Apr 22, 2008 | Amsterdam Nuon changes board chairman at AGM 2008
At the annual general meeting of shareholders (AGM of Nuon) today in Hotel The Grand in Amsterdam Nuon’s new board chairman, Øystein Løseth (49), took over the baton from his predecessor Ludo van Halderen (61). Løseth’s appointment was announced on 15 February 2008.
At the shareholders’ meeting the Nuon shareholders adopted the annual accounts for 2007 and expressed their appreciation for the good results.
It was decided at the meeting to cut the number of supervisory directors from eleven to nine in anticipation of the forthcoming unbundling of Nuon and the outcome later this year of the discussions about the company’s strategic course.
Of the four resigning supervisory directors Mrs J.B. Irik and Mr J. Schraven were reappointed for a four-year term. Mr D. Huesmann and Mr P.F. van der Heijden were not reappointed and have not been replaced.
Consideration was given at the meeting to a one-off increase in the pay-out ratio to 50 per cent. In the end it was decided to stick to the proposed dividend for 2007 of EUR 413 million (pay out ratio: 45 per cent) so as to maintain a consistent dividend policy.
The meeting also dealt with the unbundling process and the strategic process. The shareholders were brought up to date with the status of the two processes. The unbundling process will make Nuon ready for unbundling on 1 July 2008 and the aim of the strategic process is to ensure that a decision is taken later this year about the strategic course of the unbundled group of companies.
About Nuon
Nuon is an ambitious energy company, serving more than three million consumers and organisations with over 10,000 employees in the Netherlands, Belgium and Germany. Nuon produces, transports and delivers electricity, gas, heating and cooling, and engages in energy trading in the major international markets. Nuon also supplies additional services and technological innovations to businesses and consumers. In doing so, Nuon aims to provide a reliable, sustainable and affordable energy supply.
With a turnover of EUR 5.7 billion in 2007, Nuon occupies a prominent position in the Dutch energy market. The shares are held by local and regional authorities.