Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, announces that Veoneer has named Jan Carlson its Chairman following the completion of the spin-off. Jan Carlson has been President and CEO of Veoneer since April 1, 2018. Also, the registration statement filed by Veoneer with the Securities and Exchange Commission (SEC) in the United States became effective and the prospectus submitted to the Swedish Financial Supervisory Authority (SFSA) in Sweden was approved and registered on June 8.
On May 24, 2018, Autoliv announced that its board of directors approved a pro rata distribution to Autoliv stockholders of all of the outstanding shares of Veoneer. The spin-off is expected to be completed on June 29, 2018.
Following the completion of the spin-off, Jan Carlson will be the Chairman of the board of directors of Veoneer and will remain Chairman of the board of directors of Autoliv. Board members of Veoneer will be: Jan Carlson (Chairman), Robert W. Alspaugh, Mary Louise Cummings, Mark Durcan, James M. Ringler, Kazuhiko Sakamoto, Jonas Synnergren and Wolfgang Ziebart.
Mikael Bratt, current President of Autoliv’s Passive Safety business segment, will as previously announced assume the position of President and CEO for Autoliv following the completion of the spin-off. As previously announced, board members of Autoliv will be: Jan Carlson (Chairman), Hasse Johansson, Leif Johansson, David E. Kepler, Franz-Josef Kortüm, Xiaozhi Liu and Ted Senko.
The registration statement on Form 10 previously filed by Veoneer with the SEC to register its common stock for listing on the New York Stock Exchange became effective on June 8, 2018. On the same day, Veoneer’s prospectus for the listing of its Swedish Depository Receipts (SDRs) on Nasdaq Stockholm was approved and registered by the SFSA. The registration statement includes an information statement which describes the spin-off in detail and contains important business and financial information about Veoneer. The information statement and prospectus are publicly available on www.veoneer.com and on www.autoliv.com/investors/veoneer-spin.
The first day of regular way trading for Veoneer common stock on the New York Stock Exchange and SDRs on Nasdaq Stockholm is expected to be July 2, 2018. Details regarding the process of the listing can be found in an Autoliv press release published on May 24, 2018, which is available on www.autoliv.com and www.veoneer.com.
