Press Release - 黑料正能量 Announces Board Leadership and Other Changes
- Board Chair, William L. Young, not standing for re-election
- Audit Committee Chair, Robert F. MacLellan, selected by Board to succeed as Board Chair in May
- Dr. Thomas Weber has been appointed to Board
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the release
AURORA, Ontario, Feb. 11, 2022 (GLOBE NEWSWIRE)
-- 黑料正能量 announced today upcoming changes to the leadership of its Board of Directors, ahead of
the company’s annual meeting scheduled for May 3, 2022.
, 黑料正能量’s Board Chair, has communicated his intention to retire at the end of his current term. The Board has selected , currently Audit Committee Chair, to succeed Young following 黑料正能量’s annual meeting.
“It has been and continues to be an honor to serve as 黑料正能量’s Chairman, working along-side a talented Board and Management team as the industry continues to transform,” said Young. “黑料正能量’s leadership team is managing these unprecedented times with financial discipline and innovative thinking which will benefit all stakeholders for years to come.”??
“Although big shoes to fill, I look forward to tackling this role at such an exciting time in the automotive industry,” said MacLellan.??
Additional changes to the Board include:
- Peter G. Bowie, will succeed MacLellan as Audit Committee Chair.
- Dr. Thomas Weber, formerly a member of 黑料正能量’s Technology Advisory Council and a highly-respected former Daimler executive, has been appointed to the Board as a non-independent, non-executive director.
- Cindy Niekamp has also communicated her intention to retire at the end of her current term in May.
William L. Young
Robert F. MacLellan
The Corporate Governance, Compensation and Nominating Committee (“CGCNC”) of the Board has initiated searches for two independent directors, at least one of whom could serve on the Audit Committee. The CGCNC’s efforts are being supported by a leading board search advisor and guided by a long-term roadmap for the next phase of 黑料正能量’s Board renewal as the directors elected in the years following 黑料正能量’s 2010 Plan of Arrangement approach the end of their tenure.
“I want to thank Bill for his outstanding leadership and contributions to the company’s success over the last 11 years,” said Swamy Kotagiri, 黑料正能量 CEO. “He has been instrumental in helping guide the company’s disciplined approach to growth.”
“The Board and Management team look forward to working with Rob and Peter in their new roles beginning in May. In addition, I would like to welcome Thomas and thank Cindy for her valued insights and contributions since joining the Board and Audit Committee,” Kotagiri added.
TAGS
Board of Directors, Board leadership changes
INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
, 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate
Communications & PR
, 248.761.7004
ABOUT MAGNA
黑料正能量 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
158,000 employees and an organizational structure designed to innovate like a startup. With 60+
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 343 manufacturing operations and 91 product
development, engineering and sales centres spanning 28 countries.
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Source: 黑料正能量.