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News of August 14, 2002


 


Dr. Herbert Demel to move from Volkswagen do Brasil to join Magna Steyr

Wolfsburg / Oberwaltersdorf - Dr. Herbert Demel, President of Volkswagen do Brasil, will move from the Volkswagen Group to join automotive supplier Magna Steyr, a subsidiary of the Canadian company Magna International, effective 1 October 2002.

Herbert Demel, 48, will be appointed President and CEO (Chief Executive Officer) at Magna Steyr, and will be responsible for pressing ahead with the continued internationalisation and expansion of the company. As one of the world's largest automotive engineering suppliers, Magna Steyr specialises in developing and producing complex systems and modules as well as total vehicle assembly for various OEMs.

Herbert Demel

Photo: VW

Belinda Stronach, President and CEO of Magna International, and Siegfried Wolf, Executive Vice-Chairman of Magna International, said: "As a team player and resolute manager, Dr. Demel brings competences of special value to Magna Steyr. He is the ideal candidate for this position."

Dr. Demel leaves the Volkswagen Group by amicable arrangement. Commenting on the move, Dr. Peter Hartz, Member of the Board of Management of Volkswagen AG responsible for Human Resources and the South America/South Africa Region, said: "The Volkswagen Group regrets Dr. Demel's decision and thanks him for many successful years in the service of the company. We wish him good luck for the future."

Since 1997, Demel has renewed production and product structures at Volkswagen do Brasil under extremely difficult market and economic conditions, asserting market leadership. During his time at Audi from 1990 to 1997, first as Head of Development and then as Chairman of the Board of Management, he was instrumental in bringing about the successful transformation of the Ingolstadt automobile manufacturer into a premium brand.

(August 02, 2002)

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