Definition of 'Herbert Demel'
A CEO who has served in numerous high-level executive positions, including executive vice-president and president of auto parts company Magna International's China, India, South East Asia, South America and Africa divisions.
Demel also served as CEO of Italian automaker Fiat, one of the largest automakers in the world, from November, 2003 to June, 2005. When he took over Fiat, it was suffering from debt, poor organization and a poor business model. He restructured the company's management to begin addressing these problems.
Investopedia explains 'Herbert Demel'
Demel earned his Ph.D. from the Technical University of Vienna, and began his lifelong automotive career at the Institute for Combustion Engines and Automotive Engineering. He also worked for Robert Bosch, Audi, Volkswagen and Magna Steyr.