Zurich, 18 May 2020 – At today’s Annual General Meeting of Julius Baer Group Ltd. the shareholders passed all agenda items and proposals submitted by the Board of Directors.
In detail, the Annual General Meeting 2020 of Julius Baer Group Ltd. passed the following resolutions:
- The Financial Statements and Consolidated Financial Statements 2019 were approved and the Remuneration Report 2019 was approved in a consultative vote.
- The appropriation of the disposable profit, the dissolution of CHF 83.9 million out of ‘statutory capital reserve’ and the proposed first distribution in the total amount of CHF 0.75 per registered share were approved. This corresponds to a distribution of CHF 0.375 per registered share, which is not subject to the Swiss withholding tax and shall be paid free of expense from 25 May 2020, and a dividend of CHF 0.375 per registered share, which is subject to the Swiss withholding tax and shall also be paid from 25 May 2020.
In the absence of a drastic change of circumstances, the Board of Directors will convene an Extraordinary General Meeting by mid-November 2020 latest to propose a second dividend distribution in the same amount.
- The members of the Board of Directors and of the Executive Board were discharged for the 2019 financial year.
- The maximum aggregate amount of compensation of the Board of Directors for the coming term of office (AGM 2020 – AGM 2021) was approved.
- Additionally, the shareholders approved the Executive Board’s aggregate amount of variable cash-based compensation elements for the completed financial year 2019, the aggregate amount of variable share-based compensation elements that are allocated in the current financial year 2020 and the maximum aggregate amount of fixed compensation for the next financial year 2021.
- The Board members Romeo Lacher, Gilbert Achermann, Heinrich Baumann, Richard Campbell-Breeden, Ivo Furrer, Claire Giraut, Charles G.T. Stonehill, Eunice Zehnder-Lai and Olga Zoutendijk were re-elected for a one-year term.
- Kathryn Shih and Christian Meissner were elected as new members of the Board of Directors, whereby Kathryn Shih will assume the director role as of 1 September 2020.
- Romeo Lacher was re-elected as Chairman of the Board of Directors for a one-year term.
- Gilbert Achermann, Richard Campbell-Breeden, Kathryn Shih (as of 1 September 2020) and Eunice Zehnder-Lai were elected as members of the Compensation Committee for a one-year term.
- KPMG AG, Zurich, was appointed as Statutory Auditors for another one-year period.
- Marc Nater, Wenger Plattner Attorneys at Law, Kuesnacht, was elected as independent representative until the end of the next Ordinary Annual General Meeting in 2021.
The detailed voting results as well as the brief minutes will be published on the website on www.juliusbaer.com/agm by tomorrow.