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Nestlé releases the results from its Annual General Meeting
Nestlé S.A. shareholders approved all of the Board of Directors' proposals at the 154th Annual General Meeting (AGM) that took place in
Due to concerns for the health and safety of shareholders and in line with the current rules of the Swiss authorities, shareholders could not attend the meeting in person. All legal proceedings were carried out as required. Shareholders were able to exercise their voting rights through the Independent Representative, who acted on behalf of 58.2 percent of Nestlé's capital and 79.9 percent of Nestlé shares entitled to vote.
Nestlé Chairman
Lindiwe Majele Sibanda, a Professor and the Director and Chairwoman of the
The Chairman and all other members of the Board of Directors were elected individually for a term of office until the end of the next Annual General Meeting. Shareholders also elected the members of the Compensation Committee for a one-year term.
The annual review and the accounts were approved, as were the proposed dividend of
Shareholders also approved the total compensation budgets for Nestlé's Board of Directors and Executive Board. Fifteen percent of the Executive Board members' short-term bonus will be linked to the achievement of Environment Social Governance-related objectives.
Following the publication of Nestlé's detailed, time-bound roadmap to achieve net zero greenhouse gas emissions by 2050, Nestlé sought the support of its shareholders for its plan. The advisory vote was put on this year’s agenda ahead of upcoming changes to Swiss legislation that will stipulate the requirements for non-financial reporting. Shareholders voted in favor of the roadmap.
For the year ahead, the Board and its different committees will be composed as follows:
Board of Directors
Chair's and Corporate Governance Committee
Compensation Committee
Nomination Committee
Sustainability Committee
Audit Committee
All information on the AGM, including video addresses of the Chairman and the CEO as well as the detailed voting results, can be found on the Nestlé corporate website.
Contacts:
Media:
Christoph Meier Tel.: +41 21 924 2200
mediarelations@nestle.com
Investors:
Luca Borlini Tel.: +41 21 924 3509
ir@nestle.com
© OMX, source