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Shareholders meeting

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 all shares in the company.

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. The last date for making such a request for the respective meeting will be published 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 2016

The 2016 AGM was held at the Stockholm Waterfront Congress ­Centre in Stockholm, Sweden, on April 6, 2016. 995 shareholders representing a total of 51.4% of the share capital and 60.9% 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.electroluxgroup.com/corporate-governance, together with the minutes. The ­meeting was held in Swedish, with simultaneous interpretation into English. All Board members, as well as the Group’s auditor in charge, were present at the meeting.

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.

Decisions at the Annual General Meeting 2016 included:

  • Dividend payment of SEK 6.50 per share for fiscal year 2015.
  • Election of Ulla Litzén, David Porter and Jonas Samuelson as new Board members and re-election of the Board ­members Hasse Johansson, Petra Hedengran, Ronnie Leten, Bert ­Nordberg, Fredrik Persson and Ulrika Saxon. 
  • Re-election of Ronnie Leten 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 2016 covering up to 250 managers and key employees. 
  • Authorization to acquire own shares and to transfer own shares on account of company acquisitions and to cover costs that may arise as a result of the share program for 2014.
% of share capital
% of votes
  12 13 14 15 16
% of share capital 51 52 51 52 51.4
% of votes 60.3 62 60 65 61
Shareholders 756 1001 908 1139 995

995 shareholders representing a total of 51.4% of the share capital and 60.9% 
of the votes were present at the 2016 AGM.

Annual General Meeting 2017

The next AGM of Electrolux will be held on Thursday, March 23, 2017, at Stockholm Waterfront Congress Centre in Stockholm, Sweden. 

For additional information on the next AGM and how to register attendance, see page 159.