Autoliv Inc., a worldwide provider of automotive safety systems, has announced the declaration of a quarterly dividend and the results of its annual meeting of stockholders. The company also announced certain expected changes to the composition of the boards of directors of Autoliv and Veoneer Inc. to be effective after the completion of the intended spinoff of Veoneer.

At a meeting held recently, Autoliv’s board of directors declared a quarterly dividend of 62 cents per share for the third quarter of 2018. The dividend will be payable on Thursday, Sept. 6, to Autoliv stockholders of record on the close of business on Wednesday, Aug. 22.

At the company’s 2018 annual general meeting of stockholders (AGM) held in Chicago, sufficient votes were received to approve the following proposals:

• The re-election of Robert WAlspaugh, Jan Carlson, Hasse Johansson, Leif Johansson, David Kepler, Franz-Josef Kortüm, Xiaozhi Liu, James Ringler, Kazuhiko Sakamoto, Thaddeus Senko and Wolfgang Ziebart as directors of the Autoliv board for a one-year term ending at the 2019 AGM
• The non-binding, advisory resolution to approve the company’s 2017 executive compensation for its named executive officers
• The ratification of the appointment of E&Y AB as the company’s independent auditing firm for the fiscal year ending Dec. 31, 2018

Committees of the Board

At the board meeting held today, the board approved changes to the membership of its committees, effective immediately, which are now composed as follows:

• Audit Committee: Robert Alspaugh (chairman), David Kepler, Ted Senko and Wolfgang Ziebart
• Leadership Development and Compensation Committee: James Ringler (chairman), Leif Johansson and Xiaozhi Liu
• Nominating and Corporate Governance Committee: Leif Johansson (chairman), Franz-Josef Kortüm, Xiaozhi Liu and James Ringler
• Risk and Compliance Committee: David Kepler (chairman), Hasse Johansson, Kazuhiko Sakamoto, Ted Senko and Wolfgang Ziebart

The independent members of the board also resolved that Ringler would continue to serve as the lead independent director of the board.

Selection of Directors for Veoneer

As previously announced, Autoliv intends to spin off its Electronics business into a new public company called Veoneer with trading in Veoneer stock expected to begin early in the third quarter of 2018. Following the AGM, the board considered director appointments in both Autoliv and Veoneer following the intended spinoff.

It is expected that five current members of Autoliv’s board will serve on Veoneer’s board following completion of the spinoff. Those members are Robert Alspaugh, Jan Carlson, James Ringler, Kazuhiko Sakamoto and Wolfgang Ziebart.

It is expected that Alspaugh, Sakamoto and Ziebart will resign from Autoliv’s board in connection with the completion of the spinoff and the size of the Autoliv board will be reduced accordingly. Ringler and Carlson intend to continue to serve on Autoliv’s board after the completion of the spinoff. Announcements regarding additional expected members of Veoneer’s board and the committees of the Veoneer board will be made at a later date.