ABB Says Shareholders Approve All Proposals At AGM - Quick Facts

(RTTNews) - Swiss engineering firm ABB Ltd (ANN.L, ABB) said that its shareholders have approved all proposals at the Annual General Meeting or AGM. A total of 869 shareholders attended the AGM, representing 81.2 percent of the total share capital with a right to vote.

ABB's shareholders elected Jennifer Xin-Zhe Li, Geraldine Matchett and Gunnar Brock to join the Board, and re-elected Peter Voser as member and Chairman of the Board.

Jacob Wallenberg, Matti Alahuhta, David Constable, Frederico Fleury Curado, Lars Förberg, David Meline and Satish Pai were re-elected for another term, while Ying Yeh and Louis Hughes decided not to stand for re-election.

The shareholders also voted for the proposed Compensation Committee members.

Further, the shareholders supported a ninth consecutive dividend increase to CHF 0.78 per share, up from CHF 0.76 last year. The dividend payment in Switzerland is planned for April 6, 2018.

The shareholders have also approved the management report, the consolidated financial statements and the annual financial statements for 2017.

In a binding vote, they approved the maximum aggregate compensation of the Board of Directors for the 2018-2019 term of office and of the Executive Committee for the 2019 financial year. In a non-binding vote, they also voted in favor of the compensation report for 2017.

In addition, the shareholders approved the change of auditors and elected KPMG AG, Zurich, as auditors for financial year 2018.