The shareholders attending the Adecco Group’s AGM, which took place in Lausanne today, confirmed the following members of Adecco’s Board of Directors for a further term of one year: Rolf Dörig (Chairman), Wanda Rapaczynski, Dominique-Jean Chertier, Alexander Gut, Didier Lamouche, Thomas O’Neill and David Prince. Additionally they elected Kathleen P. Taylor and Jean-Christophe Deslarzes as members of the Board of Directors for a term of one year. With this, the Board of Directors will consist of 9 members compared to 8 members previously. Andreas Jacobs did not stand for re-election and Rolf Dörig warmly thanked him for his dedication over nine years serving on the Board of Directors.
Shareholders voted in favour of the proposal to pay a cash dividend of CHF 2.10 per share for the financial year 2014, a 5% increase on the prior year. The total amount of the dividend distribution for 2014 is allocated from capital contribution reserves to free reserves and subsequently paid to shareholders, and is therefore exempt from Swiss withholding tax. The dividend payment to shareholders will take place on May 5, 2015.
Furthermore, shareholders approved the maximum total amount of remuneration of the Board of Directors for the office period from the AGM 2015 until the AGM 2016 as well as the maximum total amount of remuneration of the Executive Committee for the fiscal year 2016, with 96% and 95% favourable votes respectively. The Remuneration Report 2014, which includes details of the actual remuneration paid, was approved by shareholders in an advisory vote with 88% of votes in favour.
The members of the Compensation Committee were elected directly by the shareholders. The Compensation Committee consists of the following members: Alexander Gut, Wanda Rapaczynski and Thomas O’Neill.
The shareholders also approved the Group’s Annual Report 2014. Ernst & Young Ltd, Zurich was re-elected as Adecco S.A.’s auditors for the business year 2015. The AGM also approved all other agenda items, including the reduction of share capital by way of cancellation of 4,606,873 shares.
Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Adecco S.A. as of the date of this release, and we assume no duty to update any such forward-looking statements. The forward-looking statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Factors that could affect the Company’s forward-looking statements include, among other things: global GDP trends and the demand for temporary work; changes in regulation of temporary work; intense competition in the markets in which the Company operates; integration of acquired companies; changes in the Company’s ability to attract and retain qualified internal and external personnel or clients; the potential impact of disruptions related to IT; any adverse developments in existing commercial relationships, disputes or legal and tax proceedings.