Belinda Stronach to leave Magna
Stronach, who is the daughter of company founder Frank Stronach, will also resign as the company's executive vice-chair. She assumed that role in April 2007 after announcing she would not seek re-election as a Liberal MP.
Stronach found herself in the midst of a political firestorm in 2005 when she crossed the floor to join the Liberals and become then prime minister Paul Martin's minister of human resources and skills development. In 2004, she had been elected as a Conservative in the Toronto-area riding of Newmarket-Aurora.
No reason was given Tuesday for her departure from Magna.
"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 a release from the board's lead director, Michael D. Harris.
Stronach served as Magna's CEO before entering politics.