Press Release from the Election Committee of AB Volvo
March 10 2008 - 8:21AM
Business Wire
Regulatory News: In preparation of the Annual General Meeting of AB
Volvo (NASDAQ:VOLV) (STO:VOLVA) (STO:VOLVB) on 9 April 2008,
Volvo's Election Committee has decided to propose that Peter Bijur,
Tom Hedelius, Leif Johansson, Philippe Klein, Louis Schweitzer,
Ying Yeh, Lars Westerberg and the Chairman of the Board, Finn
Johnsson, be re-elected as members of the Board of Directors.
Per-Olof Eriksson has announced that he is not available for
re-election. A survey among Volvo's shareholders indicates that
owners representing more than 50 percent of the votes in the
company support the proposal of the Election Committee. The
Election Committee started at an early stage a search for a
suitable candidate to propose as a new board member. After a global
and deep search as well as the thorough review of several high
talented candidates, the EC was unanimously ready to propose the
election of one of these candidates at the upcoming AGM. However,
the selected candidate who has confirmed his interest to join the
Volvo Board could not fully complete at this stage the internal
process to get the necessary authorization to confirm his
candidacy. In these circumstances the EC remains ready to support
the nomination of the selected candidate if he can clear his
internal process before the AGM. If so this will be communicated
through a press release. If not, the EC would hand over the task to
the next EC. AB Volvo published on 5 March the notice of the AGM.
The Election Committee's proposals are the following in relation to
the proposed agenda of the AGM: Item 12. Determination of the
number of members and deputy members of the Board of Directors to
be elected by the Meeting The Election Committee proposes eight
members and no deputy members. Item 13. Determination of the
remuneration to be paid to the Board of Directors The Election
Committee proposes that the individual fees shall remain on the
same level as 2007. The Election Committee accordingly proposes
that the Chairman of the Board is awarded SEK 1,500,000 and each of
the other members SEK 500,000 with the exception of the President.
It is further proposed that the Chairman of the Audit Committee is
awarded SEK 250,000 and the other two members of the Audit
Committee SEK 125,000 each and the members of the Remuneration
Committee SEK 75,000 each. Item 14. Election of the Board of
Directors The Election Committee proposes the re-election of Peter
Bijur, Tom Hedelius, Leif Johansson, Finn Johnsson as Chairman,
Philippe Klein, Louis Schweitzer, Lars Westerberg and Ying Yeh.
2008-03-10 This information was brought to you by Cision
http://newsroom.cision.com Regulatory News: In preparation of the
Annual General Meeting of AB Volvo (NASDAQ:VOLV) (STO:VOLVA)
(STO:VOLVB) on 9 April 2008, Volvo�s Election Committee has decided
to propose that Peter Bijur, Tom Hedelius, Leif Johansson, Philippe
Klein, Louis Schweitzer, Ying Yeh, Lars Westerberg and the Chairman
of the Board, Finn Johnsson, be re-elected as members of the Board
of Directors. Per-Olof Eriksson has announced that he is not
available for re-election. A survey among Volvo�s shareholders
indicates that owners representing more than 50 percent of the
votes in the company support the proposal of the Election
Committee. The Election Committee started at an early stage a
search for a suitable candidate to propose as a new board member.
After a global and deep search as well as the thorough review of
several high talented candidates, the EC was unanimously ready to
propose the election of one of these candidates at the upcoming
AGM. However, the selected candidate who has confirmed his interest
to join the Volvo Board could not fully complete at this stage the
internal process to get the necessary authorization to confirm his
candidacy. In these circumstances the EC remains ready to support
the nomination of the selected candidate if he can clear his
internal process before the AGM. If so this will be communicated
through a press release. If not, the EC would hand over the task to
the next EC. AB Volvo published on 5 March the notice of the AGM.
The Election Committee�s proposals are the following in relation to
the proposed agenda of the AGM: Item 12. Determination of the
number of members and deputy members of the Board of Directors to
be elected by the Meeting The Election Committee proposes eight
members and no deputy members. Item 13. Determination of the
remuneration to be paid to the Board of Directors The Election
Committee proposes that the individual fees shall remain on the
same level as 2007. The Election Committee accordingly proposes
that the Chairman of the Board is awarded SEK 1,500,000 and each of
the other members SEK 500,000 with the exception of the President.
It is further proposed that the Chairman of the Audit Committee is
awarded SEK 250,000 and the other two members of the Audit
Committee SEK 125,000 each and the members of the Remuneration
Committee SEK 75,000 each. Item 14. Election of the Board of
Directors The Election Committee proposes the re-election of Peter
Bijur, Tom Hedelius, Leif Johansson, Finn Johnsson as Chairman,
Philippe Klein, Louis Schweitzer, Lars Westerberg and Ying Yeh.
2008-03-10 This information was brought to you by Cision
http://newsroom.cision.com
AB Volvo (MM) (NASDAQ:VOLV)
Historical Stock Chart
From Apr 2024 to May 2024
AB Volvo (MM) (NASDAQ:VOLV)
Historical Stock Chart
From May 2023 to May 2024