GOTHENBURG, Sweden, April 4,
2023 /PRNewswire/ -- AB Volvo held its Annual
General Meeting on April 4, 2023. The
Meeting was held at Konserthuset in Göteborg, Sweden, with the option for shareholders to
exercise their voting rights by advance voting (postal voting).
Presentations by the Chairman of the Board and the President and
CEO describing the work of the Board and the Volvo Group's
operations are available on AB Volvo's website
www.volvogroup.com.
The Annual General Meeting adopted the income statement and
balance sheet as well as the consolidated income statement and the
consolidated balance sheet. In accordance with the Board's
proposal, the Meeting resolved that an ordinary dividend of
SEK 7.00 per share and an
extraordinary dividend of SEK 7.00
per share should be paid to the shareholders. April 6, 2023 was decided as the record date for
the right to receive dividends.
The Board Members, Board Deputies and the President and CEO were
discharged from liability for their administration during the 2022
fiscal year.
Matti Alahuhta, Jan Carlson, Eric
Elzvik, Martha Finn Brooks,
Kurt Jofs, Martin Lundstedt, Kathryn V. Marinello, Martina Merz, Helena
Stjernholm and Carl-Henric
Svanberg were re-elected as members of the Board. Bo Annvik
was elected as new member of the Board. Carl-Henric Svanberg was re-elected 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 3,925,000 and each of the other members
SEK 1,175,000 with the exception of
the President and CEO who does not receive a director's fee.
Further, the Chairman of the Audit Committee was allocated
SEK 445,000, the other members of the
Audit Committee SEK 250,000 each and
the Chairman of the Remuneration Committee was allocated
SEK 175,000 and the other members of
the Remuneration Committee SEK
130,000 each. In addition, the Chairman of the Volvo CE
Transformation Committee was allocated SEK
300,000 and the other members of the Volvo CE Transformation
Committee SEK 200,000 each.
The auditing firm Deloitte AB was re-elected as Auditor for the
period until the close of the Annual General Meeting 2024, in
accordance with the Election Committee's proposal and the Board's
and the Audit Committee's recommendation.
Pär Boman (AB Industrivärden), Anders
Oscarsson (AMF and AMF Funds), Magnus Billing (Alecta), Anders Algotsson (AFA
Insurance) 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 Annual General Meeting approved the Board's remuneration
report. Guidelines for remuneration to the Volvo Group Executive
Board were adopted in accordance with the Board's proposal. The
Meeting resolved to approve the Board's proposed adoption of a new
long-term incentive plan.
Minutes from the Meeting including complete resolutions will be
available on AB Volvo's website www.volvogroup.com.
April 4, 2023
Journalists wanting further information, please
contact:
Claes Eliasson, Volvo Group Media
Relations, +46 76 553 72 29
For more information, please visit
volvogroup.com For frequent updates, follow us
on Twitter: @volvogroup
The Volvo Group drives prosperity through transport and
infrastructure solutions, offering trucks, buses, construction
equipment, power solutions for marine and industrial applications,
financing and services that increase our customers' uptime and
productivity. Founded in 1927, the Volvo Group is committed to
shaping the future landscape of sustainable transport and
infrastructure solutions. The Volvo Group is headquartered in
Gothenburg, Sweden, employs more
than 100,000 people and serves customers in almost 190 markets. In
2022, net sales amounted to SEK 473
billion (EUR 45 billion).
Volvo shares are listed on Nasdaq Stockholm.
The following files are available for download:
https://mb.cision.com/Main/39/3746841/1968996.pdf
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SOURCE AB Volvo