DETROIT -- Magna International Inc. said today that Mark Hogan is stepping down as president of the supplier at the end of the year to pursue other opportunities.
Hogan, 56, took the post just over three years ago after 30 years at General Motors. He finished his GM career in 2004 as group vice president of advanced vehicle development.
A statement released by Magna did not detail Hogans plans.
Hogan was known for increasing Magnas visibility in the auto industry and often was the public face of the company.
Hogan also was Magnas face to the domestic automakers, especially the Detroit 3. He was Magnas point man in efforts to bring Magnas European full vehicle assembly concept to North America. Magna has not yet announced such an operation for North America.
Hogan also was responsible for increasing sales with Asian companies. His target was to grow Magnas Asian auto maker business to 10 percent to 15 percent of its total sales.
That responsibility now goes to Jim Tobin, who was appointed Friday as executive vice-president of business development for Magna and president of Magna Asia.
Tobin has been with Magna for five years as executive vice president of sales and marketing at its Cosma International unit.
Hogan joined Magna after company chairman Frank Stronach encouraged him to leave GM. Stronach's daughter, Belinda Stronach had quit her senior executive post at Magna to pursue a career in politics. She has since returned to Magna.
As is keeping with Magna executives, Hogan's pay was a relatively modest $110,500 last year, but his bonus was $3.2 million. He also obtained restricted share units worth $9 million when he joined Magna in 2004.
It has been a privilege to serve as Magna's president and helping lead this great company as it celebrates 50 years of growth and success, Hogan said in the statement. I am looking forward to both the opportunities and the challenges the future holds, and I wish Magna continued success.
Stronach and the companys co-CEOs, Don Walker and Siegfried Wolf, said in a joint statement:
We thank Mark for his contributions to Magna over the past three years, particularly in building Magna's presence in the Asia-Pacific region and in strengthening our relationships with the Asian-based OEMs, and we wish him well in the future.
Magna, of Aurora, Ontario, ranks No. 4 on the Automotive News list of the top 100 global suppliers, with worldwide parts sales to the automakers of $23.88 billion in 2006.
Robert Sherefkin contributed to this report