Key shareholders and industry leaders form Volvo Cars' Nomination Committee, setting the stage for the company's future direction.
 |
| Volvo Cars' Nomination Committee for the 2025 AGM is announced, providing an opportunity for shareholders to participate in the leadership selection process. Image Courtesy: Volvo |
Gothenburg, Sweden – October 3, 2024:
Volvo Cars, the renowned Swedish automaker, has officially announced the formation of its Nomination Committee for the upcoming 2025 Annual General Meeting. This committee, comprised of influential shareholders and industry leaders, will play a pivotal role in shaping the company's future by proposing candidates for key leadership positions.
The Nomination Committee, which represents approximately 84% of Volvo Cars' voting rights, is tasked with recommending individuals for the Chairperson of the Annual General Meeting, Board members, the Chairperson of the Board, and the company's auditor. Additionally, the committee will review and propose potential amendments to its own instructions.
Chaired by Thomas Johnstone, the committee includes Yimin Chen, both appointed by Geely Sweden Holdings AB, Eric Li, the Chairperson of the Board of Volvo Car AB, Anders Oscarsson, representing AMF as the second-largest shareholder, and Emilie Westholm, appointed by Folksam, the third-largest shareholder.
The appointment of this committee aligns with Volvo Cars' commitment to transparency and good governance. By involving key stakeholders in the nomination process, the company aims to ensure that its leadership reflects the interests and values of its shareholders.
Shareholders who wish to submit proposals to the Nomination Committee are encouraged to do so by email or regular mail before the November 30, 2024 deadline. This provides an opportunity for shareholders to directly influence the composition and direction of Volvo Cars' leadership.
As Volvo Cars continues to navigate the rapidly evolving automotive industry, the decisions made by the Nomination Committee will have a significant impact on the company's future success. By selecting qualified and experienced individuals for leadership roles, Volvo Cars can position itself for continued growth and innovation.