Commercial Metals Co (NYSE:CMC), a prominent player in the steel industry with a market capitalization of $5.8 billion, announced the outcomes of its annual meeting of stockholders, which took place on January 15, 2025.
According to InvestingPro data, the company maintains a strong financial health score and has demonstrated robust cash flow management. The company's shareholders voted on several significant matters, including the election of directors, the ratification of the company's independent auditor, and the approval of executive compensation.
During the annual meeting, three Class III directors were elected to serve until the 2028 annual meeting of stockholders. Lisa M. Barton received 88,432,214.23 votes in favor, with 9,162,270.04 votes against and 80,203 abstentions. Gary E. McCullough garnered 92,131,214.23 votes for, 5,438,041.04 against, and 105,432 abstentions. Charles L. Szews received 91,174,124.27 votes for, 6,395,617 against, and 104,946 abstentions. There were 7,107,235 broker non-votes for each director.
In addition to the director elections, shareholders ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending August 31, 2025. The decision was nearly unanimous, with 102,921,022.23 votes for, 1,774,861.04 against, and 86,039 abstentions.
The company also sought advisory approval on the compensation of its named executive officers as disclosed in the proxy statement. Shareholders voted in favor, with 94,810,469.22 supporting the executive compensation package, 2,643,878.05 votes against, and 220,340 abstentions, along with 7,107,235 broker non-votes.
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