Magna International Inc. (MGA) said on Tuesday that it will appoint Seetarama (Swamy) Kotagiri as the new CEO.
Kotagiri will succeed Don Walker starting in January. Walker served as CEO between 1994 and 2001 and again since 2005. He will officially retire at the end of the year.
Kotagiri has over 25 years of automotive industry experience and was previously Magna’s chief technology officer. He helped the company form partnerships in areas of autonomy, electrification, electronics, and connectivity.
While working as a chief technology officer, Kotagiri also served in various leadership positions including the President of the company’s Power and Vision segment.
“Given Swamy’s role in aligning the company’s strategy with the megatrends impacting new mobility and the ‘car of the future,’ he is the right leader to take Magna forward,” said the chairman of Magna’s board of directors in a company statement.
In his multiple roles in the company over the course of his 33-year career at Magna, Walker worked as vice president product development and engineering and chief executive officer of Magna Intier Automotive Inc., one of the company’s former public subsidiaries.
“Under Don’s strong leadership, Magna has grown to be the third-largest global automotive supplier, one of Fortune’s World’s Most Admired Companies,” said Young.
Last week, Magna International Inc. said that it signed agreements with Fisker Inc., an e-mobility automaker, to manufacture the Fisker Ocean SUV starting the fourth quarter of 2022.
The company will report its third-quarter 2020 results on November 6, according to its press release.
Magna International Inc. is a Canadian automotive supplier and is specialized in mobility technology for automakers.