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19-Sep-2020 13:25

Stronach's management of Magna International is the subject of controversy, with her father suing her for mismanagement. Stronach was born in Newmarket, Ontario, the daughter of Austrian parents, Elfriede Sallmutter and Magna International founder and chairman Frank Stronach, who was the former president and chief executive officer of the company.She graduated from Newmarket High School and attended York University in 1985, where she studied business and economics, but dropped out after one year to work at Magna. Stronach was a member of the board of directors of Magna from 1988 until 2004.

She has chaired the boards of Decoma International Inc., Tesma International Inc., and Intier Automotive Inc., all in the auto parts sector.While CEO, the company added 3,000 jobs in Canada, 1,000 of them being in the Newmarket-Aurora area she would later represent in Parliament.Under her leadership Magna had record sales and profits each year.In the early 2000s, Stronach was highlighted by the World Economic Forum and media outlets, like National Post and Fortune Magazine, as a promising future leader.

These projections failed to materialize, partially due to her loss after switching political parties.

The Stronach Group is an industry leader in pari-mutuel technology through its subsidiaries Am Tote and Xpressbet and is a major distributor of horse racing content to a global audience through Monarch Content Management.



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