Belinda won't run

Belinda Stronach just announced she won’t seek re-election.

BELINDA STRONACH TAKES ON NEW CHALLENGES

PRESS RELEASE (For Immediate Release)

Wednesday, April 11, 2007

AURORA, ONTARIO — The Honourable Belinda Stronach, Member of Parliament for Newmarket and Aurora, today announced that she would assume the position of Executive Vice-Chair of Magna International Inc. effective immediately, and simultaneously, she will not stand for re-election as a Member of Parliament in the next federal election.

“I am always assessing the best role I can play in public life, and, after being encouraged by members of the corporate leadership at Magna to return, I have decided that the timing of my return to the business should not be delayed. My father is looking to the future, the company is facing important strategic decisions, and the Canadian and global auto sector and economy is in a period of great challenge,” said Belinda Stronach. “So I am stepping aside from elected politics for the time being and will now take part in public life in a different way.”

“There are other considerations behind my decision that are important to me. The heavy demands of public life on family time are real, and as a mother I want to spend some more time with my kids” added Stronach. “And I remain concerned with the issue of global security for the coming decades, and will continue to work towards ending extreme poverty and disease in Africa. I will be involved increasingly in this work through such initiatives as www.spreadthenet.org and through the creation of a personal foundation.”    

 “It has been an honour and privilege to serve the people from my community of Newmarket and Aurora and I thank them again for having placed their trust in me.

 I will continue to represent the interests of the constituents I serve until such time as a federal election is called.  I also plan to continue to play an active role in the community,” emphasized Stronach.

Belinda Stronach noted that she had informed The Honourable Stéphane Dion, Leader of the Liberal Party of Canada and Senator Marie-P.Poulin, President of the Liberal Party of Canada, of her decision earlier today. She affirmed her interest in continuing to play an active and constructive role in the growth of the Liberal Party in areas like the recruitment of women into politics, fundraising and the modernization of the Liberal Party, including one member, one vote.

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Magna International just put out the following release:

 AURORA, ON, April 11 /CNW/ – Magna International Inc. (TSE:MG.A, MG.B; NYSE:MGA. Following the announcement earlier today by Belinda Stronach, the current Federal Member of Parliament for Aurora and Newmarket, that she will not be standing for re-election as a Member of Parliament in the next federal
election, Ed Lumley, Magna's Lead Director commented that: “Our Board of Directors welcomes Belinda rejoining the Magna executive management team as Executive Vice-Chairman. She has extensive experience in the auto industry, has gained national and international exposure as a Minister while in
Government and will bring an unparallelled understanding of Magna's unique corporate culture which has been the major contributor to Magna's historical success. As such she will be in a special position to balance the needs of all Magna stakeholders, including shareholders, employees and customers.”

Co-Chief Executive Officers, Don Walker and Siegfried Wolf, stated that:

“Belinda will play an important role and make a valuable contribution to Magna's ongoing success in the challenging auto industry, particularly in terms of long term strategic planning and related policy decisions,
international relationships, public relations, social responsibility and employee and labour relations. Her continuing interest and experience in education and job skills training will also contribute to Magna's future global competitive success.”