The Annual General Meeting of Shareholders (AGM) in
Gerteric Lindquist, Managing Director and Group CEO, gave a speech in which he commented on the 2019 financial year and the start of 2020. He described NIBE’s increasingly extensive internationalisation in all three business areas and the importance of continuous product development and growth. He also emphasised the significance of sticking with the success factors that have formed the basis of the Group’s achievements so far and continuing to expand the sustainability targets, which are expected to become increasingly important in the future.
The items resolved by the AGM included the following:
Appropriation of profits
It was resolved to carry forward the profits at the disposal of the shareholders. It was also noted that the Board resolved to withdraw the previously announced dividend proposal of
Members of the Board
Re-elected to the Board were Georg Brunstam, Gerteric Lindquist,
Auditors
Adoption of the income statement and balance sheet and discharge from liability
The AGM adopted the consolidated and parent income statements and balance sheets and discharged the Board and CEO from liability for the 2019 financial year.
Fees to the Board of Directors and auditors
The AGM resolved on Board and audit fees as follows:
Fees to the Board amount to a total of
Amendment of the Articles of Association
The AGM resolved to amend the Articles of Association both regarding the record date for participation in the AGM and the pre-emption clause related to the A shares.
Mandate for the Board to issue new shares in conjunction with acquisitions
It was resolved at the AGM to authorise the Board of Directors of
The Board’s guidelines on remuneration and other terms of employment for senior executives
The AGM approved the Board’s proposal that senior executives shall, as an incentive, be entitled to a variable salary component that is payable if set targets are achieved. The variable component shall be restricted to four months’ salary. The possibility also exists to receive an additional month’s salary on condition that this additional payment plus another monthly salary paid as a variable bonus is used to purchase NIBE shares. A further condition for entitlement to receive this additional month’s remuneration is that the shares thus purchased are retained for at least three years. Under normal circumstances, shares acquired in this way shall be purchased on one occasion each year in February/March and the purchase shall be subject to the relevant market abuse regulations. No incentive programme is offered to the CEO. The Board may depart from these guidelines if there are specific reasons for doing so in an individual case.
For more information: Gerteric Lindquist, CEO and
From its beginnings in the Småland city of Markaryd nearly 70 years ago, NIBE has grown into an international company with 17,300 (16,900) employees and a global presence. From the very start, the company has been driven by a strong culture of entrepreneurship and a passion for responsible business operation. Its success factors are long-term investments in sustainable product development and strategic acquisitions. Combined, these factors have brought about strong, targeted growth, which generated sales of just over
NIBE has been listed under the name
Attachment
- PM-Kommunike2020-NIBEGB
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