Stronach To Step Down Again?
According to a story in Friday’s edition of The Globe And Mail, the wheels of the starting gate are in motion for Frank Stronach to step down as chairman and chief executive officer of MI Developments Inc
Stronach will relinquish control of the company if shareholders approve the transfer of such entities as Gulfstream Park, Santa Anita Park and Golden Gate Fields. Stronach is also seeking shares of two tracks in Maryland, some real estate and electronic gambling assets.
Stronach, who gave up control of Magna International last year, is set to receive assets worth between $585 million and $730 million pending approval of the transfer.
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• Stronach Stepping Down