Annual General Meeting of AB SKF

Rhea-AI Summary

SKF (SKFRY) held its Annual General Meeting on April 1, 2025, where shareholders approved key resolutions. The meeting approved a dividend of SEK 7.75 per share, payable to shareholders recorded in the share register by April 3, 2025.

The Board saw the re-election of ten members and the new addition of Mats Rahmström. Hans Stråberg was elected Chair, while Håkan Buskhe and Mats Rahmström were appointed Vice Chairs. The meeting established two committees: Audit and Sustainability, and People Committee.

Shareholders approved new Board compensation structures, including SEK 3,025,000 for the Chair and SEK 1,515,000 for Vice Chairs. The meeting also approved SKF's Performance Share Programme 2025, allowing the allocation of up to 1,000,000 SKF B shares to senior managers based on Total Value Added targets and CDP Climate Change score performance.

Positive

• Approved dividend of SEK 7.75 per share for shareholders
• Implementation of Performance Share Programme 2025 without share dilution
• Established new Audit and Sustainability Committee showing focus on ESG

Negative

• None.

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

This information was brought to you by Cision http://news.cision.com

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

The following files are available for download:

https://mb.cision.com/Main/637/4128549/3361127.pdf	20250401 Annual General Meeting of AB SKF
https://news.cision.com/skf/i/tidal-turbine,c3393781	Tidal turbine

View original content:https://www.prnewswire.com/news-releases/annual-general-meeting-of-ab-skf-302417162.html

SOURCE SKF

FAQ

What dividend did SKF (SKFRY) approve for shareholders in 2025?

SKF approved a dividend of SEK 7.75 per share, payable to shareholders recorded in the register by April 3, 2025.

How many SKF B shares are allocated in the 2025 Performance Share Programme?

The programme allows for allocation of up to 1,000,000 SKF B shares to senior managers and key employees.

What is the new Board Chair compensation for SKF (SKFRY) in 2025?

The Board Chair will receive SEK 3,025,000, with 30% converted to variable Board fee (synthetic shares).

Who are the new Vice Chairs of SKF's Board for 2025?

Håkan Buskhe and Mats Rahmström were appointed as Vice Chairs of the Board.