AURORA, Ontario -- Magna International has announced that Belinda Stronach will be resigning from her role as executive vice chair and member of the board of directors, effective Dec. 31. 

Stated Michael Harris, lead director, "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."

In conjunction with her resignation, Magna’s board composition is currently being reviewed by the board’s nominating committee. The nominating committee has retained Russell Reynolds Associates, an internationally recognized firm, to assist in its search for potential future board members, including a director to fill the vacancy created by Stronach's resignation.