Shareholders approve all resolutions proposed by Board of Directors at Annual General Meeting of Sandoz Group AG

 

• All proposals of Board of Directors approved
• Gilbert Ghostine re-elected as Chairman of Board of Directors; all other Board members standing for election confirmed
• Mathai Mammen, Graeme Pitkethly and Michael Rechsteiner elected as new Board members
• Dividend of CHF 0.45 per registered dividend-paying share approved, representing 24% of core net income

Basel, April 30, 2024 – Sandoz (SIX: SDZ; OTCQX: SDZNY) today announced that its shareholders approved all proposals of the Board of Directors at its Annual General Meeting, including the Annual Financial Statements and Consolidated Financial Statements as well as the report on non-financial matters for the 2023 financial year. The shareholders in attendance, together with the votes represented by the independent proxy, represented 79.23% of registered shares.

Gilbert Ghostine, who was confirmed as Chairman of the Board of Directors, addressed shareholders in a speech today: “I would like to thank you for joining us on this journey – and give my sincere thanks for the trust you have placed in us and in Sandoz. We are very proud of what has been achieved so far and we are excited about the potential for our continued success in the future. These achievements would not have been attained without the individual and collective contributions of all our colleagues at Sandoz.”

In addition, shareholders approved the proposed appropriation of available earnings and the dividend of 0.45 Swiss francs per registered dividend-paying share, representing 24% of core net income. The dividend will be paid, subject to deduction of Swiss withholding tax, as of May 7, 2024. The last trading day with entitlement to receive the dividend is May 2, 2024.

In two separate votes, shareholders approved the maximum aggregate amount of compensation for the Board of Directors for the period until the next Annual General Meeting, and the maximum aggregate amount of compensation for the members of the Executive Committee for the 2025 financial year. Shareholders also endorsed the 2023 Compensation Report in an advisory vote.

In addition to the re-election of Gilbert Ghostine as Chairman, shareholders also elected all other members of the Board of Directors who stood for re-election for a one-year term:

• Karen J. Huebscher, Ph.D.          
• Urs Riedener        
• Shamiram R. Feinglass, M.D.     
• Aarti Shah, Ph.D. 
• Ioannis Skoufalos
• Maria Varsellona  

Mathai Mammen, M.D., Ph.D., Graeme Pitkethly and Michael Rechsteiner were elected as new members of the Board of Directors for a term of one year.