The Swedbank Nomination Committee proposes a changed Board of Directors and the shareholders in the Nomination Committee calls for an EGM

The five largest shareholders in Swedbank AB, whose also constitutes the Swedbank Nomination Committee, have today requested Swedbank’s Board of Directors to call for an Extraordinary General Meeting (EGM). Göran Persson, as previously communicated, is proposed as Chairman of the Board. Furthermore, the Nomination Committee proposes new elections of Bo Magnusson and Josefin Lindstrand. 

Bo Magnusson has had an extensive and successful career within SEB. Today he is Chairman of the Board in two Swedish banks, and a Board member in one of Belgium’s largest banks. Josefin Lindstrand is an Attorney at law at the law firm Hammarskiöld & Co, and has both Swedish and international experience of working with anti-money laundering issues.

All who have been nominated for new election intends to, no later than in connection with the EGM, leave assignments that will not be compatible with their roles in the Swedbank Board of Directors.

The Nomination Committee proposes reelection of Bodil Eriksson, Mats Granryd, Kerstin Hermansson, Bo Johansson, Anna Mossberg and Magnus Uggla. The Swedbank Board of Directors will thus consist of nine Board members; five men and four women.

The Chairman of the Swedbank Nomination Committee, Lennart Haglund, says in a comment:

“Today I have spoken to the Swedbank’s Chairman of the Board and requested an EGM to be held before Midsummer*. I am pleased to propose, on behalf of the Nomination Committee, a strong Board of Directors, which includes a number of new elections. Göran Persson is proposed as Chairman of the Board. Bo Magnusson is proposed to be appointed Vice Chairman of the Board. Additionally, we propose a new election of Josefin Lindstrand.

The proposed Board of Directors has a comprehensive experience within the banking industry. Alongside this, the Board has an extensive knowledge about digitalization, regulations, business operations, societal development, branding, mobile services and international business operations. Swedbank is facing many challenges. The Nomination Committee is convinced that the proposed Board of Directors can lead to the rebuilding of trust for Swedbank.  

We would like to thank Ulrika Francke, who during a difficult situation has shouldered the role as Chairman of the Board. We would also like to thank Siv Svensson and Peter Norman for their work on the Board. All three of them, have declined re-election to the Swedbank Board of Directors in conjunction with the EGM.”

The Swedbank Nomination Committee consists of Chairman Lennart Haglund (The Saving banks’ owner association), Jens Henriksson (Folksam), Ramsay Brufer (Alecta), Johan Sidenmark (AMF) and Peter Karlström (The Saving bank’s foundation).

The full proposal of the Nomination Committee will be presented in the EGM’s invitation, and will be available on the Swedbank’s website.

For further information:
Lennart Haglund, Chairman of the Swedbank Nomination Committee, ph. +46 70 557 51 29

*The Swedish Midsummer holiday befall on the 21st of June 2019.

Swedbank encourages a sound and sustainable financial situation for the many households and businesses. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 186 branches in Sweden and 125 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 December, 2018 the group had total assets of SEK 2 246 billion.  Read more at www.swedbank.com

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Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 8 million retail customers and around 600 000 corporate customers and organisations with 168 branches in Sweden and 99 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 December, 2019 the group had operating profit of 24 420 SEKbn. Read more at www.swedbank.com

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Today I have spoken to the Swedbank’s Chairman of the Board and requested an EGM to be held before Midsummer. I am pleased to propose, on behalf of the Nomination Committee, a strong Board of Directors, which includes a number of new elections. Göran Persson is proposed as Chairman of the Board. Bo Magnusson is proposed to be appointed Vice Chairman of the Board. Additionally, we propose a new election of Josefin Lindstrand.
Lennart Haglund, Chairman of the Swedbank Nomination Committee