Magna Announces 2020 Annual Meeting Results
AURORA, Ontario, May 07, 2020 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2020 annual meeting of shareholders held on May 7, 2020. A total of 232,304,632 Common Shares or 77.71% 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 | ||
| Scott B. Bonham | 98.59 | % | Cynthia A. Niekamp | 99.77 | % |
| Peter G. Bowie | 99.92 | % | William A. Ruh | 99.91 | % |
| Mary S. Chan | 99.81 | % | Dr. Indira V. Samarasekera | 98.51 | % |
| Hon. V. Peter Harder | 99.33 | % | Donald J. Walker | 99.92 | % |
| Dr. Kurt J. Lauk | 99.90 | % | Lisa S. Westlake | 99.15 | % |
| Robert F. MacLellan | 99.89 | % | William L. Young | 97.59 | % |
b. Other Items of Business
| Item | Votes FOR | |
| Reappointment of Deloitte | 99.83 | % |
| Say on Pay | 85.63 | % |
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
│ 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
│ 248.631.5396
OUR BUSINESS (1)
We are a mobility technology company. We have over 159,000 entrepreneurial-minded employees, 347 manufacturing operations and 94 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit .
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(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.
Appendix “A”
VOTING RESULTS - 2020 ANNUAL MEETING OF SHAREHOLDERS
| Resolution | Votes For | Votes Withheld/Against | ||
| # | % | # | % | |
| Elect Scott B. Bonham as Director | 222,562,426 | 98.59 | 3,183,326 | 1.41 |
| Elect Peter G. Bowie as Director | 225,556,317 | 99.92 | 189,435 | 0.08 |
| Elect Mary S. Chan as Director | 225,326,617 | 99.81 | 419,135 | 0.19 |
| Elect Hon. V. Peter Harder as Director | 224,244,086 | 99.33 | 1,501,666 | 0.67 |
| Elect Dr. Kurt J. Lauk as Director | 225,508,920 | 99.90 | 236,832 | 0.10 |
| Elect Robert F. MacLellan as Director | 225,498,335 | 99.89 | 247,417 | 0.11 |
| Elect Cynthia A. Niekamp as Director | 225,221,854 | 99.77 | 523,898 | 0.23 |
| Elect William A. Ruh as Director | 225,539,171 | 99.91 | 206,581 | 0.09 |
| Elect Dr. Indira V. Samarasekera as Director | 222,376,774 | 98.51 | 3,368,978 | 1.49 |
| Elect Donald J. Walker as Director | 225,569,852 | 99.92 | 175,900 | 0.08 |
| Elect Lisa S. Westlake as Director | 223,837,310 | 99.15 | 1,908,442 | 0.85 |
| Elect William L. Young as Director | 220,298,753 | 97.59 | 5,446,999 | 2.41 |
| Re-Appointment of Deloitte LLP as Auditors | 231,915,970 | 99.83 | 388,662 | 0.17 |
| Advisory Resolution on Executive Compensation | 193,297,024 | 85.63 | 32,448,728 | 14.37 |
