AB Electrolux publishes information brochure and appoints additional board member of Electrolux Professional AB
The Board of Directors of AB Electrolux (publ) (“Electrolux”) has proposed that an Extraordinary General Meeting, to be held on February 21, 2020 resolves on the distribution of all shares in Electrolux Professional AB (publ) (“Electrolux Professional”) to Electrolux shareholders. Information regarding the proposed distribution and listing of the shares in Electrolux Professional has today been published and is available in the form of an information brochure.
The information brochure presents the background and reasons for the proposed split of the Electrolux Group as well as a description of Electrolux Professional’s business. The brochure also contains financial targets, dividend policy and historical financial information for both Electrolux Professional and Electrolux (excluding Electrolux Professional). The brochure constitutes decision-making documentation for Electrolux shareholders in respect of the Board of Director’s proposal to distribute the shares in Electrolux Professional. The brochure and more information on the Extraordinary General Meeting are found here.
Electrolux has previously announced the appointment of six board members in Electrolux Professional; Kai Wärn, Chairman, Lorna Donatone, Hans Ola Meyer, Daniel Nodhäll, Martine Snels and Carsten Voigtländer. Today it is announced that Katharine Clark has also been appointed as new board member, meaning that the Board consists of seven members elected by the general meeting. Additional information about Katharine Clark and the other board members is included in the information brochure.
A prospectus for admission to trading of the shares in Electrolux Professional on Nasdaq Stockholm is planned to be published on March 10, 2020. Distribution of the shares and the first day of trading in Electrolux Professional is planned to take place on March 23, 2020.
Investors, financial analysts and media representatives are invited to Electrolux Professional’s first Investor Day, planned to be held on March 11, 2020 in Stockholm, Sweden. The event will be hosted by Alberto Zanata, President and CEO of Electrolux Professional, together with parts of the management team. The Investor Day will provide a review of the company's strategy, financial development and goals, and a description of products, production and markets. Registration for the Investor Day is done through Jacob Broberg, SVP IR and Corporate Communication at Electrolux Professional: email@example.com
For further information, please contact:
Sophie Arnius, Head of Investor Relations, +46 70 590 80 72
Electrolux Press Hotline, +46 8 657 65 07
Electrolux is a leading global appliance company that has shaped living for the better for more than 100 years. We reinvent taste, care and wellbeing experiences for millions of people, always striving to be at the forefront of sustainability in society through our solutions and operations. Under our brands, including Electrolux, AEG and Frigidaire, we sell approximately 60 million household products in approximately 120 markets every year. In 2019 Electrolux had sales of SEK 119 billion and employed 51,000 people around the world. For more information go to www.electroluxgroup.com