Where is belinda stronach now

Entertainers Expand the sub menu. Moguls Expand the sub menu. Athletes Expand the sub menu. Showbiz Expand the sub menu. Locations Expand the sub menu. More Dirt Expand the sub menu. She has chaired the boards of Decoma International Inc.

She is a director of the Yves Landy Foundation, which furthers technological education and skills training in the manufacturing sector.

In February , she was appointed chief executive officer of Magna, succeeding Donald J. While CEO, the company added 3, jobs in Canada, 1, of them being in the Newmarket-Aurora area she would later represent in Parliament. Under Stronach's leadership, Magna had record sales and profits each year. Belinda is a Canadian businesswoman, philanthropist and former politician. Originally elected as a Conservative, she later crossed the floor to join the Liberals. After leaving politics, she served as executive vice-chairman of Magna International, Canada's largest automobile parts manufacturer until December 31, , and chair of The Belinda Stronach Foundation, a charitable organization she founded in to provide educational opportunities for young women and aboriginal youth, and to improve the lives of young people in developing nations.

She is also the Co-founder and Honorary Chair of Belinda's Place, York Region's first homeless women's shelter and serves on the boards of numerous national and international nonprofit organizations dedicated to finding innovative solutions to the challenges of poverty.

In , she was ranked 2 by Fortune Magazine in its annual list of the world's most powerful women in business, and named one of Canada's "Top 40 under 40," an annual awards competition that honours the country's top business innovators less than 40 years of age. Frank financed Team Stronach with funds from the Stronach Group. As a member of the legislature, Frank had to disclose his financial information. In , he resigned from all corporate positions at the Stronach Group, including his role as super-trustee of the family trust.

He appointed Belinda in his stead, giving her ultimate power over all decisions regarding the family coffers. Frank claims he requested them with a view to resuming his position as super-trustee if he ever wished to do so, and that all parties understood that the documents would become effective when he chose to reappoint himself.

Belinda and Ossip deny this was ever the case. Frank lasted just a few months on the backbenches of Austrian politics. I said what had to be said. He returned home in January and resumed work on Adena Farms, buying and selling Stronach Group assets, and expanding the business, which was sucking up vast amounts of money. He says he believed the reappointment documents had taken effect—and accuses Belinda and Ossip of knowingly deluding him into thinking he was still in power.

Instead of telling him he no longer had legal signing authority, Frank contends, they signed off on contracts he executed after the fact to preserve his delusion. He argues that Belinda and Ossip created a Truman Show —like world in which he was the boss, when they knew he had no legal authority and could be banished on a whim. Belinda and Ossip categorically deny participating in any deception. They say he had become increasingly unwilling to admit his passion projects were not financially viable, even when presented with incontrovertible proof.

He and Belinda agreed something radical had to be done. In December , Ossip informed Frank that the Stronach Group was facing significant liquidity issues and he would need to rein in spending on Adena. In the following weeks, Belinda pulled rank. She informed her father that his attempts to reappoint himself were ineffective.

He had no legal right to act in the name of the business, and if he did, she would undermine him. Belinda was torn. On one side was her father, the man who had given her everything. On the other was her CEO, who had become as indispensable to her as he had once been to Frank.

She attempted a compromise. She suspended Ossip, asking him to go on leave until the situation with Frank had cooled down. He agreed. The family managed to put their differences on hold and spend Christmas together that year.

In January, however, the feud resumed. Frank dated the reappointment documents and sent them to Belinda, informing her he had officially reappointed himself as a trustee. Belinda wrote back saying she would not allow him to take control of the family business. According to Belinda, Frank breached the terms of the ceasefire almost immediately by making plans that exceeded the budget.

Frank says he barely spent a cent. Then she took over Adena. She shuttered the failing golf club and put the land up for sale at a discount. She alleges that starting in the summer, her father repeatedly cornered her kids, pressuring them to sign documents reappointing him as trustee. Christmas came and went for the family, this time without Frank.

Instead, Belinda spent it with her kids and her mother, who was devastated by the family fallout. In August, Belinda presented a proposal to all family members for the division of family assets. She suggested splitting assets based on the current proportional equity interests in the family trust and the businesses the family members were most involved in.

Belinda and her kids would get the racing and gaming businesses, and Andrew, Selena and Elfriede would get the non-racing and non-gaming assets, including the agriculture group. In addition, there would be a large cash payout from Belinda to Andrew.

The proposal went unanswered by all family members. The Stronachs remained at a standoff, their guns pointed but no one willing to pull the trigger. And then Belinda sold the company jet—a luxury enjoyed by the entire family but primarily used by Frank. Several people suggested it was the jet sale, more than anything else, that prompted Frank to sue. As the sale was being finalized, Frank filed suit against Ossip, Belinda and her two children, seeking to regain control of the family empire.

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