Report from Atlas Copco’s Annual General Meeting 2023
April 27, 2023
Nacka, Sweden, April 27, 2023: Atlas Copco AB on Thursday April 27 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 2022.
The proposed dividend of SEK 2.30 per share is to be paid in two instalments. The first instalment amount will be SEK 1.15 and the second instalment amount will be SEK 1.15. The record date for the first instalment is May 2, 2023 and for the second instalment October 20, 2023. The first instalment is expected to be distributed by Euroclear on May 5, 2023 and the second instalment on October 25, 2023.
Eight Board members were elected. Johan Forssell, Heléne Mellquist, Anna Ohlsson-Leijon, Mats Rahmström, Gordon Riske, Hans Stråberg, Peter Wallenberg Jr and Jumana Al-Sibai. Hans Stråberg was re-elected as Chair of the Board.
The Board of Directors’ fee was approved as follows:
Remuneration of SEK 3,200,000 (3,100,000) to the chair and SEK 1,035,000 (1,000,000) each to the other Board members not employed by the Company. To the chair of the Audit Committee SEK 360,000 (350,000) and SEK 225,000 (220,000) each to the other members. To the chair of the Remuneration Committee SEK 140,000 (135,000) and SEK 105,000 (100,000) each to the other members, and remuneration of SEK 100,000 (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 re-elected Ernst & Young AB as the Company’s auditing company.
The Annual General Meeting approved the proposal of the Board of Directors remuneration report 2022 and a performance-based personnel option plan for 2023.
The Annual General Meeting authorized the Board to decide on the purchase of own series A shares, in order to fulfill obligations related to the performance based stock option plan for 2022 and 2023 and to the part of the board fee that consists of synthetic shares, and to transfer own series A shares to option holders under the performance based personnel option plan 2023. The Board was authorized to sell shares in order to fulfill obligations related to the performance stock option plans for 2017, 2018, 2019 and 2020 and to cover costs related to synthetic shares to the Board of Directors.
The Annual General Meeting also resolves to include a new paragraph in article 10 of the Articles of Association that enables the Board to decide upon attendance of persons, other than the Shareholders, at General Meetings of Shareholders.
A statutory Board meeting was held after the Annual General Meeting. Anna Ohlsson-Leijon, Chair, Johan Forssell and Hans Stråberg were elected to serve on the Audit Committee. Hans Stråberg, Chair, Gordon Riske and Peter Wallenberg Jr were elected as members of the Remuneration Committee.
The minutes from the Annual General Meeting will be published on the Company’s website: www.atlascopcogroup.com/agm
For more information please contact:
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. In 2022, Atlas Copco Group had revenues of BSEK 141 and at year end about 49 000 employees.