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Ericsson's Annual General Meeting 2011

April 13, 2011 - Stockholm, Sweden

At Ericsson's (NASDAQ: ERIC) Annual General Meeting (AGM) today, theproposals bythe Board of Directors and the Nomination Committee were approved.

DividendThe proposed dividend of SEK 2.25 was adopted. The record day was set toMonday,April 18, 2011. Payment from Euroclear Sweden AB is expected to take placeonThursday, April 21, 2011.

Adoption of the Profit and Loss Statement and the Balance SheetThe AGM resolved to adopt the Profit and Loss Statement and the BalanceSheetfor the Parent Company as well as the Consolidated Profit and LossStatement andthe Consolidated Balance Sheet for the Group for 2010. The members of theBoardof Directors and the President were discharged from liability for thefiscalyear 2010.

Board of DirectorsIn accordance with the proposal by the Nomination Committee, Leif Johanssonwaselected new Chairman of the Board of Directors and Roxanne S. Austin, SirPeterL. Bonfield, Börje Ekholm, Ulf J. Johansson, Sverker Martin-Löf,NancyMcKinstry, Anders Nyrén, Carl-Henric Svanberg, Hans Vestberg andMichelangeloVolpi were re-elected to the Board. Jacob Wallenberg was elected new memberofthe Board of Directors.

Board of Directors' FeesThe AGM approved the Nomination Committee's proposal for a yearly fee totheChairman in the amount of SEK 3,750,000 (unchanged), and fees to non-employedmembers of the Board in the amount of SEK 825,000 each (previously SEK750,000).

Committee work fees for non-employed members of the Committees wereapproved asfollows; SEK 350,000 to the Chairman of the Audit Committee and SEK 250,000toeach of the other members of the Audit Committee (unchanged), SEK 200,000to theChairmen of the Finance and Remuneration Committee (previously SEK 125,000)andSEK 175,000 to each of the other members of the Finance and RemunerationCommittee (previously SEK 125,000).

The AGM approved the Nomination Committee's proposal to enable payment ofpartof the fees to the Directors, in respect of the Board assignment, in theform ofsynthetic shares.

Nomination CommitteeThe AGM also approved the proposals for the procedure on appointing themembersof the Nomination Committee and the assignment to the Committee.

AuditorPwC was elected auditor for one year.

Guidelines for RemunerationIn accordance with the Board of Directors' proposal, the AGM resolved toapprovethe guidelines for remuneration and other employment terms for seniormanagement.

Long-Term Variable Remuneration Program (LTV)In accordance with the Board of Directors' proposals, the AGM resolved asfollows.

LTV 2011 and transfer of treasury stock * Implementation of LTV 2011, with the same structure as previousprograms but with new performance criteria in the executive plan. The programcomprises in total 23.4 million B shares and includes the Stock Purchase Plan forall employees, the Key Contributor Retention Plan and the ExecutivePerformance Stock Plan. All plans are based on the employees' own investment inEricsson shares. If the shares are retained for a period of three years and the employment remains, the participants obtain matching shares from the company. The new performance criteria in the Executive PerformanceStock Plan include Net Sales Growth, Operating Income Growth and CashConversion. Costs for the program are estimated to MSEK 972-1,682.

* Transfer of 19.4 million B shares during the period November 2011 -November 2015, free of consideration, to employees covered by the terms of theLTV 2011.

* Transfer, prior to the AGM 2012, of 4 million B shares on NASDAQ OMX Stockholm at a price within the, at each time, prevailing priceinterval for the share, to cover payments for social security charges.

The Company has approximately 3.3 billion shares in issue. As per today,theCompany holds approximately 73 million shares in treasury. The 23.4 millionBshares allocated for LTV 2011 correspond to approximately 0.73 percent ofthetotal number of outstanding shares.

Transfer of treasury stock for previously decided LTV programs * Transfer of approximately 13.8 million B shares on NASDAQ OMX Stockholm prior to the AGM 2012 to cover certain payments, mainly social security charges that may occur in relation to the Long-Term VariableRemuneration Programs 2007, 2008, 2009 and 2010.

Amendment of the Articles of AssociationThe AGM resolved in accordance with the Board of Directors' proposal, on anamendment of the object's of the company in the Articles of Association(§ 2),to adjust to the Company's strategy to expand into new industry segments,suchas governments, health industry, transport, utilities and mobile money.

Proposal on voting rightsThe AGM resolved not to approve Einar Hellbom's proposal to delegate to theBoard of Directors to review and present to the next AGM how the shares aretobe given equal voting rights.

Notes to editors:

Our multimedia content is available at the broadcast

Ericsson is the world's leading provider of technology and services totelecomoperators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, andprovides support for networks with over 2 billion subscribers and has theleading position in managed services. The company's portfolio comprisesmobileand fixed network infrastructure, telecom services, software, broadband andmultimedia solutions for operators, enterprises and the media industry. TheSonyEricsson and ST-Ericsson joint ventures provide consumers with feature-richpersonal mobile devices.

Ericsson is advancing its vision of being the "prime driver in an all-communicating world" through innovation, technology, and sustainablebusinesssolutions. Working in 175 countries, more than 90,000 employees generatedrevenue of SEK 203.3 billion (USD 28.2 billion) in 2010. Founded in 1876withthe headquarters in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX,Stockholm and NASDAQ New York.

Press release as PDF:

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Source: Ericsson via Thomson Reuters ONE



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