Magna CFO Patrick McCann to Step Down After 26 Years with Magna

Patrick McCann will step down from his role as CFO of Magna International after more than 26 years with the company. He has been serving as CFO since 2022. McCann previously worked at Cosma SA as Vice President from 2016 to 2019.

Magna International (NYSE: MGA), a global leader in automotive and mobility technology solutions, has announced the appointment of Philip D. Fracassa as Executive Vice President and Chief Financial Officer (CFO), effective immediately. Fracassa will succeed Patrick McCann, who has served as CFO since 2022 and will step down after more than 26 years with the company.

Philip Fracassa brings extensive financial experience to Magna, having held the CFO role at The Timken Company (NYSE: TKR) for over a decade. Prior to joining Timken, he served as Vice President at Cosma SA from 2016 to 2019. Fracassa's appointment follows the company's strong first-half performance and aligns with Magna's long-term strategy to build on its operational strengths and deliver on its full-year outlook disclosed in August Magna Intern Stock Price, News & Analysis^[1].

McCann's tenure at Magna spanned over two decades, during which he played a pivotal role in the company's financial management. His departure from the CFO position will not impact the continuity of Magna's financial operations, as Fracassa is expected to take over seamlessly.

The appointment of Philip Fracassa as CFO reflects Magna's commitment to maintaining a robust financial framework and ensuring the company's continued success in the competitive automotive industry. The company looks forward to Fracassa's leadership in driving financial performance and executing on its strategic objectives.

As of September 10, 2025, Magna International's stock price stands at $45.79, with a market capitalization of approximately $13.0 billion Magna Names Philip D. Fracassa Chief Financial Officer^[2].