Resolute Stockholders Vote in Favor of Each Proposal at Annual Meeting

Rhea-AI Summary

On May 27, 2022, Resolute Forest Products Inc. (NYSE: RFP) held its annual stockholders' meeting, with 60.5 million shares (78.8%) voted. All proposals were approved, including the election of eight director nominees with substantial majorities. Notable results included Randall C. Benson receiving 98.4% approval and Suzanne Blanchet 99.5%. Stockholders also ratified PricewaterhouseCoopers LLP as independent auditors for 2022 and approved executive compensation plans. Resolute is a leader in the forest products sector, operating around 40 facilities across the U.S. and Canada.

Positive

• 78.8% of outstanding shares voted, indicating strong shareholder engagement.
• All proposals, including the election of eight directors, passed with substantial support.
• PricewaterhouseCoopers LLP ratified as independent auditors for 2022, enhancing transparency.

Negative

• Michael S. Rousseau received only 97.2% of votes, indicating potential shareholder concern.

MONTREAL,  May 27, 2022 /PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today held its virtual and in-person annual meeting of stockholders. A total of 60,514,091 common shares, or 78.8% of the outstanding shares, were voted at the meeting. Shareholders voted in favor of each proposal, including the election of the eight director nominees, by a substantial majority:

NOMINEE	FOR		AGAINST		ABSTAIN	NON-VOTES
	# of shares	%	# of shares	%	# of shares
Randall C. Benson	55,551,033	98.4	932,490	1.7	17,881	4,012,687
Suzanne Blanchet	56,211,345	99.5	271,689	0.5	18,370	4,012,687
Duncan K. Davies	56,276,317	99.6	205,519	0.4	19,568	4,012,687
Jennifer C. Dolan	55,598,953	98.4	884,220	1.6	17,931	4,012,687
Remi G. Lalonde	56,193,165	99.5	287,972	0.5	20,267	4,012,687
Bradley P. Martin	55,976,561	99.1	505,262	0.9	19,581	4,012,687
Alain Rhéaume	52,741,675	93.4	3,739,284	6.6	20,445	4,012,687
Michael S. Rousseau	54,914,047	97.2	1,575,537	2.8	11,820	4,012,687

The other proposals on which stockholders voted favorably included:

• The ratification of the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the 2022 fiscal year.
• An advisory vote to approve compensation of the company's named executive officers, as disclosed in the proxy statement.

About Resolute Forest Products

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products and papers, which are marketed in over 60 countries. The company owns or operates some 40 facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

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SOURCE Resolute Forest Products Inc.

FAQ

What happened at Resolute Forest Products' annual meeting on May 27, 2022?

The annual meeting saw 78.8% of shares voted, with all proposals, including director elections and auditor ratifications, being approved.

Who were elected as directors during Resolute's annual meeting?

Randall C. Benson, Suzanne Blanchet, Duncan K. Davies, Jennifer C. Dolan, Remi G. Lalonde, Bradley P. Martin, Alain Rhéaume, and Michael S. Rousseau were elected with high approval rates.

What proposals were approved at Resolute Forest Products' annual meeting?

The meeting approved the election of directors, auditor ratification, and executive compensation plans.

What is the stock symbol for Resolute Forest Products?

Resolute Forest Products trades under the stock symbol RFP on both the NYSE and TSX.

How did shareholders vote regarding executive compensation at Resolute?

Shareholders approved the compensation of the company's named executive officers as disclosed in the proxy statement.