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Ericsson's Annual General Meeting 2013
Telefonaktiebolaget LM Ericsson's Annual General Meeting ("AGM") was held on April 9, 2013 in Stockholm.
Dividend
The proposed dividend of SEK 2.75 per share was approved by the AGM. The record day for dividend was set to Friday, April 12, 2013. Payment from Euroclear Sweden AB is expected to take place on Wednesday, April 17, 2013.
Adoption of the Profit and Loss Statements and the Balance Sheets
The AGM resolved to adopt the Profit and Loss Statement and the Balance Sheet for the Parent Company as well as the Consolidated Profit and Loss Statement and the Consolidated Balance Sheet for the Group for 2012. The members of the Board of Directors and the President were discharged from liability for the fiscal year 2012.
Board of Directors
In accordance with the proposal of the Nomination Committee, Leif Johansson was reelected Chairman of the Board of Directors. Roxanne S. Austin, Sir Peter L. Bonfield, Börje Ekholm, Alexander Izosimov, Ulf J. Johansson, Sverker Martin-Löf, Hans Vestberg and Jacob Wallenberg were re-elected to the Board and Nora Denzel, Kristin Skogen Lund and Pär Östberg were elected new members of the Board of Directors.
Board of Directors' Fees
The AGM resolved, in accordance with the Nomination Committee's proposal, on a yearly fee to the Chairman of the Board of SEK 3,850,000 (previously SEK 3,750,000), and fees to non-employed members of the Board, elected by the AGM, of SEK 900,000 each (previously SEK 875,000 each). Fees for Committee work to non-employed members of the Committees, elected by the AGM, were approved as follows (unchanged); SEK 350,000 to the Chairman of the Audit Committee and SEK 250,000 to each of the other members of the Audit Committee, SEK 200,000 to each of the Chairmen of the Finance and Remuneration Committee and SEK 175,000 to each of the other members of the Finance and Remuneration Committee.
The AGM approved the Nomination Committee's proposal to enable payment of part of the fees to the members of the Board for the Board assignment, in the form of synthetic shares.
Auditor
The AGM elected PricewaterhouseCoopers AB auditor for the period up until the end of the AGM 2014.
Guidelines for Remuneration to Group Management
In accordance with the Board of Directors' proposal, the AGM resolved to approve the Guidelines for remuneration to Group Management.
Long-Term Variable Remuneration Program (LTV)
In accordance with the Board of Directors' proposals, the AGM resolved as follows:
LTV 2013 and transfer of treasury stock
The Company has approximately 3.3 billion shares in issue. As per today, the Company holds approximately 82,193,250 million shares in treasury. The 32.2 million B shares allocated for LTV 2013 now correspond to approximately 1 percent of the total number of outstanding shares.
Transfer of treasury stock for previously resolved LTV programs
Proposal to amend the articles of association
The AGM resolved not to approve Carl Axel Bruno's proposal to add wording to the articles of association that at least one fourth of the Board members shall be men and at least one fourth of the Board members shall be women.
Proposal on voting rights
The AGM resolved not to approve Einar Hellbom's proposal to delegate to the Board of Directors to review and present to the next AGM how the shares are to be given equal voting rights.
Resolution on delegations to the Board of Directors
The AGM resolved not to approve the proposals from Thorwald Arvidsson to delegate to the Board to take action to create a shareholders' association in the company, to write to the Government of Sweden, requesting a commission to investigate changed legislation regarding abolishment of voting power differences, and to prepare a proposal regarding Board representation for small and midsize shareholders.
NOTES TO EDITORS
Download high-resolution photos and broadcast-quality video at www.ericsson.com/press
Ericsson is a world-leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today 40 percent of the world's mobile traffic goes through Ericsson networks and we support customers' networks servicing more than 2.5 billion subscriptions.
We are more than 110,000 people working with customers in more than 180 countries. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2012 the company's net sales were SEK 227.8 billion (USD 33.8 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
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