Higher dividend, CEO Cadonau with dual function
The Annual General Meeting of Dormakaba Holding AG held on October 23, 2018 in Regensdorf ZH was attended by 521 shareholders. A total of 2,350,877 registered shares with voting rights were represented, representing 55.97% of the share capital entered in the Commercial Register. All motions were approved, as communicated by the company.
As a result of the increase in Group earnings, the Dormakaba-The Board of Directors proposed to the Annual General Meeting the payment of a dividend of Fr. 15 per share, an increase of Fr. 1 per share compared to the previous year. The AGM approved this distribution, which will be made entirely from capital reserves, according to the company. The AGM also approved the elections and re-elections to the Board of Directors, in each case for the proposed term of office of one year: Riet Cadonau was elected as a new member and Chairman of the Board of Directors and Jens Birgersson was elected as a new member of the Board of Directors. The existing Board members Rolf Dörig, Stephanie Brecht-Bergen, Daniel Daeniker, Karina Dubs-Kuenzle, Hans Gummert, John Heppner, Hans Hess and Christine Mankel were re-elected.
Riet Cadonau with double function
As already communicated, Ulrich Graf, after twelve years as Chairman of the Board of Directors, and Elton SK Chiu, member of the Board of Directors since 2010, did not stand for re-election. It is planned that Riet Cadonau will continue in his function as CEO of the Dormakaba Group for two to three years at the longest in parallel with his role as Chairman of the Board of Directors, according to the Dormakaba press release. Hans Hess will assume the newly created function of Lead Independent Director as well as the Vice Presidency. The existing members of the Compensation Committee Rolf Dörig, Hans Gummert and Hans Hess were also re-elected as proposed for a term of office of one year.
As part of the advisory vote, the AGM also approved the 2017/18 compensation report. Furthermore, the proposed maximum compensation for the Board of Directors until the 2019 AGM and the proposed maximum amount for the compensation of the Group Executive Committee for the 2019/20 financial year were approved.
Source: Press release Dormakaba
