Press Release - Magna Announces Board Leadership and Other Changes
- Board Chair,
William L. Young , not standing for re-election - Audit Committee Chair,
Robert F. MacLellan , selected by Board to succeed as Board Chair in May - Dr.
Thomas Weber has been appointed to Board
AURORA, Ontario
“It has been and continues to be an honor to serve as Magna’s Chairman, working along-side a talented Board and Management team as the industry continues to transform,” said Young. “Magna’s leadership team is managing these unprecedented times with financial discipline and innovative thinking which will benefit all stakeholders for years to come.”
“Although big shoes to fill, I look forward to tackling this role at such an exciting time in the automotive industry,” said MacLellan.
Additional changes to the Board include:
Peter G. Bowie , will succeed MacLellan as Audit Committee Chair.- Dr.
Thomas Weber , formerly a member of Magna’sTechnology Advisory Council and a highly-respected former Daimler executive, has been appointed to the Board as a non-independent, non-executive director. Cindy Niekamp has also communicated her intention to retire at the end of her current term in May.
“I want to thank Bill for his outstanding leadership and contributions to the company’s success over the last 11 years,” said
“The Board and Management team look forward to working with Rob and Peter in their new roles beginning in May. In addition, I would like to welcome Thomas and thank Cindy for her valued insights and contributions since joining the
TAGS
Board of Directors, Board leadership changes
INVESTOR CONTACT
louis.tonelli@magna.com, 905.726.7035
MEDIA CONTACT
tracy.fuerst@magna.com, 248.761.7004
ABOUT MAGNA
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 343 manufacturing operations and 91 product development, engineering and sales centres spanning 28 countries.
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Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3b6f5d9-ee13-4068-89c9-4431de30de1f
https://www.globenewswire.com/NewsRoom/AttachmentNg/829ba0e0-d5db-40ba-b326-510dc2a7afbb
Source: Magna International Inc.