Sandoz Group AG Shareholders' Meeting Highlights Key Decisions

Sandoz Group AG Announces Key Decisions from Shareholders' Meeting

Sandoz Group AG, a leader in generic and biosimilar medicines, recently held its Annual General Meeting where shareholders came together to discuss various important resolutions. The meeting marked a significant moment for the company as it exhibited strong support from its shareholders.

Resounding Approval for Board Proposals

During the event, all proposals put forward by the Board of Directors received overwhelming approval. Notably, Gilbert Ghostine was re-elected as the Chairman of the Board, along with the re-election of other board members who stood for confirmation. This strong leadership signals ongoing confidence in the direction Sandoz aims to pursue.

Dividend Distribution Affirmed

One of the key announcements was the approved dividend of CHF 0.60 per registered dividend-paying share. This dividend reflects 24% of the company's core net income, showcasing Sandoz's commitment to providing value back to its shareholders. The dividend is scheduled for payment on April 23, further reinforcing the firm’s robust financial position and growth potential.

Financial Reports and Shareholder Engagement

The shareholders had the opportunity to review the Annual Financial Statements, Consolidated Financial Statements, and a non-financial report concerning the previous financial year. With 1,072 shareholders in attendance and represented shares at 75.73%, engagement levels were high, reflecting the community’s connection to Sandoz’s mission.

Strategic Changes and Corporate Governance

In a strategic move, the AGM endorsed the change of Sandoz’s registered seat from Risch to Basel. Additionally, shareholders approved amendments to the Articles of Incorporation, including a capital band renewal that allows up to 10% of the share capital and the introduction of conditional share capital. These changes aim to optimize the capital structure of Sandoz as it continues its dynamic growth journey.

Compensation Adjustments Approved

In separate approvals, the maximum aggregate compensation for both the Board of Directors and the Executive Committee for the upcoming financial year was approved. The shareholders also participated in an advisory vote supporting the 2024 Compensation Report, which reflects the company's commitment to transparency and alignment with shareholder interests.

Commitment to Social Responsibility

Recognizing the importance of diverse input, the AGM saw the re-election of respected members to the Human Capital and ESG Committee, including Urs Riedener, who will serve as chair. This committee reflects Sandoz’s dedication to human capital and sustainable practices, an essential aspect given the growing significance of corporate responsibility in today’s market.

Statutory Auditors and Proxy Recognition

The shareholders reaffirmed KPMG AG as statutory auditors for the upcoming financial year, ensuring rigorous oversight. Additionally, Advoro Zurich AG was reappointed as the independent proxy for the conclusion of the next AGM in 2026, providing assurance of proper governance protocols.

A Snapshot of Sandoz

Sandoz has emerged as a leading figure in the healthcare market, committed to designing and delivering innovative solutions that improve global health standards. Empowered by over 20,000 employees, the company is dedicated to pioneering access to medicines, evidenced by its diverse portfolio of approximately 1,300 products. Sandoz continues to strive for excellence, driven by its profound mission to achieve long-term value and health solutions for patients worldwide.

Dynamic Growth Ahead

As Sandoz progresses, it is evident that they remain focused on opportunities to lead in the healthcare domain. The background of their historic breakthroughs, which includes the world's first oral penicillin, and a remarkable achievement of net sales reaching USD 10.4 billion demonstrate their role in shaping healthcare trends. The future looks promising as Sandoz aims to evolve continuously.

Frequently Asked Questions

What significant outcomes were announced during the shareholders' meeting?

The meeting saw the approval of all Board proposals, including the re-election of Gilbert Ghostine as Chairman and a dividend of CHF 0.60 per share.

How was shareholder engagement during the Annual General Meeting?

Engagement was notably high, with 1,072 shareholders present, representing 75.73% of shares registered for voting.

What changes were made to Sandoz’s Articles of Incorporation?

Shareholders approved the renewal of the capital band and introduced conditional share capital to optimize the company’s capital structure.

Who was re-elected to the Human Capital and ESG Committee?

Urs Riedener and other board members were re-elected to serve on the committee, highlighting Sandoz’s commitment to social responsibility.

What is Sandoz’s mission in the healthcare sector?

Sandoz is dedicated to pioneering access to medicines and healthcare, ensuring long-term value and improved health outcomes for patients globally.

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