Chairman of the Ericsson Board Michael Treschow comments on the Annual General Meeting's position on the long-term variable compensation

Press release
Apr 11, 2007 18:25 (GMT +00:00)
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."

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