Annual General Meeting of AB SKF
2015 March 26, 16:00 CET
Gothenburg, 26 March 2015: The Annual General Meeting of Aktiebolaget SKF, parent company of the SKF Group, was held in Göteborg on Thursday, 26 March 2015, under the chairmanship of Mr Leif Östling.
The income statements and the balance sheets were adopted, together with the Board’s proposal for distribution of dividend. A dividend of SEK 5.50 per share was approved. To be entitled to receive the dividend, shareholders must be recorded in the share register on 30 March 205.
The Meeting resolved that the
Board’s fee for 2015 is to be in accordance with the following:
a) a firm allotment of SEK 7,750,000 to be distributed with SEK 1,900,000 to the Chairman of the Board, and with SEK 650,000 to each other Board member elected by the General Meeting and not employed by the company; and
b) an allotment for committee work of SEK 960,000 to be distributed with SEK 220,000 to the chairman of the Audit Committee, with SEK 157,000 to each of the other members of the Audit Committee, with SEK 126,000 to the chairman of the Remuneration Committee and with SEK 100,000 to each of the other members of the Remuneration Committee.
A prerequisite for obtaining an allotment is that the Board member is elected by the General Meeting and is not employed by the company.
The following Board members were re-elected: Mr Leif Östling, Ms Lena Treschow Torell, Mr Peter Grafoner, Mr Lars Wedenborn, Mr Joe Loughrey, Mr Jouko Karvinen, Mr Baba Kalyani, Mr Hock Goh and Ms Marie Bredberg. The following Board members where newly elected: Ms Nancy Gougarty and Mr Alrik Danielson.
Mr Leif Östling was elected Chairman of the Board.
The Meeting approved the Board’s proposal regarding principles of remuneration for Group Management and the Board’s proposal for a resolution on SKF’s Performance Share Programme 2015. The programme covers not more than 225 senior managers and key employees in the SKF Group with an opportunity to be allotted, free of charge, SKF B shares. Under the programme, not more than 1,000,000 shares, corresponding to around 0.2% of the total number of outstanding shares, may be allotted. The number of shares that may be allotted must be related to the average TVA development during 2015-2017 compared to the actual TVA in 2014.
The Meeting approved the proposal presented regarding the Nomination Committee.
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SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2014 were SEK 70 975 million and the number of employees was 48 593. www.skf.com
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