On behalf of the Company and the Board I would like to extend a special thank you to Inge Thulin who resigned from our board today. As many of you know Inge was recently elected as the President and Chief Executive Officer of 3M and plans to focus his time and efforts exclusively in this new role. During his years of service on our Board, Inge used his significant international expertise to help us to continue to successfully increase our global presence and to grow our international revenues. Please join me in thanking Inge for his many contributions to the Toro Company.I would also like to introduce the representatives from KPMG, our accounting firm who are with us today. They are Tim Forstad and Heike Drake-Cavalletti, please welcome Tim and Heike. With that I will now call our 2012 annual shareholders meeting to order. I would like to introduce Amy Dahl, our Assistant Corporate Secretary who will conduct the formal portion of the meeting. Amy? Amy Dahl Thank you Mike and good afternoon shareholders. We previously received an affidavit of distribution establishing that notice of this meeting was duly given. All shareholders of record at the close of business on January 23rd 2012, the record date for this meeting are entitled to vote at the meeting. Mr. Anthony [Crudele] of Broadridge is here with us today and has been appointed as an independent Inspector of Election for the meeting. Please help me welcome Tony. Immediately prior to the meeting, we were informed by the Inspector of Election that more than 27.8 million shares or approximately 92% of our common stock is represented today in person or by proxy. Therefore we have a quorum. Because the notice of this meeting was duly given and the quorum is present, this meeting is duly convened for purposes of transacting the business to properly come before it.
The polls are now open and will remain open during the presentation of the items to be voted upon at the meeting. If anybody would like a ballot, please raise your hand and one will be provided. As most of you know, if you previously voted by proxy you don't need to vote by ballot today. Our first order of business is the election of three directors, each to serve for a three-year term ending at our 2015 annual meeting. Our nominees are Janet Cooper, Gary Ellis and Gregg Steinhafel.The second order of business is the ratification of KPMG as our independent, registered public accounting firm for the fiscal year ending October 31, 2012. And the third and final order of business is the advisory vote on executive compensation or the say-on-pay vote. And with that I hereby declare the polls closed. Prior to the meeting the inspector of elections determined that pending tabulations, each of our nominees for election to the Board has received an excess of 97% in the votes cast, and has been reelected. The selection of KPMG as our fiscal 2012 independent registered public accounting firm has received in excess of 98% of votes cast and has been ratified and the say-on-pay advisory vote received an excess of 94% of the votes cast and has been approved. Final tabulation of these votes will appear in our required Form 8-K to be filed with the SEC. This shall conclude the formal portion of our 2012 annual shareholders meeting. Before I turn the meeting back over to Mike, I just like to remind you about our forward-looking statement policy. The Safe Harbor portions of our SEC filings detail some of the important risks factors that may cause actual results to differ from those in our predictions. And with that, I will now turn the meeting back over to Mike. Thank you Read the rest of this transcript for free on seekingalpha.com