Renewal of energy system in the Vattenfall AGM spotlight
“I am proud that Vattenfall was the first energy company to adopt climate change targets that are far more ambitious that the EU targets,” said Group CEO Lars G Josefsson at the Vattenfall AGM on Thursday, when he summarised developments since last year’s AGM, where Vattenfall set the goal of reducing its total carbon dioxide emissions by 50 percent based on the 1990 level. As in previous years, the meeting was open to the general public.
In his presentation Lars G Josefsson highlighted the renewal of the energy system in Europe and linked this to the theme of the Vattenfall annual report, “Power for renewal”. Vattenfall is one of Sweden’s biggest investors in Europe. For the five-year period 2008-2012 the group is expected to invest 173 billion Swedish Kronor – an increase of 29 billion compared with the five-year period 2007-2011.
“Some people think electricity is a climate change villain, when in actual fact the opposite is the case: electricity is a necessary part of the solution to the problem,” he maintained.
The shareholders were represented at the AGM by Ola Alterå, State Secretary to the Minister for Enterprise and Energy.
The AGM resolved that the board should have eight ordinary members, in addition to the employee representatives and their deputies. Christer Bådholm, Hans-Olov Olsson, Lone Fønss Schrøder, Tuija Soanjärvi and Anders Sundström were re-elected as members of the board for a further twelve months. Viktoria Aastrup, Eli Arnstad and Lars Westerberg were elected as new members for twelve months. Lars Westerberg was elected chair and Hans-Olov Olsson deputy chair.
Dag Klackenberg is leaving the board after seven years as its chair. Jonas Iversen and Greta Fossum are also leaving the board.
The following employee representatives are also members of the board: Ronny Ekwall, SEKO, Carl- Gustaf Angelin, Akademikerna and Johnny Bernhardsson, Unionen, with Lars Carlsson, Unionen, Lars-Göran Johansson, Ledarna, and Per-Ove Lööv, SEKO as their deputies. (Lars-Göran Johansson replaces Stig Lindberg.)
The meeting resolved that the chair of the board should receive an emolument of SEK 580,000 and that the deputy chair should receive an emolument of SEK 400,000. Each board member that is not an employee of Vattenfall AB is to receive an emolument of SEK 280,000.
The meeting resolved that the board members and managing director be discharged from their liabilities, adopted the profit and loss account and balance sheet for Vattenfall AB and the Vattenfall Group and resolved on the disposition of the company’s profit. From the profits of SEK 24 122 326 236 at the disposal of the AGM, it was resolved that SEK 8 billion be distributed to shareholders and SEK 16 122 326 236 be carried forward.
The meeting also approved the principles for terms and conditions of employment for senior executives and fixed the emoluments for the board and committees.
For further information, please contact:
Erik von Hofsten, Head of Media Relations Nordic, phone: +46 (0) 8-739 54 84 mobile: +46 (0) 70-559 54 84.
Anna Lihr, Press Secretary, phone: +46 8 739 33 52, mobile: +46 708 933 352.
From Vattenfall's Press Office, telephone: +46 (0)8-739 50 10.