Kinnevik AB (publ) ("Kinnevik") today held its Annual General Meeting (the "AGM"). The AGM resolved in accordance with all proposals of the Board and the Nomination Committee.
The AGM resolved to re-elect Dame Amelia Fawcett, Susanna Campbell, Wilhelm Klingspor, Brian McBride, Henrik Poulsen and Charlotte Strömberg as members of the Board and to elect Cecilia Qvist as new member of the Board. The AGM further elected Dame Amelia Fawcett as Chairman of the Board.
The AGM approved the 2019 Annual Report and resolved, in line with Kinnevik’s shareholder remuneration policy, to carry forward Kinnevik’s retained earnings and share premium for 2019.
The AGM resolved on the discharge of liability of the Board and the Chief Executive Officer for the 2019 financial year.
The AGM also resolved:
- To approve remuneration of the Board and auditor.
- To adopt new updated guidelines for remuneration to senior executives.
- To adopt a long-term share incentive plan for 2020 for all enployees in Kinnevik, including a resolution to amend Kinnevik’s Articles of Association, by introducing three new classes of incentive shares that in 2023 and 2025 are reclassifiable into class B shares, and transfering no more than 1,218,800 incentive shares to Kinnevik employees that decideds to participate in the plan.
- To secure the undertakings to deliver incentive shares to the participants in the 2020 long-term share incentive plan by authorising the Board to resolve on a directed issue of incentive shares to a bank, and immediately thereafter repurchase such shares, and also, to cover costs for the resolved long term incentive plans, authorise the Board to transfer own Class B shares.
- To amend Kinnevik’s Articles of Association to allow the Board to collect powers of attorney and decide that shareholders shall have the right to provide their votes before a General Meeting.
- To reject proposals from the shareholders.
At the AGM the Board informed that its proposal to authorise the Board to resolve on repurchases of own ordinary shares had been withdrawn.
At the constituent meeting of the Board following the AGM, Henrik Poulsen was appointed Deputy Chairman of the Board. The Board also formed an Audit Committee, a People & Remuneration Committee and a Risk, Compliance & Sustainability ("RCS") Committee. Charlotte Strömberg was appointed as Chairman of the Audit Committee, and Henrik Poulsen, Wilhelm Klingspor and Susanna Campbell were appointed members of the Audit Committee. Susanna Campbell was appointed Chairman of the People & Remuneration Committee, and Dame Amelia Fawcett and Cecilia Qvist were appointed members of the People & Remuneration Committee. Further, Dame Amelia Fawcett was appointed Chairman of the RCS Committee, and Brian McBride and Charlotte Strömberg were appointed members of the RCS Committee.
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Corporate Communication
Phone +46 (0)70 762 00 50
Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.