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| Dr Herbert Demel is to become President of the global Powertrain Group, part of Canadian automotive supplier Magna International Inc., effective June 1, 2005. As Magna International announced today, the 51-year-old is assuming responsibility for one of the most important powertrain enterprises in the world. |
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Demel has already held a responsible position within Magna International when he was CEO and President of the world’s largest independent supplier of vehicles to OEMs, Magna Steyr, from 2002 to 2003 before moving to Fiat Auto in Turin.
The Magna Powertrain Group was established when Magna Drivetrain merged with Tesma International’s powertrain, transmission and engine components divisions. The newly formed group reports a current sales volume of around 3 billion US dollars and ranks among the leading suppliers of systems and components in the fields of powertrain and all-wheel drive technology.
Siegfried Wolf, co-CEO of Magna International: "I’m delighted that we have succeeded in appointing Herbert Demel to this important position in our organization and getting him back to the Magna fold. Together with the experienced management team led by Günther Apfalter and Peter Reif, which is now also to have the support of Wolfgang Sauerzapf, I feel sure he’s the right man to consolidate the Magna Powertrain Group’s leading position."
Demel himself says: “Magna International is one of the world’s most exciting and dynamic companies in the automotive sector. I’m happy to be returning, especially as the Powertrain Group has great potential, given all-wheel drive technology’s sustained global success.”
Born in Vienna in 1953, Demel gained a PhD from Vienna University of Technology. In 1984 he joined Robert Bosch AG, Stuttgart, where he took over various management positions in important engineering fields. He moved to Audi AG, Ingolstadt, in 1990 where he became a member of the board in 1993, spokesman for the board in 1994 and chairman of the board in 1995. In 1997 Demel was appointed president of Volkswagen do Brasil in Sao Paulo/Brazil. He assumed the management of Magna Steyr AG in Oberwaltersdorf in 2002. Most recently, he ran Fiat Auto in Turin/Italy as CEO from 2003.
Oberwaltersdorf, Austria / Aurora, ON, Canada – May 17, 2005
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