The emotions ran high over the face of the dramatic vote in Swedbank’s Annual General Meeting.
Many of the shareholders wanted to ask questions to the outgoing President Anders Sundstrom about how he could kick former CEO Michael Wolf so quickly.
in the vote announced the owners to either Wolf or Sundstrom discharge after previous scandal transactions in the bank.
former president n Michael Wolf and outgoing President Anders Sundström is not granted discharge after the scandals surrounding Swedbank.
– There has been a clear lack of rules and laws. Lousy morale, unhealthy bonus culture, thundered Lars-Erik Forsgårdh, CEO of the Swedish Shareholders’ Association, Swedbank’s Annual General Meeting.
He held a ten-minute inflammatory speech during the meeting and said that the Board should not be allowed in respect of the transactions that have been identified. The speech was followed by loud applause.
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All other acquitted
the background is that two senior managers of the bank revealed the private property transactions in the millions. The former CEO Michael Wolf is additionally reported to the police after suspicions of illegal insider trading and in February fired.
In today’s vote, the owners announced that Wolf did not discharge, over 27 percent voted no. The barrier to the discharge is 10 percent.
Anders Sundstrom had just a few days ago to know that he does not get renewed confidence in the chair. At the meeting, he also has to know that he too discharge, over 17 percent voted no.
Other board members were discharged from liability – including Mr Idermark, who will be the next president, but according to Dagens Industri’s tasks also known scandal stores.
Sheep wage
the two former top executives of Swedbank may not discharge opening of a series of lawsuits from disgruntled shareholders. At the meeting were also approved salary increase of 3.2 percent for the board, which was granted. Swedbank’s new chairman will therefore 2.43 million per year in fees. Members receive 525,000 crowns.
The meeting got the last moment moved to the House of Dance in Stockholm to all shareholders would fit. It has been expected over 1100 people to the meeting.
“Can we get some answers?”
The meeting was characterized by people who wanted to make their voices heard and several broke in to ask questions include Anders Sundström. Many asked why he kicked Michael Wolf as quickly.
– Can not we get some answers here too? asked himself a shareholder.
Many of the shareholders left the hall after today’s main point was avhandlad.
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