Good morning, and welcome to the 2020 Annual Stockholders Meeting of Hub Group. I'm David Yeager, Chairman and Chief Executive Officer. It's my pleasure to welcome you today. These have been and continue to be challenging times. In that regard, we're pleased to be hosting our 1st virtual annual meeting.
Regarding the business of the meeting, the agenda is available via the web portal. The meeting will take place as described in the agenda. It's now 10 a. M. Central Time on May 20, and this meeting is officially called to order.
I would like to first introduce the other nominees for election to the Board who are attending today's meeting. Peter McNett, our Lead Independent Director and recently retired Vice Chairman of BMO Harris Bank Martin Slark, recently retired CEO of Molex Inc. Mary Boosalis, President and CEO of Premier Health Jim Kenny, former U. S. Ambassador to Ireland Charles Reeves, President and CEO of Reeves Enterprises Jonathan Ward, operating partner at Kohlberg and Company and the newest nominee for the addition to our Board, Janelle Ross, President of the Bob Ross Automotive Group.
I would also like to introduce Joe Schulte and Blake Velhice, representatives from Ernst and Young are independent auditors. We indicated in our proxy statement that representatives of Ernst and Young would be available to respond to appropriate questions and to make a statement if they desired. I am advised that no stockholder questions have been submitted that were directed to Ernst and Young and they have advised me that they do not wish to make a statement. Finally, I would like to announce that Broadridge Financial Services has been appointed to act as the Inspector of the Election. Mr.
Peter Soblich from Broadridge is with us today and has taken the oath. The Board of Directors fixed March 23, 2020 as the record date for determining stockholders entitled to vote at this meeting. I've received an affidavit, which will be made part of the minutes of today's meeting that indicates that our proxy materials were appropriately mailed to all record stockholders on or about April 7, 2020. The stockholder list shows that as of the record date, there were 33,000,000 277,909 shares of Class A common stock and 662,000 296 shares of Class B common stock outstanding and entitled to vote at this meeting representing approximately 88,900 excuse me, 88,910,773 votes. As required by Delaware law, a certified list of stockholders as of the record date is available for inspection during the meeting via the virtual portal.
I'm informed by the Inspector of Elections that over 94% of our shares are present in person or by proxy. This constitutes a quorum for purposes of transacting business. Therefore, I declare this meeting duly and validly called, convened and open for business properly brought before it. It's now 10:0:4 a. M.
Central Time on May 20, 2020, and the polls are now following the instructions there. Stockholders who have sent in proxies are voted via telephone or Internet and do not want to change their vote do not need to take any further action. The polls for voting will close immediately following the reading of the proposals to be voted upon. Also, stockholders wishing to ask questions or submit comments may do so at this time. Please note that this meeting is being recorded.
However, no one attending via the webcast or telephone is permitted to use any audio recording device. Now I will present the matters to be voted upon. Proposed to 1 is the election of directors. The current board has nominated David Yeager, Mary Wouselles, James Kenny, Peter McNitt, Charles Reeves, Martin Slark, Jonathan Ward and Janelle Ross for election as directors by the stockholders. No other nominations have been submitted in accordance with the company's bylaws.
I hereby declare nominations closed. Proposal 2 is the advisory vote to approve the compensation of our named executive officers as described in the proxy statement. This vote also known as say, un pay is non binding, although the compensation committee and the Board will take the results into account when making future compensation decisions. Proposal 3 is the vote to ratify the appointment of Ernst and Young as independent registered public accountants for 2020. This is also an advisory vote.
While voting takes place, I'll make a few remarks. We're proud of what we've achieved during 2019 and in the 1st part of 2020. At Hub Group, we continue to execute our strategy with a focus on our shareholders, customers and employees and believe doing so will deliver long term shareholder value. We have surpassed our goals and have been vigilant with our cost control efforts and we will continue to improve our cost structure through enhanced operational discipline. While the economic outlook has deteriorated over the past several months and the near term outlook remains uncertain, we continue to drive efficiency in our intermodal, logistics, brokerage and dedicated businesses through our profit improvement initiatives.
We will also continue to invest in talent and technology. By offering a compelling combination of service, value and innovation, we remain focused on delivering a world class customer experience that will result in long term growth with both our existing and new clients. I would like to acknowledge the men and women of Hub Group who have worked tirelessly to ensure that we're serving our customers and suppliers during this pandemic. Like all businesses, safety is job 1 in the logistics business. Today, over 98% of our office team is working from home, providing service to our customers that deliver essential goods.
We've been receiving many compliments from our clients on the level of service and we thank our entire team for the extraordinary effort they're putting forth. And as for our drivers who are on the front lines every day delivering those essential goods, thank you. We greatly appreciate your dedication and your commitment. We are committed to executing on our strategy and believe we are well positioned for the future. Thank you to our customers for your business.
Thank you to our employees for your dedication, hard work and accountability and thank you to our shareholders for your trust and support. Everyone has now had the opportunity to vote and I now declare the polls for the 2020 Hub Group Annual Stockholder Meeting closed at 10:0:08 a. M. Central on May 20, 2020. I've been informed by the Inspector of Election that the preliminary vote report shows that all nominees for election to the Board have been duly elected.
The compensation of the named executive officers has been approved and the selections of Ernst and Young as the company's registered independent accounting firm has been approved. We'll be reporting the final vote results in a current report on Form 8 ks to be filed with the Securities and Exchange Commission within 4 business days following this meeting. Therefore, I declare David Yaeger, Mary Boosalis, James Kenny, Peter McNitt, Charles Reeves, Martin Slark, Jonathan Ward and Janelle Ross to be duly elected as directors of Hub Group to serve until their successors are elected and qualified. I also declare the compensation to our named executive officers and the selection of Ernst and Young as our auditors has been approved on an advisory basis by our stockholders. There being no further business, the 2020 Annual Meeting of Stockholders of Hub Group is now adjourned.
Thank you for