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Magna President and CEO Resigns, Expected to Run for Canada’s Conservative Party

Belinda Stronach, president and CEO of diversified automotive supplier Magna International, has resigned. According to recent news reports, Stronach is expected next week to announce her candidacy for the leadership of Canada’s Conservative Party. Her father, Magna Founder and Chairman Frank Stronach, has assumed the position of interim president.

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AURORA, Ontario — Belinda Stronach, president and CEO of diversified automotive supplier Magna International, has resigned. According to recent news reports, Stronach is expected next week to announce her candidacy for the leadership of Canada’s Conservative Party.

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Stronach has also resigned as a director of the company and as a director and chairman of Decoma International, Intier Automotive and Tesma International.

Her father, Magna Founder and Chairman Frank Stronach, has assumed the position of interim president. The company’s board of directors has established a special committee to conduct a search for Stronach’s replacement both inside and outside the company.

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