Press release from AB Volvo´s Board of Directors
The Board of AB Volvo has today decided to withdraw the proposal to the Annual General Meeting to raise the ceiling for the performance-based variable salary from 50% to 60% of the fixed salary for the 250 most senior executives in the Volvo Group. The Board also withdraws its proposal to increase the number of shares in the long-term incentive program for these senior executives.In a comment regarding the decision, the Chairman of AB Volvo, Finn Johnsson, states:“The remuneration programs to senior executives in Volvo should be market adapted and in line with other comparable companies.