Belinda Stronach leaving Magna
When Belinda Stronach left Parliament in 2007, she said, as many politicians have, it was to spend more time with her family. Except that her family includes her father, Frank Stronach, auto parts tycoon and owner of Magna International—and by “spend more time with,” she meant work for and be compensated far more handsomely than a mere MP. Well, times change, and Magna has changed quite a bit in the past few years, and the Stronach family is being eased out of the top spots in the company. The Magna board announced late yesterday that she would be leaving the company, according to the Toronto Star.
Aurora-based Magna said in a brief statement late Tuesday that Stronach will resign as executive vice-chair and a member of the board of directors at the end of the month.
Magna, one of the world’s biggest auto parts companies, did not give a reason for the move in the statement but offered Stronach thanks for her years of service.
“The board wishes to express our sincere and deep appreciation to Belinda for the valuable contribution she has made to Magna over many years and we wish Belinda every success in the future,” said lead director Mike Harris, a former Ontario premier.
Oh, so that’s what Mike Harris is up to these days, when he’s not showing up at Rob Ford’s victory party. We’ve always had a soft spot for Belinda Stronach, who handled her rather public breakup with Peter MacKay with far more dignity than MacKay’s embarrassing swings between moping and lashing out at her. The board of Magna, at least, is not expected to rent someone’s dog for a potato field photo-op.
• Belinda Stronach quits Magna [Toronto Star]
• Belinda Stronach resigns from board of Magna [CTV News]
• Belinda Stronach to leave Magna [CBC News]