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Industry: Email Alert RSS FeedMagna Steyr will take time on CEO search.(News)(Brief Article)
Automotive News Europe, October, 2003
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Byline: Georg Auer
Magna Steyr will not hurry to replace CEO Herbert Demel when he leaves to run Fiat Auto, said Siegfried Wolf, vice chairman of Magna International.
Wolf said the Austrian contract vehicle assembling company's "very astute team" of five vice presidents can handle operations for now. Wolf will temporarily take over some of Demel's duties as Demel prepares to move to Fiat Auto November 15 (story, Page 1).
One of the vice presidents could succeed Demel at Magna Steyr, but Wolf said Magna also will look outside the company again.
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