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ABB shareholders approve all proposals at 2024 Annual General Meeting

ABB Press Release.   A total of 623 shareholders attended the meeting who, together with the independent proxy, represented 57.7 percent of the total share capital with a right to vote.

The shareholders supported the proposed distribution of an increased dividend of CHF 0.87 per share. The dividend payment in Switzerland is planned for March 27, 2024. The shareholders also approved the management report, the consolidated financial statements and the annual financial statements for 2023. Furthermore, the shareholders granted discharge to the Board of Directors and the persons entrusted with management for the financial year 2023.

Peter Voser was confirmed as Chairman of the company’s Board of Directors. Johan Forssell and Mats Rahmström were elected as new members to the Board while Jacob Wallenberg and Gunnar Brock did not stand for re-election as announced previously. All other members of the Board were re-elected for another term: David Constable, Frederico Fleury Curado, Lars Förberg, Denise C. Johnson, Jennifer Xin-Zhe Li, Geraldine Matchett and David Meline.

In addition, shareholders approved the maximum aggregate amount of compensation of the Board of Directors for the 2024–2025 term of office and of the Executive Committee for the 2025 financial year. In a non-binding consultative vote, the shareholders voted in favor of the compensation report and of the sustainability report for 2023, the latter submitted to a shareholders’ vote for the first time as required by the revised Swiss Code of Obligations.

The final results of the Annual General Meeting are available on go.abb/agm. ABB will be reporting its first quarter results on April 18, 2024.

 

Source: ABB Press Release

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