News of August 14, 2002
Dr. Herbert Demel to move from Volkswagen do Brasil to join Magna Steyr
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)