Magna Announces 2021 Annual Meeting Results
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AURORA, Ontario, May 06, 2021 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2021 annual meeting of shareholders held on May 6, 2021. A total of 242,383,350 Common Shares or 80.43% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows:
a. Election of Directors
|Nominee||Votes FOR||Nominee||Votes FOR|
|Peter G. Bowie||99.81||%||Mary Lou Maher||99.77||%|
|Mary S. Chan||99.15||%||Cynthia A. Niekamp||99.93||%|
|Hon. V. Peter Harder||99.10||%||William A. Ruh||99.94||%|
|Seetarama S. Kotagiri (CEO)||99.77||%||Dr. Indira V. Samarasekera||98.13||%|
|Dr. Kurt J. Lauk||99.56||%||Lisa S. Westlake||99.12||%|
|Robert F. MacLellan||99.53||%||William L. Young||97.25||%|
b. Other Items of Business
|Reappointment of Deloitte||99.68||%|
|Say on Pay||93.33||%|
Based on the voting results, each of the 12 nominees was elected with a substantial majority. Similarly, Deloitte was reappointed as Magna’s independent auditors and the Say on Pay resolution was approved, in each case by a substantial majority. Detailed voting results are included as Appendix “A” to this press release.
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations firstname.lastname@example.org │ 905.726.7035
MEDIA CONTACT Tracy Fuerst, Vice-President, Corporate Communications & PR email@example.com │ 248.631.5396
OUR BUSINESS (1)Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 84 product development, engineering and sales centres spanning 28 countries.
(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.
VOTING RESULTS - 2021 ANNUAL MEETING OF SHAREHOLDERS
|Resolution||Votes For||Votes Withheld/Against|
|Elect Peter G. Bowie as Director||234,432,169||99.81||446,813||0.19|
|Elect Mary S. Chan as Director||232,881,599||99.15||1,997,383||0.85|
|Elect Hon. V. Peter Harder as Director||232,770,089||99.10||2,108,893||0.90|
|Elect Seetarama S. Kotagiri (CEO) as Director||234,347,744||99.77||531,238||0.23|
|Elect Dr. Kurt J. Lauk as Director||233,856,510||99.56||1,022,472||0.44|
|Elect Robert F. MacLellan as Director||233,763,588||99.53||1,115,394||0.47|
|Elect Mary Lou Maher as Director||234,334,991||99.77||543,991||0.23|
|Elect Cynthia A. Niekamp as Director||234,708,195||99.93||170,787||0.07|
|Elect William A. Ruh as Director||234,738,844||99.94||140,138||0.06|
|Elect Dr. Indira V. Samarasekera as Director||230,484,464||98.13||4,394,518||1.87|
|Elect Lisa S. Westlake as Director||232,821,581||99.12||2,057,401||0.88|
|Elect William L. Young as Director||228,420,696||97.25||6,458,286||2.75|
|Re-Appointment of Deloitte LLP as Auditors||241,597,269||99.68||786,081||0.32|
|Advisory Resolution on Executive Compensation||219,222,305||93.33||15,656,677||6.67|
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