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Be the first with the news that moves the market- Magna International (MG) has said its President Seetarama “Swamy” Kotagiri will replace Don Walker as CEO, effective January 1, 2021
- Don, who will retire at the end of the year, acted as CEO from 1994 to 2001, and again from 2005
- Seetarama has spent 25 years in the automotive industry, 21 of which have been with Magna, and previously acted as Chief Technology Officer
- The company said the appointment forms part of its leadership succession plan, which has facilitated the transition of 10 senior leadership roles over the last three years
- Magna International (MG) is currently up 2.26 per cent to C$72.30 per share at 10:42am EDT
Magna International (MG) has said its President Seetarama “Swamy” Kotagiri will replace Don Walker as CEO, effective January 1, 2021.
Don, who will retire at the end of this year, has spent 33 years with the company, acting as CEO from 1994 until 2001 and again since 2005. In his time with Magna, he also acted at Vice President of Product Development and Engineering, Chief Operating Officer and President, as well as CEO of Magna’s former spinout company, Intier Automotive from 2001 to 2005.
“Leading Magna and working with all our great employees has been a tremendous honor and I am extremely proud of everything we have accomplished together,” Don said.
“In addition to Swamy’s strong technical and operational strengths, he has played an integral role in advancing the company’s position in the changing mobility landscape and encouraging a start-up mindset to solve problems with solutions from outside our industry,” he added.
Seetarama has spent more than 25 years in the automotive industry, 21 of which have been with Magna. He previously acted as Chief Technology Officer, where he was credited with strengthening the company’s culture of innovation by forming partnerships across autonomy, electrification, electronics and connectivity.
With a master’s degree in mechanical engineering from Oklahoma State University, Seetarama also held a number of other senior positions, including President of Magna Electronics and Magna Powertrain, and the company’s Power and Vision segment.
William L. Young, Chairman of Magna International, said Seetarama is the right leader to take the company forward.
“Swamy has a strong command of the business, sound judgment, and is a strategic thinker who can drive disciplined execution.
“I’ve been impressed by Swamy’s ability to inspire people to think innovatively and deliver their best work to benefit Magna’s customers,” he concluded.
Magna said the appointment forms part of its leadership development and succession plan, which has facilitated the transition of 10 senior leadership figures over the last three years.
Magna International (MG) is currently up 2.26 per cent to C$72.30 per share at 10:42am EDT.
