AGM in Mycronic – additional proposals from the Nomination Committee
Täby, 12 April, 2016 - At the time of publication of the AGM notice, on 31 March 2016, the work of the Nomination Committee was not fully completed. The Nomination Committee hereby presents additional proposals on the following:
Item 11. Resolution regarding number of board members and deputy board members.
Item 12. Determination of fees for the members of the Board of Directors and the auditors.
Item 13. Election of board members and Chairman of the Board of Directors.
Item 11: Resolution regarding number of board members and deputy board members and auditors
The nomination committee proposes that the Board of Directors for the period running until the end of the next AGM shall be composed of six members with no deputy members and that one registered accounting firm is elected as auditor.
Item 12: Determination of fees for the members of the Board and the auditors
Board remuneration has been unchanged since the year 2012. The nomination committee proposes a ten percent increase of the remuneration, to a total of SEK 1,705,000 for the period running until the end of the next AGM, of which SEK 550,000 shall concern remuneration to the Chairman of the Board, SEK 220,000 shall concern remuneration to each of the other board members and SEK 55,000 shall concern remuneration to the Chairman of the audit committee. The Board of Directors may invoice the remuneration from his or her own company if current tax legislation allows for invoicing and as long as it can be done cost neutral for Mycronic. If the board remuneration is being invoiced through a company, the remuneration shall be increased with an amount corresponding to social security costs under law.
The nomination committee also proposes that the auditors’ fee for the period running until the end of the next AGM is taken on current account.
Item 13: Election of board members and Chairman of the Board of Directors
The nomination committee hereby motivates its proposal regarding election of Board members. To meet the requirements put on the Board of Directors as a result of the company’s current and future position, the nomination committee has discussed the size and composition of the Board. An important view is the principle that the Board should reflect the different skills and experiences required for the company's operations The Board's work is evaluated annually, either by external evaluation or self-assessment. The aim is to develop, set goals and measure the Board's work but also to provide the nomination committee a basis for the task to put forward proposals to the AGM. In 2015, the evaluation was made by an external party. The result of the evaluation has been presented to the nomination committee.
The nomination committee proposes re-election of the Board members Katarina Bonde, Ulla-Britt Fräjdin-Hellqvist, Magnus Lindquist and Patrik Tigerschiöld, and new election of Per Holmberg and Stefan Skarin. Patrik Tigerschiöld is proposed to be re-elected as Chairman of the Board. Anders Jonsson and Eva Lindqvist have declined re-election.
Per Holmberg is an experienced industrialist with extensive international background and extensive experience of acquisitions and integration of operations in Asia, Europe and the United States. Per has gained this experience during many years of senior management in both Electrolux and Hexagon. Since 2004, Per is responsible for one of three business areas in Hexagon EMEA, a leading supplier of information technologies for quality and productivity development.
Stefan Skarin has for 25 years been active in the IT industry, in Ericsson, Oracle and Adobe and has extensive experience from software operations as well as business development in strong growth. Since 2001, Stefan is the CEO of IAR Systems, a world-leading supplier of software for embedded systems for industrial applications among other things. By creating new alliances and creative business models, he has secured the company’s leading position and has at the same time opened for further growth as future market developments evolve. Stefan has an extensive international experience and through his role in IAR Systems he also holds an understanding of the electronics industry's challenges and opportunities.
The nomination committee has also considered the gender balance in the composition of the Board. The Board has had an even distribution since 2012. According to the nomination committee's proposal, the Board of Directors will consist of women to 33 percent. The nomination committee believes that the Board is well balanced, with good conditions to conduct its work effectively.
The Board of Directors’ and the nomination committee’s complete proposals are available on the company website.
Contact at Mycronic:
Tel: +46 8 638 52 00
About Mycronic AB
Mycronic AB is a Swedish high-tech company engaged in developing, manufacturing and marketing of production equipment for the electronics industry. Mycronic headquarters are located in Täby, north of Stockholm and the Group has subsidiaries in China, France, Germany, Japan, Singapore, South Korea, the Netherlands, Taiwan, United Kingdom and the United States. For more information see our web site at: www.mycronic.com
Mycronic AB (publ) is listed on NASDAQ Stockholm, Mid Cap: MYCR.
The information was submitted for publication on 12 April, 2016.