Knorr-Bremse Annual Meeting Sets Dividend, Elects Chairman

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Source: Knorr-Bremse announcement

MUNICH — At the 2022 Annual General Meeting for Knorr-Bremse AG, the shareholders accepted the proposal made by the Executive Board and Supervisory Board to distribute a dividend of €1.85 per share with dividend rights (161,200,000 shares) for the 2021 fiscal year.

This dividend is 22 percent higher than the one the year before. The amount distributed therefore comes to approximately €298 million or 46 percent of the Group’s net income in 2021.

The Annual General Meeting was again held virtually. A total of 91.58 percent of the capital stock of Knorr-Bremse, the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial-vehicle systems, was represented at the Annual General Meeting.

The shareholders elected new members Dr. Reinhard Ploss and Dr. Sigrid Nikutta to the Supervisory Board. The Supervisory Board then elected Dr. Ploss to be its new Chairman at an extraordinary meeting directly after the Annual General Meeting.

Dr. Ploss is therefore the successor to Prof. Dr. Klaus Mangold, who stepped down as planned and left the Supervisory Board. Dr. Thomas Enders also stepped down from his position as previously announced. He has been replaced by Dr. Nikutta, which now means there are five women and seven men on the Supervisory Board.

“Knorr-Bremse is a globally successful, high-tech corporation today, “ saidDr. Ploss, Chairman of the Knorr-Bremse AG Supervisory Board. “I would like to thank Prof. Dr. Mangold for his outstanding commitment in his role as Supervisory Board Chairman. Thanks to his deep understanding of the Company and its employees, he made a significant contribution to the development of Knorr-Bremse.

“As the new Chairman of the Supervisory Board, I am pleased to accompany this global market leader, which is both rich in tradition and innovative, on its path to further growth. There are major challenges ahead of us as we are living in times of global change.

“Nevertheless, Knorr-Bremse is a strong company which is ready to adapt. It has proved on numerous occasions in the past that such periods of upheaval also create new opportunities that need to be seized.”

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A recording of the speeches by the Supervisory Board Chairman and the Executive Board, and the tabulations of the votes cast for the individual agenda items at the Annual General Meeting are available by clicking HERE.

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