Stronach Set to Return to Family Business

Following the announcement earlier today by Belinda Stronach, the current Federal Member of Parliament for Aurora and Newmarket, that she will not be standing for re-election as a Member of Parliament in the next federal election, Ed Lumley, Magna’s Lead Director commented that: “Our Board of Directors welcomes Belinda rejoining the Magna executive management team as Executive Vice-Chairman.
“She has extensive experience in the auto industry, has gained national and international exposure as a Minister while in Government and will bring an unparallelled understanding of Magna’s unique corporate culture which has been the major contributor to Magna’s historical success.
“As such she will be in a special position to balance the needs of all Magna stakeholders, including shareholders, employees and customers.”
Co-Chief Executive Officers, Don Walker and Siegfried Wolf, stated that: “Belinda will play an important role and make a valuable contribution to Magna’s ongoing success in the challenging auto industry, particularly in terms of long term strategic planning and related policy decisions, international relationships, public relations, social responsibility and employee and labour relations.
“Her continuing interest and experience in education and job skills training will also contribute to Magna’s future global competitive success.”
Magna is a highly diversified automotive supplier.
They design, develop and manufacture automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America and Africa.
Magna boasts approximately 83,000 employees in 229 manufacturing operations and 62 product development and engineering centers in 23 countries.