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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Magna International Inc.    MG   CA5592224011

MAGNA INTERNATIONAL INC.

(MG)
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Magna International : CEO Don Walker to retire at end of 2020, Seetarama Kotagiri named as next CEO

10/20/2020 | 07:17am EST

AURORA, Ont.Magna International Inc. says Seetarama Kotagiri will become chief executive on Jan. 1, 2021, replacing Don Walker who will retire at the end of this year after a 33-year career at the auto parts company.

Walker served as Magna's chief executive between 1994 and 2001 before returning to the job in 2005.

During his time at Magna, Walker also worked as vice-president product development and engineering, chief operating officer and president, in addition to being chief executive of Intier Automotive Inc., one of Magna's former publicly traded subsidiaries, between 2001 and 2005.

Magna says Kotagiri, who is currently Magna's president, has more than 25 years of automotive industry experience including 21 years with the company.

Kotagiri has also been Magna’s chief technology officer and held several leadership positions including president of Magna Electronics, Magna Powertrain and the company’s power and vision segment.

Magna has 346 manufacturing operations and 93 product development, engineering and sales centres in 27 countries.

This report by The Canadian Press was first published Oct. 20, 2020.

Companies in this story: (TSX:MG)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (USD)
Sales 2020 32 007 M - -
Net income 2020 561 M - -
Net Debt 2020 3 379 M - -
P/E ratio 2020 32,0x
Yield 2020 2,51%
Capitalization 18 404 M 18 368 M -
EV / Sales 2020 0,68x
EV / Sales 2021 0,56x
Nbr of Employees 157 000
Free-Float 92,5%
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Technical analysis trends MAGNA INTERNATIONAL INC.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 59,13 $
Last Close Price 63,30 $
Spread / Highest target 17,2%
Spread / Average Target -6,58%
Spread / Lowest Target -29,0%
EPS Revisions
Managers
NameTitle
Donald J. Walker Chief Executive Officer & Director
Seetarama Kotagiri President & President-Power & Vision
Bill L. Young Chairman
Tommy J. Skudutis Chief Operating Officer & Executive VP
Vincent J. Galifi Chief Financial Officer & Executive Vice President
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