Shareholders by the AGM
General Meetings of shareholders
The decision-making rights of shareholders in Electrolux are exercised at shareholders’ meetings. The AGM of Electrolux is held in Stockholm, Sweden, during the first half of the year.
Extraordinary General Meetings may be held at the discretion of the Board or, if requested, by the auditors or by shareholders owning at least 10% of the shares.
Participation in decision-making requires the shareholder’s presence at the meeting, either personally or through a proxy. In addition, the shareholder must be registered in the share register by a stipulated date prior to the meeting and must provide notice of participation in the manner prescribed. Additional requirements for participation apply to shareholders with holdings in the form of American Depositary Receipts (ADR) or similar certificates. Holders of such certificates are advised to contact the ADR depositary bank, the fund manager or the issuer of the certificates in good time before the meeting in order to obtain additional information.
Individual shareholders requesting that a specific issue be included in the agenda of a shareholders’ meeting can normally request the Electrolux Board to do so well in advance to the meeting via an address provided on the Group’s website.
Decisions at the meeting are usually taken on the basis of a simple majority. However, as regards certain issues, the Swedish Companies Act stipulates that proposals must be approved by shareholders representing a larger number of the votes cast and the shares represented at the meeting.
Annual General Meeting 2013
The 2013 AGM was held at the Stockholm Waterfront Congress Centre in Stockholm, Sweden, on March 26, 2013. 1,001 shareholders representing a total of 52.4% of the share capital and 61.8% of the votes were represented at the AGM. The President’s speech was broadcasted live via the Group’s website and is also available on www.electrolux.com/corporate-governance, together with the minutes. The meeting was held in Swedish, with simultaneous interpretation into English. The speech of the President was held in English and simultaneously interpreted into Swedish. All Board members, as well as the Group’s auditor in charge, were present at the meeting.
Attendance at AGMs 2009–2013
Decisions at the Annual General Meeting 2013 included:
- Dividend payment of SEK 6.50 per share for fiscal year 2012.
- Election of the new Board member Bert Nordberg and re-election of the Board members Marcus Wallenberg, Lorna Davis, Hasse Johansson, Ronnie Leten, Keith McLoughlin, Fredrik Persson, Ulrika Saxon, Torben Ballegaard Sørensen and Barbara Milian Thoralfsson.
- Re-election of Marcus Wallenberg as Chairman of the Board.
- Remuneration to the Board members.
- Approval of remuneration guidelines for Electrolux Group Management.
- Performance-based, long-term incentive program for 2013 covering up to 225 managers and key employees.
- Authorization to acquire own shares and to transfer own shares on account of company acquisitions.
The AGM resolves upon:
- The adoption of the Annual Report.
- Dividend.
- Election of Board members and, if applicable, auditors.
- Remuneration to Board members and auditors.
- Guidelines for remuneration to Group Management.
- Other important matters.
Annual General Meeting 2014
The next AGM of Electrolux will be held on Wednesday, March 26, 2014, at the Stockholm Waterfront Congress Centre, Stockholm, Sweden.
For additional information on the next AGM and how to register attendance, see the section Annual General Meeting. StopSearchHereCEO Statement
In 2013 we continued to deliver above our growth target and delivered 4.5% in organic sales growth.
CEO Statement
I'm convinced that raising product efficiency for the growing middle class is where long-term shareholder value creation lies.
Our products
Electrolux is the only appliance manufacturer in the industry to offer complete solutions for both consumers and professionals. The focus is on innovative and energy-efficient products in the premium segments.
Sustainability
Achieving the Group's vision of sustainability leadership is crucial to realizing the business strategy. The objective is to develop smarter, more accessible, resource-efficient solutions that meet people's needs and improve their lives. Read the comprehensive sustainability performance review.
Awards & recognition
Financial Reporting
Net sales for the Electrolux Group in 2013 amounted to SEK 109,151m, as against SEK 109,994m in the previous year. The organic sales growth was 4.5%, while currencies had an impact of -5.3%.
