Today, Rivian (NASDAQ:RIVN) Automotive Inc. (NASDAQ:RIVN) announced the results of its Annual Meeting of Stockholders held earlier this week on Monday, where key decisions regarding the company's governance were made. The electric vehicle manufacturer reported that the stockholders approved all the items on the ballot, including the election of directors and ratification of the company's independent auditor.
The stockholders elected two Class III directors, Jay Flatley and John Krafcik, to serve on the board until the 2027 annual meeting. Flatley received a total of 494,189,161 votes in favor, while Krafcik secured 501,893,413 votes for, indicating strong stockholder support.
Additionally, the appointment of KPMG LLP as Rivian's independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified with an overwhelming majority of 750,256,500 votes in favor.
The meeting also saw the approval of the compensation of Rivian's named executive officers on an advisory basis, with 477,970,313 votes supporting the current compensation structure.
These decisions were made with a significant turnout, as approximately 71.71% of the combined voting power of the company's Class A and Class B common stock as of the record date was represented at the meeting.
The voting outcomes are a crucial aspect of Rivian's corporate governance, ensuring that the company's strategic direction and financial oversight remain aligned with stockholders' interests. The information for this article is based on a press release statement.
In other recent news, Fisker Inc. (OTC:FSRNQ), an electric vehicle startup, has filed for bankruptcy protection due to various challenges including slow sales and supply chain issues. Meanwhile, Rivian Automotive Inc. has announced the launch of its second-generation R1S SUV and R1T pickup truck with improved hardware and a redesigned software experience. The company also plans to produce smaller, less expensive R2 SUVs and R3 crossovers, targeting the start of production for the first half of 2026.
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