Magna International chief strategy officer Herbert Demel steps down

Magna International Inc. says that chief strategy officer Herbert Demel has stepped down.

The auto parts supplier said Demel, who will turn 60 later this year, requested the change “to have more time and freedom to pursue other interests.”

Demel was appointed to a professorship at the Technical University of Vienna earlier this year.

He joined Magna in 2002 and held a number of senior executive roles within the company, including president of Magna China, India, Southeast Asia and South America.

Magna has more than 300 manufacturing operations and 87 product development, engineering and sales centres around the world with 121,000 employees.