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Last updated on April 24, 2014 at 1:21 EDT

Magna announces 2012 annual meeting results

May 10, 2012

AURORA, ON, May 10, 2012 /PRNewswire/ - Magna International Inc. (TSX: MG, NYSE: MGA) announced voting results from its 2012 annual meeting of shareholders
held today. A total of 192,293,612 million Common Shares, or 82% of our
issued and outstanding Common Shares, were voted in connection with the
annual meeting. Shareholders voted in favour of all items of business,
including election of each director nominee by a substantial majority
as follows:


    Scott Bonham         99.33%

    Peter G. Bowie       99.33%

    Hon. J. Trevor Eyton 98.40%

    V. Peter Harder      97.36%

    Lady Barbara Judge   89.35%

    Kurt J. Lauk         99.73%

    Frank Stronach       79.94%

    Donald J. Walker     98.67%

    Lawrence D. Worrall  99.22%

    William Young        99.65%

Additionally, Magna’s advisory “say on pay” vote received 80% support. 
Full results of the votes are included as Appendix A to this press
release.

Immediately following the meeting, the independent directors elected at
the meeting selected William (Bill) Young as the new Board Chair and
approved the following committee appointments:

        --  Audit Committee:Lawrence Worrall (Chair), Peter Bowie and Dr.
            Kurt Lauk.
        --  Corporate Governance, Compensation and Nominating Committee:
            Bill Young (Chair), Trevor Eyton and Peter Harder. This
            Committee combines the respective oversight functions
            previously carried out separately by our Corporate Governance
            and Compensation Committee and our Nominating Committee.
        --  Enterprise Risk Management Committee: Lady Barbara Judge
            (Chair), Scott Bonham and Lawrence Worrall. This Committee will
            be responsible for oversight of our environmental, health and
            safety activities which were previously carried out by our
            Health and Safety and Environmental Committee, as well as our
            overall enterprise risk management activities.

In accordance with our Board Charter, each Committee of Magna’s Board is
composed solely of independent directors.  Committee Charters will be
updated in due course to reflect the above changes to the Committee
structure.

About Magna

We are the most diversified global automotive supplier.  We design,
develop and manufacture technologically advanced automotive systems,
assemblies, modules and components, and engineer and assemble complete
vehicles, primarily for sale to original equipment manufacturers of
cars and light trucks.  Our capabilities include the design,
engineering, testing and manufacture of automotive interior systems;
seating systems; closure systems; body and chassis systems; vision
systems; electronic systems; exterior systems; powertrain systems; roof
systems; hybrid and electric vehicles/systems; as well as complete
vehicle engineering and assembly.

We have over 111,000 employees in 294 manufacturing operations and 87
product development, engineering and sales centres in 26 countries.

APPENDIX A

VOTING RESULTS – 2012 ANNUAL MEETING OF SHAREHOLDERS

     ___________________________________________________________________
    |                  Resolution      |Vote Type*|    Voted  |Voted (%)|
    |__________________________________|__________|___________|_________|
    |Elect Scott Bonham as Director    |       For|186,805,447|    99.33|
    |                                  |  Withheld|  1,254,907|     0.67|
    |__________________________________|__________|___________|_________|
    |Elect Peter G. Bowie as Director  |       For|186,808,661|    99.33|
    |                                  |  Withheld|  1,251,694|     0.67|
    |__________________________________|__________|___________|_________|
    |Elect Hon. J. Trevor Eyton as     |       For|185,053,868|    98.40|
    |Director                          |  Withheld|  3,006,486|     1.60|
    |__________________________________|__________|___________|_________|
    |Elect V. Peter Harder as Director |       For|183,095,586|    97.36|
    |                                  |  Withheld|  4,964,768|     2.64|
    |__________________________________|__________|___________|_________|
    |Elect Lady Barbara Thomas Judge as|       For|168,039,419|    89.35|
    |Director                          |  Withheld| 20,020,935|    10.65|
    |__________________________________|__________|___________|_________|
    |Elect Kurt J. Lauk as Director    |       For|187,548,509|    99.73|
    |                                  |  Withheld|    511,845|     0.27|
    |__________________________________|__________|___________|_________|
    |Elect Frank Stronach as Director  |       For|150,327,030|    79.94|
    |                                  |  Withheld| 37,733,324|    20.06|
    |__________________________________|__________|___________|_________|
    |Elect Donald J. Walker as Director|       For|185,555,237|    98.67|
    |                                  |  Withheld|  2,505,117|     1.33|
    |__________________________________|__________|___________|_________|
    |Elect Lawrence D. Worrall as      |       For|186,592,975|    99.22|
    |Director                          |  Withheld|  1,467,380|     0.78|
    |__________________________________|__________|___________|_________|
    |Elect William Young as Director   |       For|187,395,596|    99.65|
    |                                  |  Withheld|    664,758|     0.35|
    |__________________________________|__________|___________|_________|
    |Appointment of Auditors           |       For|187,757,492|    97.64|
    |                                  |  Withheld|  4,536,120|     2.36|
    |__________________________________|__________|___________|_________|
    |Advisory Resolution on Approach to|       For|150,937,745|    80.26|
    |Executive Compensation            |   Against| 37,122,606|    19.74|
    |__________________________________|__________|___________|_________|

* No invalid proxies were submitted.

 

SOURCE Magna International Inc.


Source: PR Newswire