Business

Autoliv, Inc. Sets Course for the Future with Recent Annual General Meeting Outcomes

STOCKHOLM, May 13, 2024 – Autoliv, Inc., a global front-runner in the manufacture and supply of automotive safety systems, has publicized the culmination of its 2024 Annual General Meeting (AGM) which transpired on May 10, 2024. The company, which prides itself on a storied history of influencing vehicular safety worldwide, held the meeting to deliberate and reach crucial decisions shaping the organization's future and affirm its unwavering commitment to the protection and reassurance of its customers.

Decisions That Drive Safety Forward

During the AGM, shareholders were presented with a series of proposals pivotal to Autoliv's operations and strategic direction. With forthright and resolute voting, stockholders favored the subsequent proposals, setting the tone for the ensuing year and reaffirming faith in the company's leadership and direction.

Board Directors Secure New Term

The AGM witnessed the re-election of elite professionals to the Board of Directors, extending their term until the 2025 AGM. The Board welcomed back esteemed individuals such as Mikael Bratt, Laurie Brlas, Jan Carlson, Hasse Johansson, Leif Johansson, Franz-Josef Kortüm, Frédéric Lissalde, Xiaozhi Liu, Gustav Lundgren, Martin Lundstedt, and Thaddeus "Ted" Senko. This ensemble of industry veterans and trailblazers affirm Autoliv's fortitude in steering the company along its trajectory of innovation and influence in automotive safety systems.

Executive Compensation and Independent Auditors

The AGM also addressed the topic of executive compensation, with a non-binding, advisory resolution passed to endorse the compensation plan for the company's named executive officers for the year 2023. In addition to executive pay, the company's relationship with its auditing firm was cemented as the appointment of Ernst & Young AB as Autoliv's independent auditors for the fiscal year ending on December 31, 2024, was ratified.

Crafting Committees for Future Challenges

Autoliv’s Board meeting concurrently approved the formation of its standing committees, each tasked with specific governance and oversight responsibilities vital to the company's enduring success:

Audit and Risk Committee

The Audit and Risk Committee, paramount to ensuring the integrity of Autoliv’s financial reporting, will be chaired by Ted Senko. Laurie Brlas, Hasse Johansson, and Gustav Lundgren join him in this crucial oversight role.

Leadership Development and Compensation Committee

The Leadership Development and Compensation Committee, orchestrating the company’s approach to executive development and remuneration, will be led by Frédéric Lissalde with Leif Johansson, Xiaozhi Liu, and Martin Lundstedt offering their seasoned insights.

Nominating and Corporate Governance Committee

Ensuring the board's effectiveness and upholding corporate governance principles, the Nominating and Corporate Governance Committee will be guided by Chairperson Leif Johansson, together with Laurie Brlas, Franz-Josef Kortüm, and Frédéric Lissalde.

A Continuation of Leadership

In a strategic move, Jan Carlson will maintain his pivotal role as the Chairman of the Board. His visionary leadership is anticipated to persist in propelling the company towards its noble ambition of advancing automotive safety around the globe.

Unwavering Commitment to Safety and Innovation

Autoliv’s impassioned approach to its mission, "Saving More Lives," resonates through every aspect of its operations. The company's 70,000 associates across 25 countries embody a dedication that transcends mere employment – it is a shared vision forged in the commitment to saving lives. Grounded by quality as its cornerstone, Autoliv promotes a culture where excellence is not just aspired to but is the expected standard.

A Global Leader with a Vision

As affirmed by the AGM outcomes and the leadership investments, Autoliv, Inc. continues to uphold its status as the world’s leader in automotive safety systems. The success of its products is not depicted merely in profit but in the tens of thousands of lives saved and the hundreds of thousands of injuries prevented yearly. This success story is underpinned by Autoliv's diverse and innovative product portfolio, including not only the core safety components of airbags, seatbelts, and steering wheels but also advanced solutions for pedestrian protection, connected safety services, and safety systems designed specifically for powered two-wheel vehicles.

A Testament to Excellence and Global Presence

The company's sprawling global presence is buttressed by its 14 technical centers and 20 test tracks, serving as a testament to its commitment to relentless innovation in the safety domain. Across these facilities, Autoliv's associates labor tirelessly to redefine standards, never settling for the status quo. The company’s fiscal performance in 2023, with sales reaching US $10.5 billion, underscores the scale and impact of its operational prowess.

Navigate Autoliv’s Vision

For comprehensive details about Autoliv and its ongoing quest to cultivate safer mobility, interested parties are encouraged to visit the corporate website (www.autoliv.com). Here, visitors can delve into the company's milestones, peruse its progressive safety solutions, and understand better the core values that drive everything Autoliv aspires to accomplish.

Forward-Looking Statements: A Disclosure

Autoliv's report also included a provision known as the Safe Harbor Statement, cautioning readers that the report may contain forward-looking statements under the Private Securities Litigation Reform Act of 1995. These are not historical facts but projections about future events and results, relying on current expectations and various assumptions which, despite being in good faith, may or may not realize. The company duly notes the inherent risks, uncertainties, and several factors that could result in a substantial difference between what has been projected and the actual outcomes.

The AGM results and additional corporate information have been shared via Cision, a notable distribution network at http://news.cision.com. The relevant AGM press release can be accessed through the following link: Autoliv Announces Results of 2024 Annual General Meeting of Stockholders.

Additional Resources for Download

To provide stakeholders with transparent and educational resources, Autoliv is offering downloadable content related to the AGM outcomes. Interested parties may access documents such as the press release detailing the 2024 AGM results, guiding them through the finer points of the proceedings and decisions made. This resource is instrumental for investors, analysts, and the media to grasp the full breadth of the pivotal meeting. The document, titled "ALV_Press release 2024 AGM_ENG," is available at the following link: https://mb.cision.com/Main/751/3977427/2790101.pdf.

Contacting Autoliv's Dedicated Team

As Autoliv continues to make strides in automotive safety, stakeholders and interested individuals may reach out to key personnel for any inquiries. Investors and analysts looking to gather more precision on the disclosed information may approach Anders Trapp at +46 (0)8 587 206 71 or Henrik Kaar at +46 (0)8 587 206 14 for direct communication. Media connections can be made through Gabriella Etemad, who is available at +46 (0)70 612 64 24 to field questions and provide relevant insights.

Conclusion: Upholding the Pursuit of Safety Excellence

In summary, Autoliv, Inc.’s 2024 Annual General Meeting presented a clear vision of the company's trajectory, as highlighted by the decisive actions taken by its shareholders. The re-election of key directors, decisions concerning executive compensation, and approval of the audit firm position Autoliv for another year of pioneering advancements in the world of automotive safety. The actions ratified at the AGM elegantly dovetail with the core mission of the organization, driven by an unwavering pledge to save lives through technology and innovation.

Autoliv's devotion to creating a safer future on the roads with its state-of-the-art products and dedicated teams around the globe stands as a beacon of hope and excellence. As the world looks toward an era of intelligent and safe mobility, Autoliv proves to be a vanguard in ensuring the journey is as secure as it's promising.