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H&M adds new members to Board of Directors

December 19, 2013 (Sweden)

The Election Committee has now completed its work on proposals to the Annual General Meeting on 29 April 2014 for the composition of the Board of Directors.

The Election Committee proposes that Lena Patriksson Keller and Niklas Zennström be elected as new members of the Board of Directors and that the following present directors be re-elected: Anders Dahlvig, Lottie Knutson, Sussi Kvart, Stefan Persson, Melker Schörling and Christian Sievert. Bo Lundquist has declined re-election. Mia Brunell-Livfors has asked to be relieved of her position on the Board of H&M as of 1 January 2014 because she is to take up a position on the Board of a company in the same industry.

The Committee proposes that Stefan Persson be re-elected as Chairman of the Board.

“I am very pleased that Lena Patriksson Keller and Niklas Zennström have agreed to be proposed as new members of H&M’s Board. Lena Patriksson Keller has long experience of the fashion industry and will contribute a great knowledge of fashion and communications, among other things.

"Niklas Zennström has a thorough background as a successful entrepreneur with extensive expertise in areas such as IT and online. Niklas Zennström’s experience will be valuable for H&M’s future online expansion,” says Stefan Persson, Chairman of H&M’s Election Committee and of H&M’s Board of Directors.

Lena Patriksson Keller was born in 1969 and has worked in the fashion industry for more than 20 years, both from an international and a local perspective, focusing on branding and communications but also in buying, distribution and product range. Lena Patriksson Keller is the founder and owner of Patriksson Communication, where she is now Executive Chairman. Lena was previously part-owner of Whyred and has worked at J. Lindeberg AB and H&M.

Other board assignments include positions on the boards of WESC and NSP (Nordic Service Partners) and as chairman of the board of ASFB, the industry organisation Association of Swedish Fashion Brands. Education: Design and Marketing at Parsons School of Design in New York and at the American University in London. Her own shareholding in H&M amounts to 700 shares and related parties’ holdings amount to 9,450 shares.

Niklas Zennström was born in 1966 and has co-founded companies including venture capital company Atomico, IP telephony company Skype, file sharing service Kazaa and internet video service Joost.

Along with his wife Catherine, Niklas Zennström established Zennström Philanthropies which supports organisations particularly associated with climate change, social entrepreneurship, the Baltic Sea environment and human rights.

Niklas Zennström began his career at Tele2 and was later CEO of everyday.com. Niklas is currently CEO of Atomico, which focuses on fast-growing tech companies. Niklas Zennström is a member of the board of Rovio. Education: Dual degrees in Business Administration and Engineering Physics from Uppsala University. His shareholding in H&M amounts to 0 shares.

The Election Committee comprises Stefan Persson, Lottie Tham, Liselott Ledin from Alecta, Jan Andersson from Swedbank Robur Fonder and Anders Oscarsson from AMF Pension. The members of the Election Committee are backed by shareholders who together represent around 75 percent of the total votes in the company.

The Election Committee’s full proposals will be presented in the notice of H&M’s Annual General Meeting placed in Svenska Dagbladet, Dagens Nyheter and Post- och Inrikes Tidningar.


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