BRP Announces Election of Directors and Board Committee Composition

Rhea-AI Summary

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) held its annual meeting of shareholders virtually on June 3, 2021. During the meeting, it was announced that Joseph Robbins is leaving the Board of Directors after eight years of service. All nominees listed in the management proxy circular dated April 27, 2021, were elected, with Pierre Beaudoin receiving 95.10% of votes in favor. Key board committee changes included Charles Bombardier and Ernesto M. Hernández joining the Investment and Risk Committee. BRP continues to maintain a strong portfolio in powersports with annual sales exceeding CA$6 billion.

Positive

• All nominees for the Board of Directors were elected with significant support, indicating strong shareholder confidence.
• BRP maintains a robust annual sales figure of CA$6 billion, reflecting solid business performance.

Negative

• The departure of board member Joseph Robbins may create uncertainty in leadership continuity.

VALCOURT, QC, June 3, 2021 /PRNewswire/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) held earlier today its annual meeting of shareholders in a virtual-only format. The meeting was broadcasted via live webcast. The webcast will be available shortly on BRP's website at www.brp.com.  

During the meeting, the Company acknowledged the departure from the Board of Directors of Mr. Joseph Robbins and thanked him for his many years of contribution to the success of the Company. Mr. Robbins has sat on the Board of Directors of BRP from 2013 until now.

Otherwise, all of the nominees for directors listed in the Company's management proxy circular dated April 27, 2021 were elected by a majority of the votes cast by shareholders present or represented by proxy at the meeting. The voting result for each nominee is as follows:

Nominee	Votes For	%	Votes Withheld	%
Pierre Beaudoin	280,008,753	95.10%	14,418,619	4.90%
Joshua Bekenstein	272,038,054	92.40%	22,389,318	7.60%
José Boisjoli	291,512,122	99.01%	2,915,250	0.99%
Charles Bombardier	292,857,065	99.47%	1,570,307	0.53%
Michael Hanley	285,683,113	97.03%	8,744,259	2.97%
Ernesto M. Hernández	294,124,344	99.90%	303,028	0.10%
Katherine Kountze	294,334,979	99.97%	92,393	0.03%
Louis Laporte	292,860,807	99.47%	1,566,565	0.53%
Estelle Métayer	285,607,168	97.00%	8,820,204	3.00%
Nicholas Nomicos	285,646,812	97.02%	8,780,560	2.98%
Edward Philip	288,318,058	97.93%	6,109,314	2.07%
Barbara Samardzich	292,482,565	99.34%	1,944,807	0.66%

Board Committees

In December 2020, Mr. Charles Bombardier was appointed as a member of the Investment and Risk Committee to replace Mr. Nicholas Nomicos, Mr. Hernández was also appointed as a member of the Investment and Risk Committee and Ms. Kountze was appointed as a member of the Audit Committee. As a result of the foregoing changes, the composition of the Board committees is now as follows:

Directors	Audit Committee	Human Resources & Compensation Committee	Investment and Risk Committee	Nominating, Governance and Social Responsibility Committee
Pierre Beaudoin		Member		Member
Joshua Bekenstein		Member		Member
José Boisjoli (Chair)			Member
Charles Bombardier			Member
Michael Hanley (Lead director)	Chair
Katherine Kountze	Member
Ernesto M. Hernández			Member
Louis Laporte			Member
Estelle Métayer	Member
Nicholas Nomicos	Member
Edward Philip		Chair		Chair
Barbara Samardzich		Member	Chair	Member

To learn more about BRP's Board members, click here.

About BRP

We are a global leader in the world of powersports vehicles, propulsion systems and boats, built

on over 75 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on-and off-road vehicles, Alumacraft, Manitou, Quintrex boats and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel business to fully enhance the riding experience. With annual sales of CA$6 billion from over 130 countries, our global workforce is made up of more than 14,500 driven, resourceful people.

www.brp.com 
@BRPNews

Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Evinrude, Manitou, Alumacraft, Telwater and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements included in this press release are "forward-looking statements" within the meaning of Canadian and United States securities laws, including statements that are not historical facts. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on a number of assumptions, and are subject to important risks and uncertainties, both general and specific, made by the Company in light of its experience and perception of historical trends. Forward-looking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Forward-looking statements are subject to numerous factors, many of which are beyond BRP's control, including the risk factors disclosed previously and from time to time in BRP's filings with the securities regulatory authorities in each of the provinces and territories of Canada and the United States, available on SEDAR at sedar.com or EDGAR at sec.gov, respectively. The forward-looking statements contained in this press release represent BRP's expectations as of the date of this press release (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, BRP disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

View original content:http://www.prnewswire.com/news-releases/brp-announces-election-of-directors-and-board-committee-composition-301305697.html

SOURCE BRP Inc.

FAQ

What was discussed at BRP's annual meeting on June 3, 2021?

BRP's annual meeting included the election of board nominees and the announcement of Joseph Robbins' departure.

What percentage of votes did Pierre Beaudoin receive in the election?

Pierre Beaudoin received 95.10% of the votes in favor during the election.

Who replaced Nicholas Nomicos on the Investment and Risk Committee?

Charles Bombardier replaced Nicholas Nomicos on the Investment and Risk Committee.

What is BRP's annual sales figure?

BRP's annual sales exceed CA$6 billion.

What was highlighted in the press release about BRP's board composition?

The press release detailed the election results and changes in the board committee composition.