Kuehne + Nagel’s 2020 AGM: all Board proposals approved by a large majority; Dr. Joerg Wolle re-elected as Chairman

(PRESS RELEASE) SCHINDELLEGI, 5-May-2020 — /EuropaWire/ — Leading multinational logistics group Kuehne + Nagel International AG has announced it held its 2020 Annual General Meeting (AGM). The AGM was organized in accordance with Art. 6a of the Swiss Ordinance on Measures to Combat the Coronavirus (COVID-19) of the Swiss Federal Council and all proposals of the Board have been approved by a large majority. In addition, Dr. Joerg Wolle re-elected as Chairman for another one-year term.

The independent proxy represented 80,85% of the voting shares. Having been granted access to audit reports, shareholders approved the status report, the financial statements and the consolidated financial statements for the 2019 business year and agreed to carry forward 2019 retained earnings to new account.

Additionally, the AGM granted discharge to the Board of Directors and the Management Board for the 2019 business year.

Elections

Board of Directors

Dr. Renato Fassbind, Karl Gernandt, David Kamenetzky, Klaus-Michael Kühne, Hauke Stars, Dr. Martin Wittig and Dr. Joerg Wolle were re-elected individually for one-year terms until completion of the next AGM.

Dr. Thomas Staehelin, whose mandate as a member of the Board of Directors ends at the Annual General Meeting after 42 years of service, did not stand for re-election. On behalf of the Board of Directors, both the Honorary Chairman, Klaus-Michael Kühne, and the Chairman of the Board of Directors, Dr. Joerg Wolle, thanked Dr. Staehelin for his “impressive, extremely successful, decades-long and very valuable work on the Board of Directors and, above all, as Chairman of the Audit Committee”. From among its members Dr. Martin Wittig will follow him as Chairman of the Audit Committee.

Dominik Bürgy, a Swiss Citizen, was newly elected to the Board of Directors for the same term.

Chairman of the Board of Directors

By an overwhelming majority of votes, Dr. Joerg Wolle was re-elected as Chairman of the Board of Directors for a further one-year term of office.

Compensation Committee

Shareholders followed the Board of Directors’ recommendation to re-elect Karl Gernandt, Klaus-Michael Kühne and Hauke Stars to the Compensation Committee for another one-year term until completion of the next AGM. Karl Gernandt remains Chairman of this Committee.

Independent Proxy / Statutory Auditor

Investarit AG, Zurich, was elected as independent proxy; the mandate of Ernst & Young AG as statutory auditor for the year 2020 was approved by the AGM.

Authorised Capital

Shareholders voted with the necessary majority for the renewal of the Board of Director’s right to establish authorised capital (revision of Articles of Association) until 5 May 2022.

Remuneration Report

In a consultative vote, shareholders approved the Renumeration Report 2019 by a large majority.

Votes on Remuneration

The total maximum amount of remuneration for the members of the Board of Directors was prospectively approved according to the legal requirements, covering the period until the end of the AGM. In a separate vote, shareholders confirmed the total maximum amount of remuneration for the Management Board, covering the next business year 2021.

The company’s next AGM will be held on May 4, 2021.

Media contacts:

Dominique Nadelhofer
Global Head of Media Communication
dominique.nadelhofer@kuehne-nagel.com
+41 44 786 9716

SOURCE: Kuehne + Nagel