Hello, and welcome to the annual meeting of stockholders of Bio-Rad Laboratories, Inc. Please note that today's meeting is being recorded. During the meeting, we'll have a question and answer session. You can submit questions or comments at any time by clicking on the message icon. It is now my pleasure to turn today's meeting over to Norman Schwartz. Mr. Schwartz, the floor is yours.
Thank you. Good afternoon. I'm, of course, Norman Schwartz, and I'm pleased to welcome all of you to our virtual 2022 annual meeting of stockholders. We are holding the annual meeting of stockholders again this year as a virtual-only meeting due to the continued caution surrounding COVID-19 pandemic and certainly in the best interest of public health. As I look back, you know, this is our 55th annual meeting as a public company, having gone public in 1966, and unfortunately our third virtual annual meeting. Certainly I'm hopeful that we'll be in a position to return to our traditional in-person format next year. Today I'll preside as chairman of the meeting, and Tim Ernst, Secretary of the company, will act as secretary of the meeting. Joining us by phone are nominees for the board of directors.
They are Melinda Litherland. Sorry, Melinda. Jeff Edwards, Ardy Pinkston, Greg Hinckley, and Allison Schwartz. Each of the members brings a good background and a wealth of experience and have collectively been very helpful as we continue to build the company. Additionally, we have key management joining us for the meeting today, and also joining us by phone is Alice Schwartz, our Co-founder and longtime director. Mrs. Schwartz recently decided not to stand for re-election and was appointed by the board as a Director Emeritus effective April 26, 2022. The company is very indebted to Mrs. Schwartz for her many years of service and immeasurable contributions to the company.
I would also like to recognize a few key members of the executive management team that are also here with me today, including Andy Kim, Treasurer, Tim Ernst, General Counsel, Ilan Daskal, Chief Financial Officer, Andy Last, Chief Operating Officer, and Catherine Elder, Associate General Counsel. Before moving on to the formal business of today's meeting, please note that as described in the company's proxy statement, the holders of proxy, the proxy solicited by the board of directors for this meeting are Tim Ernst and Catherine Elder. We will now conduct the formal business portion of the meeting. I'll remind you that if you want to ask a question, please submit it on the virtual annual meeting website by clicking on the Q&A icon. We will answer questions about the proposals to be voted on today after the two proposals have been presented.
We will then answer other more general questions once the formal business portion of the meeting has concluded. With that, the polls for voting on all matters are open. All Bio-Rad stockholders entitled to vote at this meeting have the ability to do so online. If you are a stockholder entitled to vote and have not yet voted, or if you wanna change your previously cast vote, please do so on the virtual annual meeting website by clicking on the vote icon. Please remember that if you've already voted by proxy or via telephone or the internet prior to the meeting, it is not necessary to vote again. After the voting has been completed on all matters on the agenda, we will close the polls, and the Inspector of Elections will provide a preliminary report.
First, I confirm that we have an affidavit signed by Computershare stating that the company's annual report, notice of the meeting, and proxy statement were first mailed on March 30th, 2022. Second, Andy Kim has been appointed as Inspector of Elections for all matters requiring a stockholder vote at this meeting. Andy has a list of all stockholders who are entitled to vote at this meeting. With that, Andy, can you fill us in?
Thanks, Norman. The list shows that 24,863,001 shares of Class A Common Stock and 5,069,436 shares of Class B Common Stock were outstanding as of February 28, 2022, which is the record date for this meeting. With over 96% of the combined A and B shares submitted, we have determined that there are sufficient shares to represent a quorum to conduct business to be brought before the meeting.
Thank you, Andy. As stated in the notice of the meeting, there are two proposals to be voted on today. First, the election of directors Melinda Litherland and Arnold Pinkston, each of whom has been nominated to serve as a director elected by the holders of the Class A shares, voting as a single class. Jeffrey Edwards, Gregory Hinckley, Allison Schwartz, and Norman Schwartz, each of whom has been nominated to serve as a director elected by the holders of the Class B shares, voting as a single class. Second is ratification of the appointment of KPMG as the company's independent auditors for the fiscal year ended December 31, 2022. Steve Morgan and Edward Chung of KPMG have joined us today by telephone and are available to answer appropriate questions directed to them by stockholders.
Lastly, we will transact such other business as may properly come before the annual meeting or any postponements or adjournments thereof. Details on the proposals were provided in the company's proxy statement. Let me just pause for a moment to see if there are any questions from stockholders regarding any of these proposals. Okay, seeing no questions and no additional votes coming in on the web portal, the polls are now closed. Andy, would you report on the initial results of the vote?
Certainly. These results are preliminary, and the final results of the balloting will appear in the company's quarterly report on Form 10-Q within four business days of this meeting. With respect to proposal number one, the election of directors Melinda Litherland and Arnold Pinkston, each of whom has been nominated to serve as a director elected by the holders of the Class A shares, voting as a single class, has each received an affirmative vote of over 84% of the votes cast. Jeffrey Edwards, Gregory Hinckley, Allison Schwartz, and Norman Schwartz, each of whom has been nominated to serve as a director elected by the holders of the Class B shares, voting as a single class, has each received an affirmative vote of over 99% of the votes cast.
With proposal number two, relating to the ratification of the appointment of KPMG as independent auditors, has received the affirmative vote of over 99% of the voting power of the holders of the Class A and Class B shares present or represented at this meeting and entitled to vote on the proposal.
Okay. Well, I would say on behalf of the board, I thank you for your continued vote of confidence. That concludes the formal business for the meeting, so we are now formally adjourned. I thought before we close today, I might take a few minutes to close out on 2021 and say a little bit about our focus for 2022. Again, a reminder that questions can be submitted on the web portal by clicking the Q&A icon. As I think back, you know, last year at this meeting, I spent a lot of time talking about the pandemic and all the activities we'd undertaken to help our customers, protect our employees, and manage through an unprecedented time. I guess as I look back, I think we've done well.
You know, with our organization adapted to a new environment, we were able to focus our energy on a multitude of initiatives to grow the business and improve operating efficiency in 2021. We do expect a gradual return to normal during this year. That has turned out as predicted for our customers and most of our markets. Some of the lingering effects of the pandemic on our operations, though, have carried over into 2022. Like many others, supply chain issues continue to be a challenge. Although this has been most recently centered around critical electronic components, the priorities can shift from week to week. Overall, I think we're managing well, given the circumstances, and do expect to see a gradual easing as the year progresses.
I would also say, as we return to a more normal environment, it's great to see more of our people return to the workplace, and with that, the increased level of interaction that comes from being together. As we entered 2022, it also gave us the opportunity to update our financial outlook and plans for the next several years. That work culminated with an investor meeting held recently at the New York Stock Exchange, where we published our growth goals through 2025. I think with that, we're certainly excited about the opportunities before us, look forward to another year of progress, and continuing to build for the future. Let me pause for a second to see if there are any other questions that have come in on the web portal.
I see there are no questions that have come in, and I believe that will conclude our annual meeting for today. Certainly, thank everyone for your continued interest in Bio-Rad, and I'm really looking forward to seeing everyone in person next year. Thank you.
This concludes the meeting. You may now disconnect.