Magna Announces 2023 Annual Meeting Results
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Magna Announces 2023 Annual Meeting Results

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


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


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.

Louis Tonelli, Vice-President, Investor Relations  │  905.726.7035

Tracy Fuerst, Vice-President, Corporate Communications & PR  │  248.761.7004

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 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”


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


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