Ulf Berg Appointed Chairman of the Board
At the annual general meeting of Sulzer Ltd, shareholders approved all board proposals. Dr. Leonardo Vannotti stepped down as chairman of the board and Dr. Ulf Berg was elected to the board of directors.
797 shareholders attended the 93rd annual general meeting, representing 31.03% of the share capital. The shareholders approved the 2006 annual report, annual accounts, consolidated financial statements, and appropriation of net profit. A dividend of CHF 23 per share will be paid on April 12, 2007 (previous year CHF 14).
Board members Louis R. Hughes, Hans Hubert Lienhard, and Luciano Respini were confirmed for another three-year term of office. Ulf Berg, CEO of the corporation until April 3, 2007, succeeds Leonardo Vannotti as chairman of the board as of today. Ton Büchner is the new CEO of Sulzer. Ton Büchner successfully managed the division Sulzer Pumps over the last years and has been with Sulzer for 13 years.
Shareholders endorsed the creation of authorized capital. This resolution will enable the board of directors to increase capital by up to 20% of the existing share capital in the event that a potential acquisition of Bodycote International proceeds.
