Information from the 2009 AGM of H & M Hennes & Mauritz AB
On Monday 4 May H & M Hennes & Mauritz AB held its Annual General Meeting under the chairmanship of lawyer Sven Unger. The AGM approved the dividend of SEK 15.50 per share in accordance with the Board of Directors’ proposal. The record day is 7 May 2009. The dividend is expected to be paid out by Euroclear Sweden AB (formerly VPC) on 12 May 2009.
The AGM discharged the members of the Board and the Managing Director from liability for the 2007/2008 financial year.
Regular Board members Mia Brunell Livfors, Lottie Knutson, Sussi Kvart, Bo Lundquist, Stig Nordfelt, Stefan Persson and Melker Schörling were re-elected by the meeting. Fred Andersson did not stand for re-election and Karl-Johan Persson, who will take up the position of Managing Director and CEO of H&M on 1 July 2009, left the Board at the AGM. The Board of Directors thus comprises seven members elected by the AGM, compared with nine in the previous year. Stefan Persson was re-elected as Chairman of the Board.
The regular members appointed previously by the trade unions are Margareta Welinder and Marianne Norin-Broman, with Tina Jäderberg and Agneta Ramberg as deputy members.
The AGM approved the proposal from the Election Committee that the Board fees for members elected by the AGM be left unchanged: Chairman of the Board SEK 1,350,000; members elected by the AGM SEK 375,000; members of the Auditing Committee an extra SEK 75,000; and the chairman of the Auditing Committee an extra SEK 125,000. As a result, the total Board fees amount to SEK 3,875,000. This is a decrease of SEK 375,000 compared with the previous year.
The AGM approved the proposal from the Election Committee that the authorized auditing firm Ernst & Young AB be elected as the company’s auditor for a 4-year mandate period, i.e. until the end of the Annual General Meeting to be held in 2013.
The AGM approved the Election Committee’s proposed principles for the Election Committee and elected the members of the Election Committee for the period up to the next AGM. The members of the Election Committee, which is based on shareholdings as at 27 February 2009, are Stefan Persson, Lottie Tham, Staffan Grefbäck (representing Alecta), Jan Andersson (representing Swedbank Robur Fonder) and Peter Lindell (representing AMF Pension).
The AGM approved the resolution proposed by the Board concerning guidelines for remuneration to senior executives.
The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under Sweden’s Securities Market Act. It was released for publication at 17:00 (CET) on 4 May 2009.