Belinda Stronach quits as Magna head, father back

Newswire

TORONTO, Jan 20 (Reuters) - Belinda Stronach, who is expected to announce her candidacy for the leadership of the Conservative Party on Tuesday, resigned as president and chief executive of auto-parts maker Magna International . Her father, Magna founder and chairman Frank Stronach, will become interim president until the company finds a permanent replacement. Belinda Stronach's resignation is effective immediately, Magna said in a statement. ($1=$1.30 Canadian)

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