Liberal MP Belinda Stronach said Wednesday that she is quitting politics to return to Magna International and intends to accept a position with the auto-parts company immediately.

Stronach, 40, holds the federal seat in the Toronto-area riding of Newmarket-Aurora, but won't run for re-election and is going to step into the role of executive vice-chair in the company founded by her father, Frank Stronach.

Belinda Stronach, shown in 2006, said Wednesday that she is accepting the role of executive vice-chair at Magna International.
(Phil Hossack/Winnipeg Free Press/Canadian Press)

Stronach, who served as Magna's chief executive officer before entering politics several years ago, told CBC News Wednesday that her family approached her at Christmas to rejoin Magna.
 
"My father is looking to the future and he said, 'Look, would you consider coming back and playing an important role within the company? It's an important time,'" she said.

"So I thought long and hard about that and I decided that my commitment and responsibility to the family and to the company is an important one and that's why I'm making the decision at this point in time."

Her return to Magna comes at a time when the auto-parts giant is rumoured to be working on a multibillion-dollar bid for DaimlerChrysler's Chrysler division, perhaps in conjunction with one or more equity buyout partners.

Stronach also said she wanted to spend more time with her two children, adding "the heavy demands of public life on family time are real."

She will continue to represent the riding until a federal election is called.

"It has been an honour and privilege to serve the people from my community of Newmarket and Aurora, and I thank them again for having placed their trust in me."

Stronach said she informed Liberal Leader Stéphane Dion of her decision to leave politics and "take part in public life in a different way."

Dion said he was disappointed by Stronach's decision, but said he understands and hopes she will work with the Liberals in the backroom during the next election.

"I am pleased to hear that she will stay around to help in another role with the party," he said.  

Glamorous candidate for both sides

Stronach left Magna to enter the leadership race for the newly merged federal Conservatives, but lost to Stephen Harper in March 2004.

She won a seat in the 2004 parliamentary election, defeating Liberal candidate Martha Hall-Findlay by two percentage points.

In May 2005, Stronach made a highly-criticized floor-crossing to join the Liberals and sit in then Liberal Prime Minister Paul Martin's cabinet as minister of human resources and skills development.

Her former opponent, Hall-Findlay, stepped aside in the following election campaign so that Stronach could run as a Liberal in the riding.

Stronach's personal life garnered as much attention as her political moves, including a public split from Conservative MP Peter MacKay after her floor-crossing.

"I wish her well," MacKay said Wednesday in Vancouver after Stronach made the announcement.

As well, during acrimonious divorce proceedings, the wife of former Toronto Maple Leafs player Tie Domi alleged that Stronach had an affair with her husband.

In her only public comments on the matter, Stronach told CBC's The Hour last fall "nobody can break up a happy marriage."

Departure not likely to surprise Ottawa

Stronach's departure from politics didn't come as a surprise to observers in Ottawa — but is another blow to the Liberals amid ample talk of a looming election call, the CBC's Susan Bonner reported.

"She hasn't been around as much," Bonner told CBC Newsworld.

"This woman is a celebrity politician in the way people treat her, but she never held a major role in the Liberal caucus."

Stronach is the latest in a series of Liberal MPs who have announced they won't run in the next campaign, which could start within weeks.

So far, the list of those not seeking re-election includes:

• Former prime minister Martin, the longtime member for Montreal's LaSalle-Émard riding.
• Former defence minister and interim Liberal leader Bill Graham, who represents Toronto Centre. 
• Former trade minister Jim Peterson, who holds the Toronto-area riding of Willowdale.
• Deputy House leader Lucienne Robillard, who represents the Montreal riding of Westmount.
• Former solicitor general Andy Scott, the longtime member for Fredericton.

Other MPs not running again are Jean Lapierre from the Quebec riding of Outremont and Bill Matthews from the Newfoundland riding of Random-Burin-St. George.