Magna Announces 2021 Annual Meeting Results

·3 min read

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

Item

Votes FOR

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 CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com │ 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice-President, Corporate Communications & PR
tracy.fuerst@magna.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.

For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on Twitter @MagnaInt.

_____________________

(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.


Appendix “A”

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