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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 FORNomineeVotes FOR
Peter G. Bowie99.05%Mary Lou Maher99.64%
Mary S. Chan99.38%William A. Ruh95.29%
Hon. V. Peter Harder99.08%Dr. Indira V. Samarasekera87.97%
Jan R. Hauser99.64%Matthew Tsien99.74%
Seetarama S. Kotagiri (CEO)99.65%Dr. Thomas Weber99.66%
Jay K. Kunkel99.74%Lisa S. Westlake95.15%
Robert F. MacLellan99.43% 

b.         Other Items of Business


Votes FOR 
Reappointment of Deloitte99.58% 
Say on Pay77.22% 

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”


ResolutionVotes ForVotes Withheld/Against




Elect Peter G. Bowie as Director215,838,83799.052,079,0340.95
Elect Mary S. Chan as Director216,558,28299.381,359,5890.62
Elect Hon. V. Peter Harder as Director215,918,60099.081,999,2710.92
Elect Jan R. Hauser as Director217,128,75599.64789,1160.36
Elect Seetarama S. Kotagiri (CEO) as Director217,162,15199.65755,7200.35
Elect Jay K. Kunkel as Director217,347,72999.74570,1420.26
Elect Robert F. MacLellan as Director216,686,40999.431,231,4620.57
Elect Mary Lou Maher as Director217,125,34699.64792,5250.36
Elect William A. Ruh as Director207,655,38895.2910,262,4834.71
Elect Dr. Indira V. Samarasekera as Director191,705,98087.9726,211,89112.03
Elect Matthew Tsien as Director217,356,50099.74561,3710.26
Elect Dr. Thomas Weber as Director217,169,04199.66748,8300.34
Elect Lisa S. Westlake as Director207,339,29695.1510,578,5754.85
Re-Appointment of Deloitte LLP as Auditor225,599,04299.58959,4070.42
Advisory Resolution on Executive Compensation168,271,36877.2249,646,50322.78


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