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Magna (TSX: MG; NYSE: MGA) announced today the appointment of Philip D. Fracassa as Executive Vice-President and Chief Financial Officer (CFO), effective immediately. He succeeds Patrick McCann, who will step down after more than 26 years with Magna. To support a “seamless transition,” McCann will remain in an advisory role until the end of February 2026.*
“I would like to extend my gratitude to Pat for his significant contributions and partnership, particularly during a dynamic period in the global economy and our industry,” said Swamy Kotagiri, Magna President and Chief Executive Officer. “On behalf of the entire Magna team, we wish him the very best in his future endeavors.”
“Phil is a seasoned financial leader with a strong track record of delivering results and driving transformation,” said Kotagiri. “His experience and perspective will be invaluable as we continue executing our strategy and advancing Magna’s financial position. I am looking forward to partnering with Phil on our continued journey,” said Kotagiri.**
“Fracassa’s appointment aligns with Magna’s strategy to drive sustainable shareholder value through operational excellence, financial discipline, and efficient capital allocation. His deep experience in corporate finance, strategic planning, and capital deployment will be instrumental as Magna builds on its strong first-half performance and delivers on its full-year outlook disclosed in August,” Magna said.
Fracassa joins Magna after 20 years at The Timken Company (NYSE: TKR), where he served as Executive Vice-President and CFO since 2014. “During his tenure, he played a central role in developing and executing Timken’s strategy to drive profitable growth and improve returns. He brings extensive automotive and industrial sector experience across various functional areas, including tax, treasury, controlling, and corporate planning through his prior roles at Timken, Visteon Corporation, General Motors, and Price Waterhouse,” Magna said.
Fracassa holds a bachelor’s degree in accounting and a juris doctor degree in law from the University of Detroit Mercy. He is a registered certified public accountant and licensed attorney in Michigan and completed the Advanced Management Program at INSEAD in France.
“I’m honored to join Magna and thrilled about the opportunity to contribute to the company’s continued growth and success,” said Fracassa. “Magna’s reputation for innovation, operational excellence, and global reach is unmatched. I look forward to partnering with our talented team to help drive performance and create long-term value.”
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Magna Names Philip D. Fracassa CFO
Click for more.
Magna (TSX: MG; NYSE: MGA) announced today the appointment of Philip D. Fracassa as Executive Vice-President and Chief Financial Officer (CFO), effective immediately. He succeeds Patrick McCann, who will step down after more than 26 years with Magna. To support a “seamless transition,” McCann will remain in an advisory role until the end of February 2026.*
“I would like to extend my gratitude to Pat for his significant contributions and partnership, particularly during a dynamic period in the global economy and our industry,” said Swamy Kotagiri, Magna President and Chief Executive Officer. “On behalf of the entire Magna team, we wish him the very best in his future endeavors.”
“Phil is a seasoned financial leader with a strong track record of delivering results and driving transformation,” said Kotagiri. “His experience and perspective will be invaluable as we continue executing our strategy and advancing Magna’s financial position. I am looking forward to partnering with Phil on our continued journey,” said Kotagiri.**
“Fracassa’s appointment aligns with Magna’s strategy to drive sustainable shareholder value through operational excellence, financial discipline, and efficient capital allocation. His deep experience in corporate finance, strategic planning, and capital deployment will be instrumental as Magna builds on its strong first-half performance and delivers on its full-year outlook disclosed in August,” Magna said.
Fracassa joins Magna after 20 years at The Timken Company (NYSE: TKR), where he served as Executive Vice-President and CFO since 2014. “During his tenure, he played a central role in developing and executing Timken’s strategy to drive profitable growth and improve returns. He brings extensive automotive and industrial sector experience across various functional areas, including tax, treasury, controlling, and corporate planning through his prior roles at Timken, Visteon Corporation, General Motors, and Price Waterhouse,” Magna said.
Fracassa holds a bachelor’s degree in accounting and a juris doctor degree in law from the University of Detroit Mercy. He is a registered certified public accountant and licensed attorney in Michigan and completed the Advanced Management Program at INSEAD in France.
“I’m honored to join Magna and thrilled about the opportunity to contribute to the company’s continued growth and success,” said Fracassa. “Magna’s reputation for innovation, operational excellence, and global reach is unmatched. I look forward to partnering with our talented team to help drive performance and create long-term value.”
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.