At the Annual General Meeting (AGM) in Skandinaviska Enskilda Banken AB (publ) this Thursday the board members Signhild Arnegård Hansen, Annika Falkengren, Urban Jansson, Tuve Johannesson, Birgitta Kantola, Tomas Nicolin, Jesper Ovesen, Carl Wilhelm Ros, Jacob Wallenberg and Marcus Wallenberg were re-elected. Johan H. Andresen, Jr. was elected as new member of the Board. The AGM re-elected Marcus Wallenberg as Chairman of the Board.
The AGM approved a dividend of SEK 1.50 per share (1.00) and Tuesday 29 March, 2011, as record date for the dividend.
The Director's fee was set at SEK 8,480,000 in accordance with the Nomination Committee's proposal. The fee will be distributed as follows: SEK 2,250,000 to the Chairman of the Board and SEK 4,230,000 to be distributed among other Directors elected by the AGM who are not employed by the Bank, with SEK 540,000 each to the Deputy Chairmen and SEK 450,000 each to other Board members, and a total fee of SEK 2,000,000 for committee work.
The committee work fee is split accordingly: Risk and Capital Committee, SEK 510,000 to the Chairman and SEK 325,000 to other member, Audit and Compliance Committee, SEK 387,500 to the Chairman and SEK 195,000 to other member and Remuneration and Human Resources Committee, SEK 387,500 to the Chairman and SEK 195,000 to other member. No fee for committee work is distributed to the Chairman of the Board or employees of the Bank.
The AGM approved the Board of Director's proposal concerning guidelines for salary and other remuneration to the President and members of the Group Executive Committee. The guidelines comply with the guidelines for remuneration that were approved by SEB's AGM 2010. The guidelines also comply with the Swedish Financial Supervisory Authority regulations as well as the Swedish Corporate Governance Code and are in line with international regulations.
The AGM approved the Board of Director's proposal concerning two long-term equity based programmes for 2011; a Share Savings Programme for all employees and a Share Matching Programme for approx. 500 selected senior managers and key employees. Participation in the Share Savings Programme and the Share Matching Programme requires own investments. The Share Matching Programme is performance based with predetermined quantitative performance criteria.
The AGM approved the Board of Director's proposal concerning the acquisition and sale of the Bank's own shares, for the securities business, for long-term equity based programmes and for capital purposes.
The decisions, as well as the speeches given at the AGM, can be read in full at www.sebgroup.com.
At the statutory Board meeting following the AGM, Tuve Johannesson and Jacob Wallenberg were appointed Deputy Chairmen.
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Ola Kallemur, Group Press Officer
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SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in 20 countries worldwide. On 31 December 2010, the Group's total assets amounted to SEK 2,180bn while its assets under management totalled SEK 1,399bn. The Group has about 17,000 employees. Read more about SEB at www.sebgroup.com.