Magna International conducting ‘targeted review’ of records as more charges laid against founder Frank Stronach
CTV
Magna International Inc. says it is conducting a “targeted review” of its records as its founder, Frank Stronach, is facing additional sexual assault charges.
Magna International Inc. says it is conducting a “targeted review” of its records as its founder, Frank Stronach, is facing additional sexual assault charges.
In a statement to CTV News on Thursday, the company revealed it initiated the review “in response to the Peel Police” and retained two external law firms to support the process.
So far, the review has uncovered one settlement involving a historical harassment allegation against the Canadian billionaire and Magna Entertainment Corp, which the company said has been publicly reported on.
“This review process is complicated with the passage of time (going back 40-50 years), but should relevant information be located, we will follow a strict protocol to respect the legal rights of all and cooperate with authorities,” Tracy Fuerst, the vice-president of corporate communications at Magna, said in a statement.
The company reiterated that the allegations against Stronach, who has had no affiliation with the Magna since relinquishing control in 2010 and stepping down as chairman in 2012, were “alarming” if proven true.
“We hold all, no matter their status inside or outside the company, to the highest standards and are steadfast in our commitment to fostering an environment where everyone feels respected, valued, and protected,” Fuerst said.
She added that the company would not be providing further comments out of respect for the criminal process and the privacy of the complainants.
