Magna eyes outsider for new president: Belinda Stronach cuts all ties to firm

Article Abstract:

Founder and chairman of Magna International Inc., Frank Stronach, is expecting to find a new president who would be chosen from outside current management ranks. Belinda Stronach's announced that she has ended all management and operating relation with the company by resigning as president, chief executive officer and director of Magna, as well as from the boards of Magna subsidiaries Decoma International Inc., Intier Automotive Inc. and Tesma International Inc.

Appointments, resignations and dismissals, Stronach, Belinda

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Stronach confirms Magna eyeing Chrysler

Article Abstract:

The decision of auto parts manufacturing firm Magna International Inc. to participate in the take-over bid for Chrysler Group, as announced by its founder Frank Stronach, is discussed.

Motor vehicles and car bodies, Acquisitions & mergers, Management dynamics, United States, Management, Mergers, acquisitions and divestments, Company acquisition/merger, Automobile industry, Company business management, Chrysler L.L.C., Stronach, Frank

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