KLM previously decided and announced the following in response to the corona crisis: the fixed salaries of the Board of Managing Directors will not be increased in 2020, pay-out of variable remuneration for 2019 has been postponed, and board members have waived their right to variable remuneration for 2020. Furthermore, the previously proposed amendment of future executive remuneration policy, initially scheduled for discussion at today’s shareholder meeting, was scrapped from the agenda.
Appointments to the KLM Supervisory Board
The shareholders today voted in favour of appointing Christian Nibourel to the KLM Supervisory Board. Mr Nibourel is currently chairman of the consultancy OneUp. He was previously CEO of Accenture for the Benelux and France. He succeeds Philippe Calavia, who will step down after eight years on the KLM Supervisory Board.
The shareholders also voted in favour of the reappointment of François Enaud and Pierre-François Riolacci for a second four-year term on the KLM Supervisory Board.
Allocation of results
During the meeting, the allocation of results was also explained. Of the EUR 449 million in net income earned in 2019, EUR 429 million will be added to the KLM reserves. A sum of EUR 20.6 million will be paid out to the holders of ordinary shares, priority shares, cumulative preferential A shares, and cumulative preferential C shares. It has been agreed that the sum earmarked for AIR FRANCE KLM as a shareholder (EUR 20 million) will not be paid out at present.
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