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Press Release26 January 2010Siemens AGMunich, Germany
Siemens Annual Shareholders’ Meeting approves settlements with former board members
The regular Annual Shareholders’ Meeting of Siemens AG has approved the proposed settlements between the company and nine former members of Siemens’ Managing and Supervisory Boards. The shareholders also endorsed an agreement whereby the provider of the company’s directors and officers insurance policy will cover damages of up to €100 million. In addition, the shareholders approved the current system of Managing Board compensation and ratified the acts of the Managing and Supervisory Boards for fiscal 2009. The Annual Shareholders’ Meeting also confirmed the dividend of €1.60 per share proposed by the Managing and Supervisory Boards. The proposals on these agenda items were approved by large majorities at the meeting today in Munich’s Olympiahalle.
The regular Annual Shareholders’ Meeting of Siemens AG has approved the proposed settlements between the company and nine former members of Siemens’ Managing and Supervisory Boards. The shareholders also endorsed an agreement whereby the provider of the company’s directors and officers insurance policy will cover damages of up to €100 million. In addition, the shareholders approved the current system of Managing Board compensation and ratified the acts of the Managing and Supervisory Boards for fiscal 2009. The Annual Shareholders’ Meeting also confirmed the dividend of €1.60 per share proposed by the Managing and Supervisory Boards. The proposals on these agenda items were approved by large majorities at the meeting today in Munich’s Olympiahalle.
In connection with illegal practices in business transactions outside Germany, the company settled claims with the following individuals: Johannes Feldmayer, Klaus Kleinfeld, Edward G. Krubasik, Rudi Lamprecht, Jürgen Radomski, Uriel Sharef, Klaus Wucherer, former CEO and Supervisory Board Chairman Heinrich v. Pierer and former Supervisory Board Chairman Karl-Hermann Baumann.
Starting on January 27, 2010, detailed voting results for all items on the agenda of the Annual Shareholders’ Meeting will be available at www.siemens.com/agm.
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies, generating €23 billion – nearly one-third of its total revenue – from green products and solutions. In fiscal 2009, which ended on September 30, 2009, revenue totaled €76.7 billion and net income €2.5 billion. At the end of September 2009, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at: www.siemens.com.