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ABB holds 2014 annual general meeting
2014-5-3 ABB group press releases
- Fifth consecutive dividend increase
- Approval of revised articles of incorporation ahead of legal requirements
- Approval of the remuneration report
- Re-election of Chairman and Board Members who stood for re-election
- Election of Matti Alahuhta to Board and election of Compensation Committee
- 2/3 approval threshold for contingent capital not reached
The shareholders re-elected Hubertus von Grünberg as Chairman of the Board as well as all the other Board members who stood for re-election. In addition, Matti Alahuhta, a Finnish citizen, was elected as a new Board member. The shareholders also voted for the proposed compensation committee members.
The shareholders supported a fifth consecutive dividend increase to CHF 0.70 per share, up from CHF 0.68 last year.
The shareholders approved revisions to the articles of incorporation, particularly to comply with recent Swiss corporate governance rules implementing the “Minder Initiative”. The broad approval by 94% reflects the trust shareholders place in ABB’s approach to corporate governance.
Also approved was the remuneration report in a non-binding vote. The 2/3 threshold for the approval of additional contingent share capital was not reached.
A total of 888 shareholders attended the annual general meeting and 65.3 percent of the total share capital was represented.
