Magna International : Press Release - Magna Announces 2017 Annual Meeting Results
May 11, 2017 at 03:17 pm EDT
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AURORA, ON, May 11, 2017 /CNW/ - Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2017 annual meeting of shareholders. A total of 277,209,607 Common Shares or 72.69% of our issued and outstanding Common Shares, were voted in connection with the meeting. Shareholders voted by a show of hands in favour of each item of business. Based on proxies received prior to the meeting and votes cast in person at the meeting, each director nominee was elected by a substantial majority as follows:
Nominee
Votes FOR
Scott B. Bonham
99.76%
Peter G. Bowie
99.72%
Lady Barbara Judge
97.97%
Dr. Kurt J. Lauk
99.83%
Cynthia A. Niekamp
99.82%
William A. Ruh
99.86%
Dr. Indira V. Samarasekera
98.77%
Donald J. Walker
99.87%
Lawrence D. Worrall
98.67%
William L. Young
98.71%
Additionally, Magna's advisory 'say on pay' vote received 92.19% support based on proxies received prior to the meeting and votes cast in person at the meeting. Full results of the votes are included as Appendix 'A' to this press release.
OUR BUSINESS We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems and have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.
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Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.
Appendix 'A'
VOTING RESULTS - 2017 ANNUAL MEETING OF SHAREHOLDERS
Resolution
Votes For
Votes Withheld/Against
#
%
#
%
Elect Scott B. Bonham as Director
258,195,412
99.76
614,135
0.24
Elect Peter G. Bowie as Director
258,075,876
99.72
733,670
0.28
Elect Lady Barbara Judge as Director
253,553,704
97.97
5,255,843
2.03
Elect Dr. Kurt J. Lauk as Director
258,370,214
99.83
439,332
0.17
Elect Cynthia A. Niekamp as Director
258,350,970
99.82
458,576
0.18
Elect William A. Ruh as Director
258,436,555
99.86
372,993
0.14
Elect Dr. Indira V. Samarasekera as Director
255,613,802
98.77
3,195,744
1.23
Elect Donald J. Walker as Director
258,481,919
99.87
327,565
0.13
Elect Lawrence D. Worrall as Director
255,373,016
98.67
3,436,531
1.33
Elect William L. Young as Director
255,479,889
98.71
3,329,659
1.29
Re-Appointment of Deloitte LLP as Auditors
276,184,420
99.63
1,022,261
0.37
Advisory Resolution on Approach to Executive Compensation
238,602,711
92.19
20,205,970
7.81
SOURCE Magna International Inc.
Magna International Inc. published this content on 11 May 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 May 2017 19:16:24 UTC.
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Magna International Inc. is a Canada-based global automotive supplier. The Company has complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting, and roof systems. Its Veoneer Active Safety provides sensor, software and systems engineering solutions to a range of customers. The Company's segments include Body Exteriors & Structures; Power & Vision; Seating Systems; and Complete Vehicles. Its Body Exteriors & Structures include body structures, chassis structures, exterior, energy storage systems and other. Its Power & Vision products include electrified powertrain technologies, powertrain subsystems and other. Its Complete Vehicles consist of complete vehicle engineering and complete vehicle manufacturing. The Company's global network includes 341 manufacturing operations and 88 product development.