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Belinda Stronach Bails Out Of Magna

Once seemed destined to run family firm.

by on Dec.22, 2010

Seemingly destined to run the family business, Belinda Stronach has decided to leave Magna.

One of the most powerful women in the Canadian auto industry has tendered her resignation leaving observers guessing whatcaused Belinda Stronach to leave Magna International – and where she might show up next.

The daughter of Magna founder Frank Stronach, she will resign from her role as Executive Vice-Chair and member of the Board of Directors, effective December 31, 2010.  Her move follows a settlement between the company and its founder, earlier this year, that saw Frank Stronach relinquish his control over most of the company he founded in a machine shop shortly after emigrating from Austria after the Second World War.

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