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Ericsson nomination committee proposes election of Nancy McKinstry

The nomination committee proposes Nancy McKinstry be elected Director of the Board and re-election of Peter L. Bonfield, Sverker Martin-Löf, Eckhard Pfeiffer, Michael Treschow, Lena Torell, Marcus Wallenberg, Arne Mårtensson and Carl-Henric Svanberg. Peter Sutherland has declined re-election.

Press release  |  Mar 04, 2004 10:50 (GMT +00:00)

As a consequence, the nomination committee proposes the number of Board members be nine, and that no deputy Board members be appointed.

Also, the committee suggests that the fee to the Board of Directors be maximum SEK 8 million to be distributed by the Board of Directors among its members.

It is proposed the annual general meeting of shareholders on April 6, 2004 elects Peter Clemedtson auditor, presently deputy auditor, ÖhrlingPricewaterhouseCoopers, and Robert Barnden, ÖhrlingPricewaterhouseCoopers, deputy auditor for the remaining mandate period, i.e. up to and including the annual general meeting of shareholders 2007. Carl-Eric Bohlin has informed the Board of Directors that for personal reasons he will resign from his position as auditor of Ericsson effective from the close of the annual general meeting of shareholders 2004.

Regarding the election of members of the nominations committee and determination of the fee to the committee, the company has received proposals for appointment of the following five members; Bengt Belfrage, Nordea Fonder, Christer Elmehagen, AMF Pension, Anders Nyrén, Industrivärden, Björn Svedberg, Investor, and Michael Treschow as members of the nomination committee until the end of the annual general meeting in 2004. Further, the nomination committee proposes no fee be paid to the committee for this period.

The Board of Directors proposes no dividend be paid for year 2003.

The annual general meeting will also discuss implementation of a Long Term Incentive Plan 2004, instruction to the Board of Directors, amendment of one parameter of the Stock Purchase Plan 2003, and transfer of own shares.

Notice convening the meeting and an agenda will be published in Svenska Dagbladet, Dagens Nyheter, Post och Inrikes Tidningar and Financial Times on March 5, 2004 and at

The Board of Directors' complete proposals for resolutions will be available from March 23, 2004. The proposals will be sent to shareholders free of charge upon request. The proposals will also be available at the company's home page as from the same date.
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