Post by
FrankInvests on Mar 14, 2021 3:03am
Magna's choice for leadership is the right one
In the twenty five years that I have been involved in the automotive industry, i have never seen such an overwhelming sense of urgency for rapid and dramatic change. The big players - both OE and Tier I - have been challenged not by one of their peers, but rather by the insane start ups that seem to defy the laws of automotive gravity. This is not a rant about Tesla - they are what they are. What i appreciate about Tesla, if nothing else, is that Tesla - and to a lesser extent the other massive tech giants - has forced the behemoths to quickly and dramatically reconsider their way of doing things.
One would think that a smaller Tier One might be able ot take advantage and pivot more easily than a larger one, but Magna seems to prove this wrong. The amount of forward thinking that Magna has demonstrated over the years it truly phenomenal. Whether it's by engaging in subcontract vehicle assembly or the development work in driverless systems work or lightweight frames or innovative seating technology... this Company is committed to innovation.
And in my view, Magna's biggest commitment to innovation was heralded by the Board's decision to elect Swamy as their ultimate steward. he fact that Swamy - a man steeped in the innovation efforts of Magna for years - was chosen to be the CEO says it all. If someone can figure out how to accelerate the cross-functional, cross-divisional thinking that is requried to invest and exploit in the true innvoation potential of the Company, it's Swamy.
Regardless of who takes the lead at the OE level, I am confident that Magna will continue to lead for the forseeable future at the Tier I level, especially with Swamy and the helm. I applaud the Board of Directors for such a competent election... and I look watching Swamy lead Magna into this critical decade of change.