Autoliv Nominates Directors for Election at the 2019 Annual Stockholders Meeting and Announces Agreement with Cevian

STOCKHOLM, March 1, 2019 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV, and SSE: ALIV sdb), the worldwide leader in automotive safety systems, today announced its nominees for election by the stockholders to the Board of Directors at the 2019 Annual Stockholders Meeting and an agreement with Cevian Capital II GP Limited.

Stockholders Annual General Meeting

As previously announced, the Board of Directors has set Tuesday May 7, 2019 as the date for the Annual General Meeting of Stockholders to be held in Chicago, IL, USA. Stockholders of record at the close of business on March 14, 2019 will be entitled to be present and vote at the 2019 Annual Meeting. Notice of the 2019 Annual Meeting will be delivered to the holders of record in late March.

All currently serving directors (Mikael Bratt, Jan Carlson, Hasse Johansson, Leif Johansson, David E. Kepler, Franz-Josef Kortüm, Xiaozhi Liu, James M. Ringler, and Ted Senko) are nominated for re-election at the 2019 Annual General Meeting.

Agreement with Cevian

Autoliv announced today that it has entered into an agreement with Cevian Capital II GP Limited ("Cevian"). Pursuant to the agreement with Cevian, Autoliv agreed to take action to nominate Min Liu for election at the 2019 AGM and nominate her or another designee of Cevian at future annual meetings of Autoliv, subject to the terms and conditions of the agreement, including Cevian maintaining at least 8% ownership position in the common stock of Autoliv. Cevian has agreed to certain customary standstill and voting provisions, including not acquiring more than 19.9% of the common stock of Autoliv.

The full agreement with Cevian will be filed by Autoliv on a Current Report on Form 8-K with the Securities and Exchange Commission.

Ms. Liu, age 39, is a Vice President of Cevian Capital AG, an affiliate of Cevian, Autoliv, Inc.'s largest stockholder. Prior to joining Cevian, Ms. Liu served as a principal of The Boston Consulting Group in Germany where she led multiple projects in a broad set of industries between 2004 and 2015. Ms. Liu has an MBA from Stanford University in addition to bachelor's and master's degrees in business information technology from Goettingen University.