Don Walker

Magna says Stronach payouts end this year after $52 million in consulting fees in 2013

3:52 pm U.S. ET | April 7, 2014
Canadian auto supplier Magna International paid $52 million in consulting fees to billionaire founder Frank Stronach in 2013, but the company is stressing that his compensation will stop at the end of this year.... Read More »

 

Magna's Q4 net income jumps 31%

12:51 pm U.S. ET | March 3, 2014
Magna International said its fourth-quarter profit jumped 31 percent, driven by a pickup in North America and Europe, and hiked its dividend. Net income attributable to the company rose to $458 million in the fourth quarter, from $351 million a year earlier, the company said in a statement.... Read More »

 

Magna forms Chinese joint venture to produce front-end modules

Feb. 18, 2014 12:47 CET
Magna has created a joint venture with Chongqing Guangneng Rongneng Trim to produce front-end modules for automakers in China.... Read More »

 

GM squeezes its suppliers -- gently

12:01 am U.S. ET | Feb. 17, 2014
General Motors is counting on reducing supply and logistics costs as the next phase in their bid to match competitors in profitability.... Read More »

 

GM rolls back contentious terms in purchasing contract

8:00 am U.S. ET | Feb. 11, 2014
GM is rolling back controversial changes it made last year to its purchasing contract, including new terms that some suppliers believed exposed them to greater warranty liability. GM in July rolled out the biggest overhaul to its supplier contract framework in 20 years.... Read More »

 

Magna will grow, but not via PSA's Faurecia stake, CEO says

Nov. 22, 2013 11:11 CET
Magna International has the balance sheet and cash flow to support growth, but won't bid for PSA's stake in supplier Faurecia, said Don Walker, the company's CEO.... Read More »

 

Magna expects China sales to quadruple by 2020

Oct. 30, 2013 11:55 CET
Canadian supplier Magna aims to generate $4 billion (24.35 billion yuan) in sales in China by 2020, more than four times the revenue expected for this year.... Read More »

 

Magna CEO Walker: Engineering expertise can help cut weight

April 19, 2013 06:01 CET
Magna International plans to use its expertise in body engineering to help automakers cut vehicle weight, CEO Don Walker says.... Read More »

 

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