Annual General Meeting of AB SKF
Gothenburg, 27 March 2018: The Annual General Meeting of Aktiebolaget SKF, parent company of the SKF Group, was held in Gothenburg on Tuesday, 27 March 2018.
The income statements and the balance sheets were adopted, together with the Board’s proposal for distribution of dividend. A dividend of SEK 5.50 per share was approved. To be entitled to receive the dividend, shareholders must be recorded in the share register on 29 March 2018.
The Meeting resolved that the Board’s fee for 2018 is to be in accordance with the following:
a) a firm allotment of SEK 7,040,000 to be distributed with SEK 2,070,000 to the Chairman of the Board, and with SEK 710,000 to each of the other Board members; and
b) an allotment for committee work to be distributed with SEK 240,000 to the Chairman of the Audit Committee, with SEK 170,000 to each of the other members of the Audit Committee, with SEK 140,000 to the Chairman of the Remuneration Committee and with SEK 110,000 to each of the other members of the Remuneration Committee.
A prerequisite for obtaining an allotment is that the Board member is elected by the General Meeting and is not employed by the company.
The following Board members were re-elected: Mr Peter Grafoner, Mr Lars Wedenborn, Mr Hock Goh, Ms Nancy Gougarty, Mr Alrik Danielson Mr Ronnie Leten and Ms Barb Samardzich. The following Board members were newly elected: Mr Hans Stråberg and Ms Colleen Repplier.
Mr Hans Stråberg was elected Chairman of the Board.
The Meeting approved the Board’s proposal regarding principles of remuneration for Group Management and the Board’s proposal for a resolution on SKF’s Performance Share Programme 2018. The programme covers not more than 225 senior managers and key employees in the SKF Group with an opportunity to be allotted, free of charge, SKF B shares. Under the programme, not more than 1,000,000 shares, corresponding to around 0.2 % of the total number of outstanding shares, may be allotted. The number of shares that may be allotted must be related to the average TVA development during 2018-2020 compared to the actual TVA in 2017.
The Meeting approved the proposal presented regarding the Nomination Committee.
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SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2017 were SEK 77 938 million and the number of employees was 45 678. www.skf.com
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