AURORA, ON, Dec. 21 /CNW/ - Magna International Inc. (TSX: MG; NYSE: MGA) announced today that Belinda Stronach will be resigning from her role
as Executive Vice-Chair and member of the Board of Directors, effective
December 31, 2010.
Stated Michael D. Harris, Lead Director, "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."
As previously disclosed, the Nominating Committee of Magna's Board is in
the process of reviewing the composition of the Board. The Nominating
Committee has retained Russell Reynolds Associates, an internationally
recognized firm, to assist in its search for potential future Board
members, including a director to fill the vacancy created by Ms.
We are the most diversified global automotive supplier. We design,
develop and manufacture technologically advanced systems, assemblies,
modules and components, and engineer and assemble complete vehicles,
primarily for sale to original equipment manufacturers ("OEMs") of cars
and light trucks. Our capabilities include the design, engineering,
testing and manufacture of automotive interior systems; seating
systems; closure systems; body and chassis systems; vision systems;
electronic systems; exterior systems; powertrain systems; roof systems;
hybrid and electric vehicles/systems as well as complete vehicle
engineering and assembly.
Magna has over 92,000 employees in 245 manufacturing operations and 80
product development, engineering and sales centers in 25 countries.
SOURCE Magna International Inc.
For further information:
Vince Galifi, Executive Vice-President and Chief Financial Officer at 905-726-7100