Report from the AGM of Alfa Laval AB
The Annual General Meeting of Alfa Laval AB was held at Sparbanken Skåne Arena in Lund, Sweden, on Monday, April 23rd. A few hundred guests, shareholders, proxies and officials attended the meeting under the chairmanship of Anders Narvinger.
This is an unofficial translation of the Swedish report. In case of any discrepancies between the Swedish report and this English translation, the Swedish version shall prevail.
At the meeting, Tom Erixon, Alfa Laval’s President and CEO, talked about 2017, a year which was characterized by signs of recovery in both the marine market as well as the oil and gas-related industry. Furthermore, he gave examples of results from the strategic changes that were implemented early last year.
The income statements and balance sheets were adopted, together with the Board’s proposal for distribution of surplus. The proposed dividend of SEK 4:25 per share was approved. The AGM also approved the discharge from liability for the members of the Board of Directors and the Managing Director.
It was resolved that the number of members of the Board of Directors shall be seven, with no deputies. As Board members Anders Narvinger, Finn Rausing, Jörn Rausing, Ulf Wiinberg, Margareth Øvrum and Anna Ohlsson-Leijon were re-elected, while Ulla Litzén had declined re-election. The nominating committee’s proposal to newly elect Henrik Lange as a member of the board was also approved. Anders Narvinger was appointed Chairman of the Board.
Furthermore, the AGM approved the proposal to elect the authorized public accountants Staffan Landén and Karoline Tedevall as the company’s auditors for the coming year. The proposal for deputy auditors - authorized public accountants Henrik Jonzén and Nina Bergman - was also approved.
The AGM decided to adopt the remuneration to the Board of Directors for 2018 in line with the Nominating Committee’s proposal. Remuneration amounts to SEK 5,035,000. Additional remuneration will be paid for work performed on the Board’s committees. It was also decided that compensation to auditors shall be paid as per approved invoice.
Furthermore, the AGM adopted a resolution on the guidelines for compensation to senior management, including fixed compensation as well as long and short-term variable compensation, pension benefits, non-monetary benefits and dismissal and severance pay.
Complete proposals can be found on www.alfalaval.com/investors/corporate-governance/
Lund, April 23, 2018
Alfa Laval AB
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Tel: + 46 46 36 72 31
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Mobile: +46 709 78 74 82