Frank Stronach's Secret? Call It Empower SteeringWilliam C. Symonds
The hardest part of breaking into the European market, says Frank Stronach, chairman of Canadian auto-parts giant Magna International Inc., is attracting top management. So he's offering a lure unheard-of in central Europe: homes in a luxurious golf-course development, built on the grounds of a 400-year-old castle in Oberwaltersdorf, Austria. The castle, which Stronach bought last year, is now part of Magna's European headquarters. When the residences are finished, managers "will be able to bike home for lunch," promises Robert Gruber, Magna's European finance director.
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