ABB shareholders approve all proposals at Annual General Meeting

  • Election of Board members and Chairman who stood for re-election
  • Lars Förberg elected as new member of the Board
  • David Constable, Frederico Fleury Curado and Ying Yeh elected to the Compensation Committee
  • Eighth consecutive dividend increase approved
  • Board and EC compensation approved
  • Board and management were granted discharge for financial year 2016

Peter Voser, Jacob Wallenberg, Matti Alahuhta, David Constable, Louis R. Hughes, Federico Fleury Curado, David Meline, Satish Pai and Ying Yeh were re-elected for another term. The shareholders elected Lars Förberg to join the Board. The shareholders also elected the proposed Compensation Committee members.

The shareholders supported an eighth consecutive dividend increase to CHF 0.76 per share, up from CHF 0.74 last year. The payout in Switzerland is expected for April 21, 2017. The shareholders also approved the management report, the consolidated financial statements and the annual financial statements for 2016.

Furthermore, shareholders approved in a binding vote the maximum aggregate compensation of the Board of Directors for the 2017–2018 term of office and of the Executive Committee for the 2018 financial year. In addition, the shareholders approved the compensation report for 2016 in a non-binding vote. The Board and the persons entrusted with management were granted discharge for financial year 2016.

Shareholders also approved a capital reduction through the cancellation of 46,595,000 shares repurchased under the share buyback program announced in September 2014 and the renewal of authorized share capital.

A total of 903 shareholders attended the Annual General Meeting, representing 78.7 percent of the total votable share capital.

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

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 132,000 employees. www.abb.com

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