Nomination Committee announcement


According to Art. 13 of the current Articles of Association as well as according to Art. 3 of the Federal Ordinance on Excessive Compensation, the directors are elected each year to hold office until the following annual shareholders’ meeting. Directors may be re-elected.  

It is proposed the Ordinary General Meeting in Lugano to be chaired by Lakshmi C. Khanna, while Stefan Widegren will preside the Information Meeting in Stockholm.  

Fabio Cannavale, Leena Essén, Nicola Gerber, Christer Granskog, Lakshmi C. Khanna, Erik Lautmann, Ottonel Popesco and Stefan Widegren will stand for re-election.  

The Nomination Committee proposes that Fabio Cannavale, Leena Essén, Nicola Gerber, Christer Granskog, Lakshmi C. Khanna, Erik Lautmann, Ottonel Popesco and Stefan Widegren be re-elected as Directors for a further one-year term of office expiring at our ordinary general meeting to be held in 2015.  

The Nomination Committee furthermore proposes to elect Stefan Widegren as Chairman of the Board of Directors.  

With respect to the requirements in the Swedish Corporate Governance Code (the Code) that a majority of the directors elected by the shareholders’ meeting are to be independent of the company and its executive management and that at least two of this majority also are to be independent in relation to the company’s major shareholders, the Nomination Committee has carried out the following assessment:  

Christer Granskog, Lakshmi Khanna, Erik Lautmann, Nicola Gerber and Fabio Cannavale are all independent of the company and its executive management. Christer Granskog, Lakshmi Khanna, Erik Lautmann and Nicola Gerber are all also independent in relation to the company’s major shareholders.  

The Nomination Committee therefore concludes that all requirements of director independence as set out in the Code are met.  

Finally, and in accordance to Art. 7 of the Federal Ordinance on Excessive Compensation and with the Internal Regulations, the Nomination Committee proposes to elect the following Board members to be part of the Remuneration Committee for the year 2014/2015:  

Erik Lautmann, Chairman of the Committee and Independent Director,

Christer Granskog, Independent Director

Lakshmi Khanna, Independent Director  

Shareholders representing more than 45% of the votes support the above mentioned proposals made by the Nomination Committee.  

Reference is made to the motivated Nomination Statement available on www.cavotec.com.  

ENDS  

For more information, please contact nominations@cavotec.com


Attachments

Nomination Committee Statement 2014 - 20140318PUBLIC.pdf