Magna names Philip Fracassa as CFO, succeeding Patrick McCann

Magna (MGA) announced the appointment of Philip Fracassa as Executive Vice-President and CFO, effective immediately. He succeeds Patrick McCann, who will step down following a distinguished career spanning more than 26 years with Magna. To support a seamless transition, McCann will remain in an advisory role until the end of February 2026. Fracassa joins Magna after 20 years at The Timken Company (TKR), where he served as Executive Vice-President and CFO since 2014.