Business News

ABB shareholders approve all board proposals

Monday 02. May 2011 - New member elected to Board; Dividend raised to 0.60 Swiss francs

Shareholders of ABB, the leading power and automation technology group, have approved all proposals submitted by the Board of Directors to the company’s annual general meeting in Zurich today.
They elected Ying Yeh, Vice President and Chairperson of Nalco Company’s Greater China Region, as a new Board member. Bernd W. Voss did not stand for re-election. The other members of the Board were elected for a further annual term. The Board intends to reappoint Hubertus von Grünberg as its Chairman.
Shareholders voted to raise the dividend to 0.60 Swiss francs per share for 2010 from 0.51 francs in the prior year. They also approved the annual report, the consolidated financial statements and the annual financial statements for 2010.
In addition, shareholders approved the creation of new contingent share capital as well as the renewal of the company’s authorized share capital.
A total of 893 shareholders attended the annual general meeting and 59.9 percent of the total share capital was represented.