired Vice Chairman of Investment Banking at J.P. Morgan, to its Board of Directors, the company announced Friday.

Walker retired from J.P. Morgan in June 2025 after serving in various leadership roles during his tenure, including Head of J.P. Morgan’s Automotive Group and Global Co-Head of the firm’s Diversified Industries Group.

"Throughout his career, he has advised and assisted global companies in strengthening their business profiles," said David C. Dauch, AAM’s Chairman and CEO, in a press release statement.

Walker brings 35 years of business experience advising companies across various industries worldwide. His background includes expertise in financing, strategy, acquisitions, and investment opportunities. He currently serves on the board of The Arc of Westchester Foundation.

American Axle & Manufacturing is a Tier 1 automotive and mobility supplier that designs and manufactures driveline and metal forming technologies for electric, hybrid, and internal combustion vehicles. The company operates more than 75 facilities across 15 countries and is headquartered in Detroit.

In other recent news, American Axle & Manufacturing Holdings announced that its stockholders have approved the company’s proposed acquisition of Dowlais Group plc. This approval marks a significant milestone toward finalizing the transaction, with Dowlais shareholders set to vote on the merger in July 2025. Additionally, American Axle has revealed plans to increase its authorized shares of common stock from 150 million to 375 million to facilitate this acquisition. The acquisition will involve a combination of cash and stock, with Dowlais shareholders receiving new American Axle shares and cash for each Dowlais share they hold.

In a separate development, UBS has upgraded American Axle’s stock from Neutral to Buy, citing the extended longevity of core programs such as General Motors’ full-size truck/SUV platform. This upgrade also comes with an increased price target, reflecting positive expectations for the company. These recent developments highlight significant strategic moves by American Axle, aimed at expanding its market presence and capitalizing on favorable industry conditions.

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