Annual General Meeting of AB SKF

GOTHENBURG, Sweden, April 1, 2025 /PRNewswire/ -- The Annual General Meeting of Aktiebolaget SKF was held on Tuesday, 1 April 2025.

The income statements and the balance sheets were adopted, together with the Board's proposal for distribution of dividend. A dividend of SEK 7.75 per share was approved. To be entitled to receive the dividend, shareholders must be recorded in the share register on Thursday, 3 April 2025.

The Board members and the CEO were discharged from liability for their administration of the company for the financial year 2024.

Hans Stråberg, Hock Goh, Geert Follens, Håkan Buskhe, Susanna Schneeberger, Rickard Gustafson, Beth Ferreira, Therese Friberg, Richard Nilsson and Niko Pakalén were reelected as Board members. Mats Rahmström was newly elected as a Board member.

Hans Stråberg was elected Chair of the Board. The Board has appointed Håkan Buskhe and Mats Rahmström as Vice Chairs of the Board. The Board has also decided to establish two Board Committees; an Audit and Sustainability Committee as well as a People Committee.

The Annual General Meeting resolved that the Board fee for 2025 shall be:

a.  SEK 3,025,000 to the Chair of the Board of Directors,

     SEK 1,515,000 to the Vice Chair(s) of the Board of Directors, and

     SEK 990,000 to each of the other Board members; and

b.  SEK 385,000 to the Chair of the Audit Committee,

     SEK 275,000 to each of the other members of the Audit Committee,

     SEK 220,000 to each of the Chairs of the other Committees, and

     SEK 165,000 to each of the other members of the other Committees;

30 percent of the Board fee (excluding the Committee fees) should be converted and consist of a variable Board fee (so-called synthetic shares). Complete terms for the variable Board fee (synthetic shares) are available on www.skf.com among the Board's compete proposals.

A special meeting fee of EUR 2,000 for travel within Europe and EUR 5,000 for intercontinental travel to a physical Board meeting in Sweden shall be paid to Board members residing outside of Sweden, and to Board members residing in Sweden for travel to a physical Board meeting outside of Sweden.

A prerequisite for obtaining remuneration is that the Board member is elected by the General Meeting and is not employed by the company.

The Annual General Meeting approved the Board's proposal to amend the Articles of Association to foremost adjust the term of office for the appointed auditor. Deloitte AB was elected auditor of the company for a period of one year until the end of the annual general meeting held during 2026.

The Annual General Meeting approved the Board's remuneration report and the Board's proposal for a resolution on SKF's Performance Share Programme 2025. The programme is proposed to cover senior managers and key employees in the SKF Group with an opportunity to be allotted, free of charge, SKF B shares. Under the programme, not more than in total 1,000,000 SKF B shares may be allotted. The allotment of shares shall be related to the level of achievement of the Total Value Added (TVA) target, as defined by the Board, and the SKF Group's CDP Climate Change score performance measure during the three-year programme period. The programme does not entail any dilution of the company's shares. The principal terms and guidelines of the programme can be found in the Board's proposal at www.skf.com.

Aktiebolaget SKF
      (publ)

For further information, please contact:

Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893; carl.bjernstam@skf.com
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; sophie.arnius@skf.com

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https://news.cision.com/skf/r/annual-general-meeting-of-ab-skf,c4128549

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