Walker’s career at Magna spans 33 years, with the last 15 as CEO, his second stint in the role. Kotagiri has more than 25 years of automotive industry experience, 21 of which have been with Magna. He becomes the sixth CEO in Magna's history dating back to 1957.
The supplier estimates the coronavirus crisis affected value-add revenue by $340 million in the quarter. The company said 75 percent of its plants and distribution centers worldwide are operating at various levels of production as of the first week in May, up from a low of 47 percent during the first week of April.