Canadian autoparts magnate Linda Hasenfratz named new Western University chancellor
The chief exec of Guelph-based Linamar Corporation is one of Canada's top paid CEOs
Western University has named Guelph autoparts magnate Linda Hasenfratz as its newest chancellor.
The CEO of Guelph-based autoparts maker Linamar Corportion will be installed as the school's 23rd Chancellor in a ceremony on Tuesday, October 22 2019.
Hasenfratz graduated from Western University with a bachelor's degree in science in 1989 and a masters of business in 1997.
A scion of industry, Hasenfratz began her career at Linamar in 1990 as a machine operator and over 12 years rose to become the company's CEO in 2002.
Today, the business she oversees is drastically different from the one her father founded in the basement of their family home in 1964.
Canada's highest earning female CEO
Hasenfratz oversees an international manufacturing empire, with 60 factories spanning 17 countries, making her one of the most powerful businesswomen in Canada.
She earned $14.6 million in total compensation last year, which is 260 times more than the average Canadian salary of $55,806.40, according to Statistics Canada.
Hasenfratz was the highest paid female CEO in Canada in 2018 and the 12th highest paid CEO overall that same year.
She has been named to the Canadian Business Hall of Fame and was a key advisor among a group of Canadian, American and Mexican business executives who advised government officials on improving the former NAFTA agreement for business.
The position of Western University chancellor is not a paid one and is mostly ceremonial.
As chancellor, Hasenfratz follows in the footsteps of other giants of Canadian politics and industry who have inhabited the position, such as former Ontario Premier John Robarts (1972 to 1976), former Ontario cabinet minister and Hydro One CEO Elanore Clitheroe (2000 to 2004) and Arthur Labatt, the great grandson of Canadian brewing legend John Labatt (2004 to 2008).