Annual General Meeting of AB Volvo4/4/17
The income statement and balance sheet as well as the consolidated income statement and the consolidated balance sheet were adopted. In accordance with the Board of Directors’ motion, it was resolved that a dividend of SEK 3.25 per share would be paid to the shareholders. April 6, 2017, was decided as the record date for the right to receive dividends. Disbursement of the dividend by Euroclear Sweden AB is scheduled to occur on Tuesday April 11, 2017.
The Board Members, Board Deputies and the President were discharged from liability for their administration during the 2016 fiscal year.
Matti Alahuhta, Eckhard Cordes, James W. Griffith, Martin Lundstedt, Kathryn V. Marinello, Martina Merz, Hanne de Mora, Håkan Samuelsson, Helena Stjernholm, Carl-Henric Svanberg and Lars Westerberg were reelected as members of the Board. Carl-Henric Svanberg was reelected 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 3,400,000 and each of the other members SEK 1,000,000 with the exception of the President who does not receive a director’s fee. In addition, the Chairman of the Audit Committee was allocated SEK 350,000, the other members of the Audit Committee SEK 160,000 each and the Chairman of the Remuneration Committee was allocated SEK 140,000 and the other members of the Remuneration Committee SEK 105,000 each.
The Chairman of the new Volvo CE-committee was allocated SEK 175,000 and the other members of the Volvo CE‑committee SEK 150,000 each.
Bengt Kjell, representing AB Industrivärden, Lars Förberg, representing Cevian Capital, Yngve Slyngstad, representing Norges Bank Investment Management, Pär Boman, representing Handelsbanken, SHB Pension Fund, SHB Employee Fund, SHB Pensionskassa and Oktogonen, 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 Meeting also adopted the Election Committee’s motion to amend the Instructions for the AB Volvo Election Committee. The change entails an adaptation to the new rules on auditors and audit, which came into effect during 2016.
A remuneration policy for senior executives was adopted in accordance with the Board of Directors’ motion.
April 4, 2017
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