On June 13, join Management Executive in Residence Frank Stronach (CM), Founder and Honorary Chairman of Magna International Inc., for an illuminating discussion about economics, education, and empowerment.
Mr. Stronach built Magna into the world’s most diversified automotive parts supplier with more than 170,000 employees in 34 countries and sales of over US$40 billion. In 1971, he introduced his unique management philosophy known as Fair Enterprise—that is, predetermining the annual percentage of profits shared between employees, management, investors, and society. Mr. Stronach notes that when Magna employees participated in profit sharing, profits went up 40% in the first year, 100% in the second year, and 200% in the third. In this talk, Mr. Stronach will share his vision for advancing employee equity, and how universities are uniquely positioned to take up the challenges of developing the framework for an improved society. Join us for an illuminating discussion, open to all U of T faculty, staff, students, alumni, and community.