MGA - Magna Announces 2023 Annual Meeting Results

May, 11 2023 05:07 PM Magna International Inc.

AURORA, Ontario, May 11, 2023 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2023 annual meeting of shareholders held on May 11, 2023. A total of 226,558,449 Common Shares or 79.18% 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
99.05%
Mary Lou Maher
99.64%
Mary S. Chan
99.38%
William A. Ruh
95.29%
Hon. V. Peter Harder
99.08%
Dr. Indira V. Samarasekera
87.97%
Jan R. Hauser
99.64%
Matthew Tsien
99.74%
Seetarama S. Kotagiri (CEO)
99.65%
Dr. Thomas Weber
99.66%
Jay K. Kunkel
99.74%
Lisa S. Westlake
95.15%
Robert F. MacLellan
99.43%

b. Other Items of Business

Item

Votes FOR

Reappointment of Deloitte

99.58%

Say on Pay

77.22%

Based on the voting results, each of the 13 nominees was elected, and Deloitte reappointed as independent auditor, with a substantial majority. Additionally, Magna’s Say on pay resolution was approved by a significant majority of votes cast. 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 ? 248.761.7004

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 171,000 ⁽²⁾ employees and an organizational structure designed to innovate like a startup. With 65+ 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 341 manufacturing operations and 88 product development, engineering and sales centres spanning 29 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 include certain operations accounted for under the equity method.
⁽²⁾ Number of employees includes over 160,000 employees at our wholly owned or controlled entities and over 11,000 employees at certain operations accounted for under the equity method.

Appendix “A”

VOTING RESULTS - 2023 ANNUAL MEETING OF SHAREHOLDERS

Resolution
Votes For
Votes Withheld/Against
#
%
#
%
Elect Peter G. Bowie as Director
215,838,837
99.05
2,079,034
0.95
Elect Mary S. Chan as Director
216,558,282
99.38
1,359,589
0.62
Elect Hon. V. Peter Harder as Director
215,918,600
99.08
1,999,271
0.92
Elect Jan R. Hauser as Director
217,128,755
99.64
789,116
0.36
Elect Seetarama S. Kotagiri (CEO) as Director
217,162,151
99.65
755,720
0.35
Elect Jay K. Kunkel as Director
217,347,729
99.74
570,142
0.26
Elect Robert F. MacLellan as Director
216,686,409
99.43
1,231,462
0.57
Elect Mary Lou Maher as Director
217,125,346
99.64
792,525
0.36
Elect William A. Ruh as Director
207,655,388
95.29
10,262,483
4.71
Elect Dr. Indira V. Samarasekera as Director
191,705,980
87.97
26,211,891
12.03
Elect Matthew Tsien as Director
217,356,500
99.74
561,371
0.26
Elect Dr. Thomas Weber as Director
217,169,041
99.66
748,830
0.34
Elect Lisa S. Westlake as Director
207,339,296
95.15
10,578,575
4.85
Re-Appointment of Deloitte LLP as Auditor
225,599,042
99.58
959,407
0.42
Advisory Resolution on Executive Compensation
168,271,368
77.22
49,646,503
22.78

Company Name:	Magna International Inc.
Stock Symbol:	MGA
Market:	NYSE
Website:	magna.com