Thoroughbred horse owner-breeder Frank Stronach could reassume his role as chief executive officer of auto-parts manufacturer Magna International if his daughter Belinda is elected to public office in Canada.
Former President Bill Clinton, among those packed into Pimlico's Turf Club on Preakness Day, predicted New York-bred Funny Cide, winner of the Kentucky Derby (gr. I), would also win the Visa Triple Crown's second jewel.
Belinda Stronach, the 34-year-old daughter of Magna International chairman Frank Stronach, has been named chief executive officer and vice chairwoman of the company. Magna International reported a 6% decline in fourth-quarter earnings from the year-earlier period. Revenue climbed 6%.