Annual General Meeting of AB Volvo
At the Annual General Meeting of AB Volvo held on April 9, 2008, the Board’s proposal was approved to pay an ordinary dividend to the shareholders of SEK 5.50 per share.
Peter Bijur, Tom Hedelius, Leif Johansson, Finn Johnsson, Philippe Klein, Louis Schweitzer, Ying Yeh and Lars Westerberg were re-elected members of the Board of AB Volvo and Ravi Venkatesan was newly elected. Finn Johnsson was elected Board Chairman. Per-Olof Eriksson was not available for re-election.
The Board’s Chairman Finn Johnsson, Carl-Olof By, representing AB Industrivärden, Lars Förberg, representing Violet Partners LP, Anders Oscarsson, representing SEB funds/Trygg Försäkring and Thierry Moulonguet, representing Renault s.a.s. were elected members of the Election Committee. The Meeting resolved to adopt new guidelines for remuneration to senior executives. In addition, the Meeting resolved to adopt a new share-based incentive program during the second quarter of 2008 for senior executives in the Volvo Group. So that Volvo shall be able to meet its commitment in accordance with the program, with limited cash flow effect, the Meeting further resolved that Volvo may transfer own shares (treasury stock) to the participants in the program.