At Fraport AG’s first virtual-only Annual General Meeting (AGM) today, shareholders approved all agenda items. Shareholders ratified the actions of the company’s executive and supervisory boards for fiscal year 2019, by 99.94 percent and 98.19 percent respectively.
Furthermore, 99.98 percent of the shareholders approved the proposal to suspend the dividend for fiscal year 2019. The entire profit earmarked for distribution will instead flow into the revenue reserve. 94.24 percent of the shareholders also agreed to the resolution for implementing a new Executive Board remuneration System.
At the close of the Fraport AGM, Karlheinz Weimar stepped down from the Supervisory Board after serving for more than 16 years. He will be succeeded as Supervisory board member by Hessian finance minister Michael Boddenberg, who received 79.57 percent of the shareholder votes. At the next Supervisory Board meeting, Boddenberg will be proposed as a candidate for the chairman of Fraport AG’s Supervisory Board.
More than 1,300 participants followed this year’s live-stream AGM. 79.86 percent of Fraport AG’s capital stock were represented. Fraport supervisory board chairman Karlheinz Weimar officially opened the AGM at 10:00 and concluded the proceedings at 13:28.