GÖTEBORG, Sweden, April 6,
2022 /PRNewswire/ -- AB Volvo held its Annual
General Meeting on April 6, 2022. The
Meeting was carried out pursuant to temporary legislation, through
postal voting only without any physical attendance. The Chairman
and the President & CEO describe the Volvo Group's situation in
presentations that are available on AB Volvo's website
www.volvogroup.com.
The Annual General Meeting adopted the income statement and
balance sheet as well as the consolidated income statement and the
consolidated balance sheet. In accordance with the Board of
Director's proposal, the Meeting resolved that an ordinary dividend
of SEK 6.50 per share and an
extraordinary dividend of SEK 6.50
per share should be paid to the shareholders. April 8, 2022 was decided as the record date for
the right to receive dividends.
The Board Members, Board Deputies and the President & CEO
were discharged from liability for their administration during the
2021 fiscal year.
Matti Alahuhta, Eric Elzvik, Martha Finn
Brooks, Kurt Jofs,
Martin Lundstedt, Kathryn V. Marinello, Martina Merz,
Hanne de Mora, Helena Stjernholm and Carl-Henric Svanberg were re-elected as members
of the Board. Jan Carlson was
elected as new member of the Board. Carl-Henric Svanberg was re-elected as Chairman
of the Board.
Individual fees payable to the members of the Board were adopted
as follows. The Chairman of the Board was allocated SEK 3,850,000 and each of the other members
SEK 1,150,000 with the exception of
the President & CEO who does not receive a director's fee.
Further, the Chairman of the Audit Committee was allocated
SEK 405,000, the other members of the
Audit Committee SEK 190,000 each and
the Chairman of the Remuneration Committee was allocated
SEK 170,000 and the other members of
the Remuneration Committee SEK
125,000 each. In addition, the Chairman of the Volvo CE
Transformation Committee was allocated SEK
200,000 and the other members of the Volvo CE Transformation
Committee SEK 170,000 each.
The auditor firm Deloitte AB was re-elected as Auditor for the
period until the close of the Annual General Meeting 2023, in
accordance with the Election Committee's proposal and the Audit
Committee's recommendations. The Auditors shall be paid in
accordance with approved invoices.
Pär Boman (AB Industrivärden), Anders
Oscarsson (AMF and AMF Funds), Magnus Billing (Alecta), Anders Algotsson
(AFA Insurance) and the Chairman of the Board were elected members
of the Election Committee. The Meeting resolved that no fees shall
be paid to the members of the Election Committee.
The Annual General Meeting approved the Board of Director's
remuneration report. A remuneration policy for senior executives
was adopted in accordance with the Board of Directors' motion.
The Annual General Meeting resolved not to approve shareholder
Carl Axel Bruno's proposal.
Minutes from the Meeting including complete resolutions will be
available on AB Volvo's website www.volvogroup.com.
April 6, 2022
Journalists wanting further information, please
contact:
Claes Eliasson, Volvo Group Media
Relations, +46 76 553 72 29
For more information, please visit volvogroup.com
For frequent updates, follow us on Twitter: @volvogroup
The Volvo Group drives prosperity through transport and
infrastructure solutions, offering trucks, buses, construction
equipment, power solutions for marine and industrial applications,
financing and services that increase our customers' uptime and
productivity. Founded in 1927, the Volvo Group is committed to
shaping the future landscape of sustainable transport and
infrastructure solutions. The Volvo Group is headquartered in
Gothenburg, Sweden, employs almost
95,000 people and serves customers in more than 190 markets. In
2021, net sales amounted to SEK 372
billion (EUR 37 billion).
Volvo shares are listed on Nasdaq Stockholm.
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SOURCE AB Volvo