Shareholders approve all Board proposals at first Autoneum AGM

The first Annual General Meeting of Autoneum Holding Ltd was attended by 330 shareholders today at the Eulachhalle in Winterthur, Switzerland. They approved all Board proposals by a large majority.

In his welcoming address Board Chairman Hans-Peter Schwald confirmed that Autoneum looks back on an overall positive first year of independence. One year ago the Rieter General Meeting of shareholders had overwhelmingly approved the Board proposal to split off the Automotive Systems division as an independent listed company. The Board Chairman is now confident that Autoneum will continue to profit from this consistent focusing strategy.

CEO Martin Hirzel and CFO Urs Leinhäuser afterwards presented their review of the 2011 business year and prospects for 2012 as a whole. Shareholders approved the Annual Report with the annual accounts and consolidated financial statements for 2011, and formal discharge of the Board of Directors and Group Executive Board members for the business year 2011. They furthermore approved by a large majority the Board proposal for appropriation of profit.

Consul­tative approval of the Compensation Report was confirmed by more than 90% of those present. KPMG AG, Zurich, were elected as statutory auditors for 2012.