40
Planned dividend policy
The objective of the Board of Directors, taking into account the
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development opportunities, is to propose annual dividends equi-
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for the Group.
Concluding comments by the acting CEO
“Based on AAK’s customer value propositions for health and
reduced costs, and our customer product co-development and
solutions approach, we continue to remain prudently optimistic
about the future. The main drivers are the continued positive
underlying development in Food Ingredients and a continued
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Nomination Committee
For the 2018 Annual General Meeting, the Nomination Committee
has proposed that Georg Brunstam be elected as Chairman of
the Board. With Melker Schörling AB (publ.) as main shareholder,
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LQJJURXSLQWKHSRO\PHULQGXVWU\+HUHFHQWO\OHIWKLVHHFXWLYH
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now being proposed for the corresponding position at AAK. The
Nomination Committee has also proposed re-election of Gun
Nilsson, Bengt Baron, Lillie Li Valeur, Märta Schörling Andreen
and Marianne Kirkegaard as Board members. Mikael Ekdahl will
return to the role of secretary of the Board. In total, the Nomination
Committee represents approximately 46 percent of the shares and
votes in AAK as at December 31, 2017.
AAK’s Nomination Committee for the 2018 Annual General Meeting
consists of:
Märta Schörling Andreen (Chair),
Melker Schörling AB (publ.)
Lars-Åke Bokenberger, AMF Fonder
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Share capital and shareholder structure
The total number of shares in AAK as of December 31, 2017 was
42,288,489. There is one class of shares in AAK, and each share
entitles the holder to one vote. There are no limits as regards how
many votes each shareholder may cast at an Annual General
Meeting. Nor are there any limitations regarding the transfer of
the shares resulting from provisions in law or in the Articles of
Association.
Of the Company’s shareholders, only Melker Schörling AB
(publ.) has a shareholding which represents at least one-tenth
of the number of votes of all shares in AAK. Melker Schörling AB
(publ.)’s shareholding as at December 31, 2017 amounted to 32.9
percent of the shares and votes.
AAK is not aware of any agreement between direct shareholders
of AAK that would involve limitations in the right to transfer shares.
The shareholder structure is described further in the section the
AAK Share, page 90.
Articles of Association
The Articles of Association stipulate that Board members shall be
appointed by the Annual General Meeting of AAK. The Articles of
Association contain no provisions regarding dismissal of Board
members or regarding amendment of the Articles of Association.
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Business areas
The Company’s business areas are Food Ingredients, Chocolate
& Confectionery Fats and Technical Products & Feed. Group-wide
functions are included in the Group Functions segment.
Food Ingredients maintains its strong regional positions, primarily
in Europe, the USA and North Latin America, but is gradually
strengthening its positions in other regions.
Chocolate & Confectionery Fats and Personal Care have
world-leading positions, and these will gradually be expanded in
an increasingly global arena.
Technical Products & Feed has a strong local position in
Northern Europe and will continue to focus its growth efforts in
these geographical areas through its close links to the Karlshamn
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The AAK Way, the company program
Our primary focus for our company program, The AAK Way, is to
enable the Company to further increase its organic growth. This
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Strategic investments in China and Brazil
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volumes in the new factories in China and Brazil develop positively
and according to plan.
Company management
In July, it was with great grief we were informed about the tragic
news that Arne Frank’s hope for a positive outcome of his cancer
treatment would unfortunately not be realized. Arne Frank joined
AAK as President and CEO in 2010 and with very great success
developed the company into a world-leading player in the market
for value-adding vegetable oils and fats. Arne will be deeply missed
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cult situation, Fredrik Nilsson, CFO and acting CEO, together with
AAK’s management and their teams have continued to execute on
the company’s strategy in a very professional way.
In November, the Board of AAK AB (publ.) appointed Johan
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Senior Vice President Europe and Managing Director of the
BlankLight division at Shiloh Industries. Shiloh Industries, Inc.
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is a global supplier of innovative solutions to the mobility market
and has just over 3,600 employees and approximately USD 1
billion in revenues.
Johan has nearly 20 years of industrial experience in manage-
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and CEO of FinnvedenBulten AB (publ.) between 2009 and 2014
and CEO of the Finnveden Metal Structures AB division between
2008 and 2014. Before that, he worked for eight years in management
consulting for Arthur D. Little.
Johan Westman will begin his role as President and CEO no
later than June 1, 2018.
Financial goals
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improve the return on operating capital.