Proxy Report - 05/04/2018
In general, Electrolux is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEMS 14a-14i, the (re-)election of the board of directors is proposed. In light of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Mr. Bert Nordberg (ITEM 14e).
Under ITEM 16, the board of directors seeks approval of the Company's remuneration policy. ECGS questions the overall balance of Electrolux' executive compensation package. The performance period of the LT incentive plan (1 year) is insufficiently long enough in ECGS' view and consequently, an actual LT component (with a performance measurement period of at least 3 years) is missing under the package. ECGS therefore recommends to vote OPPOSE.
Under ITEM 17, the board of directors seeks approval of a LT incentive plan. In light of an insufficiently long performance period, ECGS recommends to vote OPPOSE.
AB Electrolux sells home appliance for households and businesses, with products such as refrigerators, dishwashers, washing machines, cookers, vacuum cleaners, air conditioners and small domestic appliances under brands such as Electrolux, AEG, Zanussi, Frigidaire and Electrolux Grand Cuisine. Co. has six segments: Major Appliances Europe, Middle East and Africa; Major Appliances North America; Major Appliances Latin America; Major Appliances Asia/Pacific; and Small Appliances, which comprise the products for consumer durables market; and Professional products. Co.'s professional products include food-service equipment for hotels, restaurants and institutions, as well as laundry equipment.
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