The Annual General Meeting of AB Electrolux was held on Thursday, March 31, 2011, in Stockholm.
Marcus Wallenberg, Peggy Bruzelius, Lorna Davis, Hasse Johansson, John S. Lupo, Torben Ballegaard Sørensen and Barbara Milian Thoralfsson were re-elected to the Board of Directors. Keith McLoughlin and Ulrika Saxon were elected new Board members. Marcus Wallenberg was re-elected Chairman of the Board. At the statutory Board meeting following the AGM, Peggy Bruzelius was re-elected Deputy Chairman of the Board.
The proposed dividend of SEK 6.50 per share was adopted. The record date was set as April 5, 2011, and cash dividends are expected to be paid from Euroclear Sweden on April 8, 2011.
The parent company’s and the Group’s income statements and balance sheets were adopted. The Board of Directors and the President were discharged from liability for the financial year 2010.
An instruction for the nomination committee was decided. The instruction will now apply until further notice, but except that it is substantially the same compared to the previous year.
The Meeting resolved to adopt the proposed remunerations to the Board, that are the same compared to the previous year and that were communicated in the notice convening the AGM. The proposal for remuneration guidelines for Group Management was also approved, as well as the scope of and the principles for Electrolux performance based, long-term share program for 2011.
The Meeting authorized the Board of Directors to resolve on acquisitions of Electrolux B-shares up to a maximum amount of 10 per cent of all shares issued by the company. The Board was also authorized to transfer own shares on account of company acquisitions. The Group was authorized transfers of up to 3,000,000 B-shares to cover costs that may arise as a result of the Electrolux Performance Share Program for 2009. The authorizations are effective during the period up until next year’s AGM. Moreover, the Meeting decided that the Group may transfer B-shares to the participants in the share program for 2011, according to the conditions communicated in the notice convening the AGM.
The AGM also approved the resolution on changes in the articles of association as proposed by the Board of Directors to the effect that the notice convening a General Meeting shall be issued through announcement in the Swedish Official Gazette and at the Company’s website, and that announcement that notice has been issued shall be made in Svenska Dagbladet and Dagens Nyheter. The specified timing for registration of participation in a General Meeting is also removed. From now on, the registration can be done until midnight the day stated in the notice convening the meeting.
Full details on the proposals adopted by the AGM can be downloaded at www.electrolux.com/agm.
For further information
Contact Electrolux Press Hotline, +46 8 657 65 07.
