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Magna Announces 2024 Annual Meeting Results

AURORA, Ontario, May 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2024 annual meeting of shareholders held on May 9, 2024. A total of 230,328,916 Common Shares or 80.18% 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
Mary S. Chan95.27%Mary Lou Maher98.16%
Hon. V. Peter Harder98.97%William A. Ruh96.46%
Jan R. Hauser99.73%Dr. Indira V. Samarasekera89.07%
Seetarama S. Kotagiri (CEO)99.54%Matthew Tsien96.22%
Jay K. Kunkel99.83%Dr. Thomas Weber95.08%
Robert F. MacLellan97.63%Lisa S. Westlake95.29%

b.  Other Items of Business

Votes FOR
Reappointment of Deloitte99.65%
Say on Pay85.36%

Based on the voting results, all 12 nominees were re-elected to the Board, Deloitte was reappointed as independent auditor, 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;
  • 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.

Additionally, the Board appointed Mary Lou Maher as Audit Committee Chair.

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 built to innovate, with a global, entrepreneurial-minded team of 179,000(2) employees across 343 manufacturing operations and 105 product development, engineering and sales centres spanning 28 countries. 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 or follow us on social.


(1) Manufacturing operations, product development, engineering and sales centres include certain operations accounted for under the equity method.

(2) Number of employees includes over 168,000 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 Mary S. Chan as Director210,757,00895.27%10,459,0724.73%
Elect Hon. V. Peter Harder as Director218,937,62898.97%2,278,4511.03%
Elect Jan R. Hauser as Director220,612,06099.73%604,0190.27%
Elect Seetarama S. Kotagiri (CEO) as Director220,191,58399.54%1,023,4970.46%
Elect Jay K. Kunkel as Director220,843,14899.83%372,9310.17%
Elect Robert F. MacLellan as Director215,972,30797.63%5,243,7722.37%
Elect Mary Lou Maher as Director217,156,63198.16%4,059,4481.84%
Elect William A. Ruh as Director213,392,73796.46%7,823,3423.54%
Elect Dr. Indira V. Samarasekera as Director197,029,15089.07%24,186,92810.93%
Elect Matthew Tsien as Director212,857,57196.22%8,358,0623.78%
Elect Dr. Thomas Weber as Director210,326,39695.08%10,889,6834.92%
Elect Lisa S. Westlake as Director210,793,22995.29%10,422,8504.71%
Re-Appointment of Deloitte LLP as Auditor229,513,18999.65%815,7270.35%
Advisory Resolution on Executive Compensation188,837,91185.36%32,377,92214.64%

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