AGM/EGMMay 5, 2026, 06:08 AM
Magna Announces Annual Meeting Results; All Directors Elected
AI Summary
Magna International Inc. announced the results of its 2026 annual meeting of shareholders, where all 12 director nominees were elected. Shareholders also approved the reappointment of Deloitte as the independent auditor and the advisory "Say on Pay" resolution, both by substantial majorities. Following the meeting, the Board confirmed key leadership positions and appointed new committee chairs due to a retirement.
Key Highlights
- Magna's 2026 Annual Meeting of Shareholders had 79.21% of common shares represented.
- All 12 director nominees were elected by substantial majorities.
- Deloitte was reappointed as independent auditor with 98.57% of votes FOR.
- The advisory "Say on Pay" resolution was approved with 89.66% of votes FOR.
- Robert F. MacLellan was confirmed as Board Chair.
- William A. Ruh was appointed Talent Oversight and Compensation Committee Chair.
- Matthew Tsien was appointed Technology Committee Chair.
Price Impact
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