Sept 11 - Canadian auto parts supplier Magna

International ( MGA ) said on Thursday it had appointed Philip

D. Fracassa as its new Chief Financial Officer, with Patrick

McCann stepping down from the post.

The new appointment comes at a time when Magna has been

implementing cost-cutting measures, including reduced capital

and engineering spending, to cushion the hit from the sweeping

tariffs levied by U.S. President Donald Trump on auto companies.

Fracassa joins Magna after 20 years at bearings and

industrial motion products maker The Timken Company ( TKR ),

where he became CFO in 2014.

He brings automotive and industrial sector experience

through his prior roles at Visteon ( VC ), General Motors ( GM )

and PricewaterhouseCoopers, Magna said.

"His deep experience in corporate finance, strategic

planning and capital deployment will be instrumental as Magna

builds on its strong first-half performance and delivers on its

full-year outlook disclosed in August," the company said in a

statement on Thursday.

Magna last month raised its annual sales forecast,

benefiting from its cost-cutting measures.