EON

Toronto (EON) - Belinda Stronach will not seek re-election in the next federal election in the riding of Newmarket-Aurora, according to media reports Wednesday.

In a press release issued early today, Stronach says she will become the Executive Vice-Chair of Magna effective immediately.

Stronach said that she had Liberal leader Stéphane Dion, and Senator Marie-P. Poulin, President of the Liberal Party of Canada, of her decision earlier today.

“I am always assessing the best role I can play in public life, and, after being encouraged by members of the corporate leadership atMagna 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 BelindaStronach. “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” addedStronach . “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.”

In recent months, Stronach has made headlines with her romantic ties with Foreign Affairs Minister Peter MacKay and former Toronto Maple Leafs player Tie Domi.