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ABB Shareholders Approve All Proposals at Annual General Meeting

Re-election of Chairman and all Board members
Tenth consecutive dividend increase approved
Board and EC compensation approved

News provided by ABB Ltd
May 03, 2019 10:20 KST

ZURICH--(Business Wire / Korea Newswire) May 03, 2019 -- The shareholders re-elected Peter Voser as member and Chairman of the Board. Jacob Wallenberg, Matti Alahuhta, Gunnar Brock, David Constable, Frederico Fleury Curado, Lars Förberg, Jennifer Xin-Zhe Li, Geraldine Matchett, David Meline and Satish Pai were re-elected for another term.

The shareholders supported a tenth consecutive dividend increase to CHF 0.80 per share, up from CHF 0.78 last year. The dividend payment in Switzerland is planned for May 8, 2019. The shareholders also approved the management report, the consolidated financial statements and the annual financial statements for 2018.

Furthermore, shareholders approved in a binding vote the maximum aggregate compensation of the Board of Directors for the 2019-2020 term of office and of the Executive Committee for the 2020 financial year. In addition, in a non-binding vote the shareholders voted in favor of the compensation report for 2018. Shareholders also approved the renewal of authorized share capital.

A total of 767 shareholders attended the Annual General Meeting, representing 79.86 percent of the total share capital with a right to vote.

The final results of the Annual General Meeting will be published on later today.

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader with a comprehensive offering for digital industries. With a history of innovation spanning more than 130 years, ABB is today a leader in digital industries with four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by its common ABB Ability™ digital platform. ABB’s market leading Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees.

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