Magna's Board of Directors announced the appointment of Swamy Kotagiri as Magna's next Chief Executive Officer, effective January 1, 2021.

Kotagiri has been with Magna for more than 21 years and served in various product groups and corporate roles, spanning functions including engineering, operations and R&D. He contributed to the company's recent growth and evolution through his operational leadership and aligned the organization's strategy around the trends shaping future mobility.

"Our industry is increasingly high-tech, complex and changing. In our 60-year history, Magna has continued to evolve with it, and I am confident we will continue to do so," said Kotagiri. "How we look at and address the future of mobility will have far-reaching consequences, not just for people, but for society as a whole. My vision for the company is to continue advancing mobility for everyone and everything, while shaping a better future for all. Magna, our strong management team and our entrepreneurial-minded employees are up for the challenge."

Kotagiri was recently featured in Business Insider's 100 People Transforming Business, an annual list and series highlighting those across industries who are changing the way the world does business.