The Annual General Meeting of AB Electrolux was held on Tuesday, April 27, in Stockholm.
The changes in the Electrolux board were as follows:
Gösta Bystedt resigned from the board of his own accord.
Rune Andersson, Peggy Bruzelius, Thomas Halvorsen, Louis R. Hughes, Nobuyuki Idei, Stefan Persson, Michael Treschow, Karel Vuursteen, and Jacob Wallenberg were re-elected to the board.
The proposed dividend of SEK 3.00 per share was adopted. The record date was set for April 30, 1999, and dividends are estimated to be paid by VPC (the Swedish Securities Register Centre, SSRC) on May 7, 1999.
The parent company’s and Group’s Income Statements and Balance Sheets were adopted. The Board of Directors and President were discharged from liability for the fiscal year 1998.
The auditing firm of KPMG Bohlins AB was elected as auditors for the period up to the end of the Ordinary General Meeting held in the fiscal year 2002.
At the statutory board meeting, Rune Andersson was elected chairman. Jacob Wallenberg was elected deputy chairman.
Michael Treschow presented the Electrolux Group’s prize for development efforts during the year – the Excellence in Engineering Award – in two different classifications.
The Main Classification prize was awarded to the 20 people in the development team from Austria and Italy for a new generation small, quiet, energy-efficient compressors – the so-called KAPPA compressors. The prize sum was SEK 400,000.
The Primary Classification prize was awarded to a Danish project group for the development of an electronic valve to regulate gas flow in stoves. The new control system makes the stove simpler and safer to use, and traditional knobs can be replaced with touch controls. The prize sum was SEK 80,000.
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