AURORA, Ontario, May 08, 2025 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2025 annual and special meeting of shareholders held on May 8, 2025. A total of 221,621,186 Common Shares or 78.66% 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 |
|
Mary S. Chan |
98.05% |
William A. Ruh |
88.30% |
|
Hon. V. Peter Harder |
98.56% |
Dr. Indira V. Samarasekera |
85.59% |
|
Jan R. Hauser |
99.48% |
Peter Sklar |
99.87% |
|
Seetarama S. Kotagiri (CEO) |
99.53% |
Matthew Tsien |
88.33% |
|
Jay K. Kunkel |
99.53% |
Dr. Thomas Weber |
99.02% |
|
Robert F. MacLellan |
99.12% |
Lisa S. Westlake |
88.33% |
|
Mary Lou Maher |
99.57% |
|
|
b. Other Items of Business
|
Item |
Votes FOR |
|
Reappointment of Deloitte |
99.06% |
|
Ratification of Stock Option Plan |
95.45% |
|
Say on Pay |
81.44% |
Based on the voting results, all 13 nominees were elected to the Board, Deloitte was reappointed as independent auditor, the 2025 Stock Option Plan was ratified 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.
Following the annual meeting, Magna’s Board confirmed:
-
Robert F. MacLellan as Board Chair;
-
Mary Lou Maher as Audit Committee Chair
-
Hon. V. Peter Harder as Governance, Nominating and Sustainability Committee Chair;
-
William A. Ruh as Technology Committee Chair; and
-
Dr. Indira V. Samarasekera as Talent Oversight and Compensation Committee Chair.
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
ABOUT MAGNA INTERNATIONAL
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of approximately 167,000(1) employees across 342 manufacturing operations and 103 product development, engineering and sales centres spanning 28 countries(2). With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape.
For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.
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(1) Number of employees includes approximately 155,000 employees at our wholly owned or controlled entities and over 12,000 employees at certain operations accounted for under the equity method.
(2) Manufacturing operations, product development, engineering and sales centres include certain operations accounted for under the equity method.
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Appendix “A” |
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VOTING RESULTS – 2025 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS |
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|
Resolution |
Votes For |
Votes Withheld/Against |
||
|
# |
% |
# |
% |
|
|
Elect Mary S. Chan as Director |
209,018,939 |
98.05% |
4,159,027 |
1.95% |
|
Elect Hon. V. Peter Harder as Director |
210,120,081 |
98.56% |
3,059,219 |
1.44% |
|
Elect Jan R. Hauser as Director |
212,077,567 |
99.48% |
1,101,734 |
0.52% |
|
Elect Seetarama S. Kotagiri (CEO) as Director |
212,174,381 |
99.53% |
1,004,920 |
0.47% |
|
Elect Jay K. Kunkel as Director |
212,169,825 |
99.53% |
1,009,477 |
0.47% |
|
Elect Robert F. MacLellan as Director |
211,303,211 |
99.12% |
1,876,060 |
0.88% |
|
Elect Mary Lou Maher as Director |
212,257,273 |
99.57% |
921,998 |
0.43% |
|
Elect William A. Ruh as Director |
188,240,636 |
88.30% |
24,938,565 |
11.70% |
|
Elect Dr. Indira V. Samarasekera as Director |
182,460,897 |
85.59% |
30,717,994 |
14.41% |
|
Elect Peter Sklar as Director |
212,893,103 |
99.87% |
285,712 |
0.13% |
|
Elect Matthew Tsien as Director |
188,302,364 |
88.33% |
24,876,868 |
11.67% |
|
Elect Dr. Thomas Weber as Director |
211,089,923 |
99.02% |
2,089,179 |
0.98% |
|
Elect Lisa S. Westlake as Director |
188,290,938 |
88.33% |
24,884,919 |
11.67% |
|
Re-Appointment of Deloitte LLP as Auditor |
219,528,061 |
99.06% |
2,090,531 |
0.94% |
|
Ratification of 2025 Stock Option Plan |
203,483,387 |
95.45% |
9,692,621 |
4.55% |
|
Advisory Resolution on Executive Compensation |
173,620,127 |
81.44% |
39,555,176 |
18.56% |