Kinnevik AB, the tech investor with interest in Nigeria and other Rocket Internet companies has retained Tom Boardman as its chairman for the financial year of 2017.
Tom Boardman was re-elected at the company’s AGM.
The company said other members of the board including: Anders Borg, Dame Amelia Fawcett, Wilhelm Klingspor, Lothar Lanz, Erik Mitteregger, Mario Queiroz, John Shakeshaft and Cristina Stenbeck as members of the Board and to elect Cynthia Gordon and Henrik Poulsen as new members of the Board. The AGM further re-elected Tom Boardman as Chairman of the Board.
The AGM approved the 2016 Annual Report and resolved to distribute a cash dividend to the shareholders for the 2016 financial year of SEK 8.00 per share, with Friday 12 May 2017 as record date. The dividend is estimated to be paid out to the shareholders on Wednesday 17 May 2017. The last trading day in the Kinnevik share including the right to receive dividend will be Wednesday 10 May 2017, and the first trading day in the Kinnevik share not including a right to receive dividend will be Thursday 11 May 2017.
The AGM resolved on the discharge of liability of the Board and the Chief Executive Officer for the 2016 financial year.
The AGM also resolved:
- To re-elect the authorised accounting firm Deloitte AB as auditor for a term-of-office of four years, i.e. until the close of the Annual General Meeting 2021.
- To approve remuneration of the Board and auditor, and procedures for the Nomination Committee.
- To adopt guidelines for remuneration to senior executives.
- To adopt a long-term share based incentive plan for all employees in Kinnevik (except the participants in the long-term cash based incentive plan), and transfer of own Class B shares to the participants in the plan.
- To secure the undertakings to deliver shares to the participants in the long-term share based incentive plan through a directed issue of Class C shares to a bank, and immediately thereafter repurchase the same Class C shares.
- To adopt a long-term, cash based, incentive plan for employees that have a direct impact on, and are working almost exclusively with, Kinnevik’s private portfolio.
- To authorise the Board to resolve on repurchases of own shares, subject to that Kinnevik’s holding of own shares may not at any time exceed 10 per cent of the total number of shares in the company.
- To approve that the Board shall consist of no less than three and no more than twelve members elected by the shareholders’ meeting, and an amendment of the object of Kinnevik’s business to better reflect Kinnevik’s current investment operations and investment portfolio compositions, through amendments of the articles of association.
- To reject propsals from the shareholders.
- At the constituent meeting of the Board following the AGM, Anders Borg and Dame Amelia Fawcett were appointed Deputy Chairmen of the Board. The Board also formed an Audit Committee, a Remuneration Committee and a Governance, Risk and Compliance (“GRC”) Committee.
John Shakeshaft was appointed as Chairman of the Audit Committee, and Tom Boardman, Erik Mitteregger and Henrik Poulsen were appointed members of the Audit Committee. Dame Amelia Fawcett was appointed Chairman of the Remuneration Committee, and Tom Boardman and Erik Mitteregger were appointed members of the Remuneration Committee. Further, Dame Amelia Fawcett was appointed Chairman of the GRC Committee, and Cynthia Gordon and John Shakeshaft were appointed members of the GRC Committee
Further, Dame Amelia Fawcett was appointed Chairman of the GRC Committee, and Cynthia Gordon and John Shakeshaft were appointed members of the GRC Committee.
Kinnevik was mute on the appointment of a substantive CEO for the company.
