00:35:06 EDT Wed 26 Mar 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 287,342,204
Close 2024-11-11 C$ 61.75
Market Cap C$ 17,743,381,097
Recent Sedar Documents

Globe says Magna, others see Sanctuary AI's Rose depart

2024-11-12 08:13 ET - In the News

Also In the News (C-CTC) Canadian Tire Corp Ltd
Also In the News (C-TSLA) Tesla Inc CDRs (CAD Hedged)

The Globe and Mail reports in its Tuesday, Nov. 12, edition that Geordie Rose, the co-founder of robotics company Sanctuary AI and one B.C.'s best-known technology entrepreneurs, is leaving his role as chief executive officer, marking the second high-profile leadership change this year at the Vancouver-based startup. The Globe's Joe Castaldo writes that Sanctuary did not explain the reasons for Mr. Rose's departure. Co-founder Suzanne Gildert also left Sancturary in April. Sanctuary announced a partnership earlier this year with Magna International to use its artificial intelligence robot in factories operated by the auto-parts manufacturer. It has also tested its robots with the clothing retailer Mark's, which is owned by Canadian Tire. Both Magna and Canadian Tire are investors, along with Export Development Canada, BDC Capital's Thrive Venture Fund and Ottawa's Strategic Innovation Fund. The company has raised $140-million, to date. Mr. Rose has a history as a serial entrepreneur and started quantum computing company DWave Systems in 1999. Along with Ms. Gildert, he launched robotics firm Kindred Systems in 2014. A number of other companies are developing humanoid robots alongside Sanctuary AI, including Tesla.

© 2025 Canjex Publishing Ltd. All rights reserved.