ABB Shareholders Approve All Proposals At Annual General Meeting
26 March 2020 - 9:04PM
Dow Jones News
The shareholders of ABB have approved all the proposals by the
company's Board of Directors at its 2020 Annual General Meeting
held in Dübendorf, Switzerland. The event took place under
extraordinary conditions, and in line with the COVID-19 Ordinance 2
of the Swiss Federal Council shareholders were not allowed to
attend in person. On March 9, 2020, ABB had already recommended
shareholders to give voting instructions to the independent proxy
in order to protect themselves and others. The independent proxy
represented 80.05 percent of the share capital with a right to
vote.
The shareholders supported the proposed distribution of a
dividend of CHF 0.80 per share with 99.81 percent of the votes. The
dividend payment in Switzerland is planned for April 1, 2020. The
shareholders also approved the management report, the consolidated
financial statements and the annual financial statements for
2019.
Peter Voser was confirmed as Chairman of the company's Board of
Directors with 97.60 percent of the votes. In addition, all other
existing members of the Board were re-elected for another term with
more than 92 percent of the votes: Jacob Wallenberg (Deputy
Chairman), Matti Alahuhta, Gunnar Brock, David Constable, Frederico
Fleury Curado, Lars Förberg, Jennifer Xin-Zhe Li, Geraldine
Matchett, David Meline and Satish Pai.
"ABB gave a resilient performance in 2019 in the face of
challenging market conditions and a significant transformation. Our
revenues and operating margin both improved slightly, and we made
significant progress in transforming our company during the year,"
said Peter Voser, Chairman of ABB's Board. "During these uncertain
times when the coronavirus crisis is changing how we all live and
work, we are responding quickly in order to protect our employees,
customers and partners and ensure business continuity."
Furthermore, shareholders approved in a binding vote with 98.88
percent the maximum aggregate compensation of the Board of
Directors for the 2020--2021 term of office and of the Executive
Committee for the 2021 financial year with 93.59 percent. In
addition, in a non-binding vote the shareholders voted in favor of
the compensation report for 2019 with 84.63 percent of the
votes.
The final results of the Annual General Meeting are available on
www.abb.com. ABB will be reporting first quarter results on April
28, 2020.
ABB (ABBN: SIX Swiss Ex) is a technology leader that is driving
the digital transformation of industries. With a history of
innovation spanning more than 130 years, ABB has four,
customer-focused, globally leading businesses: Electrification,
Industrial Automation, Motion, and Robotics & Discrete
Automation, supported by the ABB Ability(TM) digital platform.
ABB's Power Grids business will be divested to Hitachi in 2020. ABB
operates in more than 100 countries with about 144,000 employees.
www.abb.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200326005251/en/
CONTACT: Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com
Investor Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
SOURCE: ABB
Copyright Business Wire 2020
(END) Dow Jones Newswires
March 26, 2020 05:49 ET (09:49 GMT)
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