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
[email protected] │ 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Vice-President, Corporate Communications & PR
[email protected] │ 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.
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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 - 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 |
