The Town of Aurora will remove Frank Stronach’s name from its recreation complex after the 93-year-old Canadian billionaire was found guilty of one count of sexual assault and one count of indecent assault at his trial last week.

“I strongly condemn sexual violence and recognize the profound and lasting impact it is has on survivors, their families and entire communities,” Tom Mrakas, mayor of the town located 50 kilometres north of Toronto, said in a statement Wednesday.

“Following discussions with Magna regarding facility naming rights, the town will remove the Stronach name from the Aurora Recreation Complex,” he said.

Stronach was found guilty of the two charges, related to two separate women, in a Toronto courtroom on June 19. He is also set to face another sexual assault trial next year.

The businessman made his fortune by founding auto-parts giant Magna International. His sentencing hearing is set for September.

Mrakas said the town will now begin the process of finding a new naming rights partner for its recreation facility.