Report
Expert Corporate Governance Service (ECGS)
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Sandvik - AGM 29 April 2019

In general, Sandvik is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.

Under ITEMS 14.1-14.8, the (re-)election of the board of directors is proposed.

In view of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Ms. Marika Fredriksson (ITEM 14.3).

Under ITEM 17, the board of directors seeks approval of the Company's executive remuneration guidelines. Although no (material) changes are proposed, ECGS is missing an actual LT component (with a performance measurement period of at least 3 years) under the guidelines. ECGS therefore recommends to vote OPPOSE.

 Under ITEM 18, the board of directors seeks approval of a LT incentive plan. In light of an insufficiently long performance period (of only 1 year), ECGS recommends to vote OPPOSE.

There are no further peculiarities.

Underlying
Sandvik AB

Sandvik is organized into five business areas: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction and Sandvik Venture. Sandvik Mining specializes in equipment, tools and service for the mining industry. Sandvik Machining Solutions focuses on tools and tooling systems for metal cutting. Sandvik Materials Technology specializes in products made from stainless steel grades and special alloys. Sandvik Construction specializes in equipment, tools and service for the breaking, drilling and crushing niches. Sandvik Venture generates value by promoting growth of small and medium-sized businesses of particular interest to the Sandvik Group.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

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Analysts
Expert Corporate Governance Service (ECGS)

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