473 shareholders attended the 105th Annual General Meeting, representing 74.0% of the share capital.
Peter Löscher, Chairman of the Board of Directors, said: 'Today we can look back on a year in which we have worked very successfully. A year that also presented us with an extraordinary challenge in the form of US sanctions. Thanks to the quick and decisive reaction of all those involved, we were able to overcome this crisis very fast and ended the year with results that were in line with, or even better than, our forecasts.'
CEO Greg Poux-Guillaume added: 'Our early indicators do not show signs of an impending economic slowdown in our major markets. We therefore expect to continue our trend of organic growth and improved profitability in 2019.'
The shareholders approved the Sulzer Annual Report 2018, including the Annual Accounts and Consolidated Financial Statements as well as the appropriation of net profits. In addition, the shareholders approved Sulzer's Compensation Report in a consultative vote. An ordinary dividend of CHF 3.50 per share will be paid out. The ex-dividend date will be April 5, 2019. Discharge was granted to all members of the Board of Directors and the Executive Committee. KPMG was reelected for a one-year term as auditors. Proxy Voting Services was elected for a one-year term as the independent proxy.
Peter Löscher was reelected as member and Chairman of the Board of Directors for a one-year term. The shareholders reelected Matthias Bichsel, Lukas Braunschweiler, Mikhail Lifshitz, Marco Musetti, Gerhard Roiss and Hanne Birgitte Breinbjerg Sørensen as members of the Board of Directors for another one-year term of office.
The shareholders elected Marco Musetti, Gerhard Roiss and Hanne Birgitte Breinbjerg Sørensen and as members of the Nomination and Remuneration Committee, all for a one-year term of office.
After the Annual General Meeting, the Board of Directors elected Matthias Bichsel as its Vice Chairman and defined the new composition of all committees:
Nomination and Remuneration Committee: Gerhard Roiss (Chairman), Marco Musetti, Hanne Birgitte Breinbjerg Sørensen
Audit Committee: Hanne Birgitte Breinbjerg Sørensen (Chairwoman), Gerhard Roiss, Marco Musetti
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Sulzer AG published this content on 03 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 April 2019 12:21:07 UTC
Sulzer AG is a Switzerland-based company engaged in pumping solutions and rotating equipment maintenance, as well as separation, reaction and mixing technology for the oil and gas, power generation and wastewater treatment industries. The Company operates four business divisions: the Pumps Equipment division offers a wide range of pumping solutions and related equipment, including centrifugal pumps and agitators for the oil and gas industry, among others; the Rotating Equipment Services division offers repair and maintenance services for industrial gas and steam turbines, turbocompressors, generators, motors and pumps; the Chemtech division offers products and services for separation, reaction, liquid application and mixing technology, and the Applicator Systems division offers dispenser systems and liquid application systems for the dental, healthcare and beauty markets, among others. The Company operates numerous subsidiaries.
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