AURORA, ON, Dec. 7 /CNW/ - Magna International Inc. (TSX: MG.A, NYSE:
MGA) today announced that its President, Mark Hogan, has decided to leave
Magna effective December 31, 2007, to pursue other opportunities.
Mr. Frank Stronach, Magna's Chairman, together with Magna's co-Chief
Executive Officers Don Walker and Siegfried Wolf, jointly stated: "We thank
Mark for his contributions to Magna over the past three years, particularly in
building Magna's presence in the Asia Pacific region and in strengthening our
relationships with the Asian-based OEMs, and we wish him well in the future."
"It has been a privilege to serve as Magna's President and helping lead
this great company as it celebrates 50 years of growth and success," said Mark
Hogan. "I am looking forward to both the opportunities and the challenges the
future holds, and I wish Magna continued success."
Magna also announced today the appointment of Jim Tobin as Magna's
Executive Vice-President, Business Development and President of Magna Asia.
Mr. Tobin has been with Magna for five years as Cosma International's
Executive Vice President of Sales and Marketing.
We are the most diversified automotive supplier in the world. We design,
develop and manufacture automotive systems, assemblies, modules and
components, and engineer and assemble complete vehicles, primarily for sale to
original equipment manufacturers of cars and light trucks in North America,
Europe, Asia, South America and Africa. Our capabilities include the design,
engineering, testing and manufacture of automotive interior systems; seating
systems; closure systems; metal body and chassis systems; vision systems;
electronic systems; exterior systems; powertrain systems; roof systems; as
well as complete vehicle engineering and assembly.
We have approximately 83,000 employees in 240 manufacturing operations
and 62 product development and engineering centres in 23 countries.
For further information:
For further information: about this media release, please contact
Vincent J. Galifi, Magna's Executive Vice President and Chief Financial
Officer at (905) 726-7100