April 23, 2020
Stockholm, Sweden, April 23, 2020: Atlas Copco AB on Thursday April 23 held its Annual General Meeting, chaired by Hans Stråberg, Chair of the Board of Directors.
The income statements and the balance sheets of the parent company and the Group were approved, together with the Board’s proposal for profit distribution. The Board of Directors and the President & CEO were discharged from liability for the financial year 2019.
The proposed dividend is SEK 3.50 per share. The record date for the dividend is April 27, 2020. The dividend is expected to be distributed by Euroclear Sweden AB on April 30, 2020.
Nine board members were elected. Staffan Bohman, Tina Donikowski, Johan Forssell, Sabine Neuss, Anna Ohlsson-Leijon, Mats Rahmström, Gordon Riske, Hans Stråberg and Peter Wallenberg Jr. Hans Stråberg was re-elected as Chair of the Board.
The Board of Directors’ fee was approved as follows:
A fee of SEK 2,325,000 to the Chair and SEK 740,000 to each of the other Board members not employed by the Company. A fee to the members of the Audit Committee consisting of SEK 315,000 to the Chair and SEK 200,000 to the other members of this committee. To the Chair of the Remuneration Committee a fee of SEK 125,000 and fees of SEK 90,000 each to the other members of this committee and further fees of SEK 100,000 to each Board member who, in addition to the above, participates in a committee in accordance with a decision of the Board of Directors.
The Annual General Meeting approved the proposal allowing Board members to receive half of the board fee in the form of synthetic shares and the remaining part in cash. The Annual General Meeting also approved that the obligation of the Company to pay an amount corresponding to the synthetic shares shall be hedged through the purchase of own series A shares.
The Annual General Meeting elected Ernst & Young AB as the Company’s auditing company.
The Annual General Meeting approved the proposal of the Board of Directors regarding guiding principles for remuneration to senior executives (CEO and other members of Group management) and a performance based personnel option plan for 2020.
The Annual General Meeting authorized the Board to decide on the purchase and transfer of own series A shares, in order to fulfill obligations related to the performance stock option plan for 2020, and to the part of the board fee that consists of synthetic shares. The Board was authorized to sell shares in order to fulfill obligations related to the performance stock option plans for 2015, 2016 and 2017, and to cover costs related to synthetic shares to the Board of Directors.
A statutory Board meeting was held after the Annual General Meeting. Staffan Bohman, Chair, Anna Ohlsson-Leijon, Johan Forssell and Hans Stråberg were elected to serve on the Audit Committee. Hans Stråberg, Chair, Staffan Bohman and Peter Wallenberg Jr were elected as members of the Remuneration Committee.
The speech to the shareholders by Atlas Copco’s President and CEO Mats Rahmström will be published on the Group's website https://www.atlascopcogroup.com/en/investor-relations/corporate-governance/annual-general-meeting/agm-2020 where the minutes from the Annual General Meeting will also be published.
Atlas Copco Group
Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind.
Atlas Copco is based in Stockholm, Sweden with customers in more than 180 countries and about 39 000 employees at year-end. Revenues of BSEK 104/10 BEUR in 2019.