The Annual General Meeting (AGM) in Stockholm did not support the Board's proposal for a long-term variable compensation plan. Michael Treschow, Chairman of the Ericsson Board, stated that he was surprised by the result but Ericsson and the Board would present a new competitive program.
The Chairman of the Ericsson Board, Michael Treschow commented on the resolution by the Annual General Meeting: "It came as a surprise to us since the AGM has approved almost identical programs during the past three years."
Treschow continued; "Ericsson would like to offer a program to all its employees to cater for the participation in the success of the company. It is common practice in our business, but also it is in line with our way of motivating our employees. In a knowledge sector, it is common that employees share the value to which they contribute."
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
Read more at http://www.ericsson.com
FOR FURTHER INFORMATION, PLEASE CONTACTEricsson Media Relations
Phone: +46 8 719 6992