Feb. 11, 2014 08:16 UTC

Husqvarna AB: Nomination Committee’s Proposal for Election of Board Members


Husqvarna AB (STO:HUSQB)

The Nomination Committee of Husqvarna AB submits the following proposals to be presented at the Annual General Meeting of shareholders to be held on April 10, 2014 with regard to the number and election of Board members.

The Nomination Committee proposes that the Board shall comprise nine Board members to be elected by the Annual General Meeting of shareholders and no deputies.

The Nomination Committee proposes that the current Board members Lars Westerberg, Magdalena Gerger, Tom Johnstone, Ulla Litzén, Katarina Martinson and Daniel Nodhäll are re-elected. The Nomination Committee proposes new election of Lars Pettersson, David Lumley and Kai Wärn. Hans Linnarson resigned as a Board member on July 22, 2013. Ulf Lundahl and Anders Moberg have declined re-election.

The Nomination Committee proposes that Lars Westerberg is appointed Chairman of the Board.

Lars Pettersson was born in 1954 and has a Master of Science in Applied Physics, Materials Technology, Uppsala University, Sweden. Previous positions: President and CEO of AB Sandvik 2002-2011 and various positions within AB Sandvik 1978-2002. Current Board assignments: Board member of Indutrade AB, LKAB, LE Lundbergföretagen AB, Uppsala University, PMC Group AB and Skanska AB.

David Lumley was born in 1954 and has a B.A in Communications/Marketing, Western Illinois University, USA; MSJ Journalism, Northwestern University Medill School of Journalism, Evanston, USA and a Master of Business Administration, Northwestern University Kellogg School of Management, Evanston, USA. David Lumley is President and CEO of Spectrum Brands, Middleton USA. Previous positions: President Rubbermaid Home Products, Newell-Rubbermaid Inc., Atlanta, USA. President and CEO, EAS Inc., Golden, USA. President Brunswick Bicycles, Brunswick Corp., Lake Forest, USA. President OMC International and Senior Vice President Marine Power Group, Outboard Marine Corp., Waukegan, USA. General Manager Wilson Sporting Goods Co., Chicago, USA. Current Board assignments: Spectrum Brands.

Kai Wärn was born in 1959 and has a Master of Science in Mechanical Engineering, the Royal Institute of Technology, Stockholm, Sweden. Since July 1, 2013 Kai Wärn is President and CEO of Husqvarna AB. Previous positions: Operations partner at IK Investment Partners Norden AB 2011-2013. President and CEO of Seco Tools AB 2004-2010. Various positions within ABB 1985-2004.

In connection with the publication of the notice on March 7, the Nomination Committee’s full proposal and reasoned opinion will be announced. The Board members will then be presented more in detail.

Husqvarna Group

Husqvarna Group is the world’s largest producer of outdoor power products including robotic lawn mowers, garden tractors, chainsaws and trimmers. The Group is also the European leader in consumer watering products and one of the world leaders in cutting equipment and diamond tools for the construction and stone industries. The Group’s products and solutions are sold via dealers and retailers to both consumers and professional users in more than 100 countries. Net sales in 2013 amounted to SEK 30 billion, and the Group had 14,000 employees on average in more than 40 countries.

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Husqvarna AB
Petra Hedengran
Chairman of the Nomination Committee
+46 735 24 20 97

Source: Husqvarna AB