Novartis shareholders approve all resolutions proposed by Board of Directors

  • Shareholders approve 19th consecutive dividend increase to CHF 2.70 (+4%) per share for 2015
     
  • Dr. Joerg Reinhardt confirmed by shareholders as Chairman of the Novartis Board of Directors as well as all other members who have stood for re-election; Ton Buechner and Elizabeth Doherty elected as new members of the Board
     
  • Shareholders authorize the Board of Directors to execute share buybacks within the framework of a seventh share repurchase program that will allow Novartis to repurchase shares for cancellation up to a maximum of CHF 10 billion
     
  • Shareholders approve all other proposals of the Board of Directors, including the 2015 compensation report as well as future Board and Executive Committee compensation

- More than 97% of Novartis shareholders today followed the Board of Directors’ recommendations for all proposed resolutions at the Group’s Annual General Meeting. A total of 1,776 shareholders were present at the meeting held in Basel, representing approximately 61.6% of the issued shares of Novartis.

Shareholders approved the nineteenth consecutive dividend increase per share since the creation of Novartis in 1996, with an increase of 4% to CHF 2.70 for 2015 compared to CHF 2.60 for 2014. Payment for the 2015 dividend will be made with effect from February 29, 2016.

Votes on Compensation for the Members of the Board of Directors and the Executive Committee
Shareholders approved in two separate binding votes the total maximum amount of compensation for the members of the Board of Directors covering the period from the 2016 AGM to the 2017 AGM and the total maximum amount of compensation in respect of 2017 for the members of the Executive Committee. Furthermore, shareholders endorsed in an advisory vote the 2015 Compensation Report.

Annual re-election and election of Members of the Board
A large majority of shareholders re-elected  Dr. Joerg Reinhardt as Chairman of the Board of Directors and each member of the Board of Directors who stood for re-election for one year. Further, shareholders elected Ton Buechner and Elizabeth Doherty as new members of the Board of Directors. Dr. Verena Briner decided not to stand for re-election. The Board of Directors thanks her for her services and commitment to Novartis as a Director and member of the Board of Director’s Risk Committee.

In addition, shareholders re-elected the following members of the Board of Directors to the Compensation Committee for one year: Srikant Datar, Ph.D., Ann Fudge, Enrico Vanni, Ph.D. and William T. Winters. The Committee will be chaired by Enrico Vanni and each member will serve until the end of the next Annual General Meeting.

Furthermore, in line with the Board of Director’s recommendation, shareholders also approved the cancelation of 49,878,180 shares repurchased on the second trading line under the sixth share repurchase program in the financial year 2015 and to reduce the share capital accordingly by CHF 24,939,090, from CHF 1,338,496,500 to CHF 1,313,557,410.

For a detailed listing of all resolutions presented at the 2016 Annual General Meeting, please visit: www.novartis.com/sit­es/www.novartis.com/files/2016-novartis-agm-notice.pdf