The Board of Directors of Ascom has decided to make the following proposals to the Annual General Meeting to be held on 19 April 2017:
Dividend of CHF 0.80 per share
The Board of Directors proposes to the shareholders a dividend payment of CHF 0.80 per share. After the divestment of the Network Testing Division and the strategic decision to focus on Healthcare ICT as a one-business company, the Board decided to pay out the major part of the proceeds from the divestment to the shareholders. Thanks to the solid balance sheet and financing of the Group, there is no impact on the execution of the communicated growth strategy.
Renewal of the Board of Directors
The Board takes note that Dr J.T. Bergqvist does not stand for re-election and will leave the Board after many years of service. As already announced in autumn 2016, the current Chairman Juhani Anttila and Urs Leinhäuser do not stand for re-election. The Board of Directors proposes to reduce the number of Board members from seven to five due to the transformation of Ascom into a one-business company.
Jürg Fedier is nominated to be elected as a new Member of the Board. Jürg Fedier is Chief Financial Officer of OC Oerlikon and has a very solid track record with a strong international background and a broad experience as a CFO of a publicly listed company. Jürg Fedier is planned to be elected as Chairman of the Audit Committee.
The Board of Directors further proposes to the Annual General Meeting that the four current members of the Board, Dr Valentin Chapero Rueda, Dr Harald Deutsch, Christina Stercken and Andreas Umbach be re-elected for a further one-year term of office. Thus, the Board of Directors will consist of five members.
As already announced, the Board of Directors proposes to the Annual General Meeting to elect Andreas Umbach as new Chairman of the Board. Dr Valentin Chapero Rueda and Dr Harald Deutsch are proposed to be elected as Members of the Compensation Committee. Valentin Chapero is planned to be elected as the Chairman of the Compensation Committee. Christina Stercken will continue as a Member of the Audit Committee.
Moreover, the Board of Directors decided to adjust the Board fees. An ordinary Board member shall receive a yearly compensation of CHF 100,000 (before: CHF 120,000) while the Chairman of the Board shall receive CHF 200,000 (before: CHF 300,000).
The Board of Directors thanks the leaving members of the Board for their very valuable contribution to Ascom and is very pleased to welcome Jürg Fedier.
The invitation to the Annual General Meeting of 19 April 2017 will be published on 11 March 2017.