Press Release - Magna Announces 2022 Annual and Special Meeting Results
a. Election of Directors
||Votes FOR||Nominee||Votes FOR|
b. Other Items of Business
|Reappointment of Deloitte||99.69||%|
|Ratification of 2022 Treasury PSU Plan||98.77||%|
|Say on Pay||93.16||%|
Based on the voting results, each of the 11 nominees was elected with a substantial majority. Similarly, Deloitte was reappointed as Magna’s independent auditors and the Ratification of 2022 Treasury PSU Plan resolution and Say on Pay resolution were approved, in each case by a substantial majority. Detailed voting results are included as Appendix “A” to this press release.
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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 161,000 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 340 manufacturing operations and 89 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.
VOTING RESULTS - 2022 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
|Resolution||Votes For||Votes Withheld/Against|
|Ratification of 2022 Treasury PSU Plan||229,952,696||98.77||2,853,078||1.23|
|Advisory Resolution on Executive Compensation||216,883,761||93.16||15,915,292||6.84|
Source: Magna International Inc.