Fraport AGM 2020: Shareholders approve all agenda items

Shareholders ratified actions of Fraport’s Executive and Supervisory boards for business year 2019. Suspension of dividend approved. Hesse’s finance minister Michael Boddenberg elected to the Supervisory Board.

At Fraport AG’s first virtual-only Annual General Meeting (AGM), 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.

Finance Minister Boddenberg Elected as New Chairman of Fraport’s Supervisory Board
Fraport AG’s Supervisory Board elected Hessian finance minister Michael Boddenberg as their new chairman. Michael Boddenberg succeeds Karlheinz Weimar, who stepped down at the close of yesterday's Annual General Meeting (AGM) – after leading the Supervisory Board for more than 16 years. The shareholders elected Michael Boddenberg to the Supervisory Board at yesterday’s AGM.

Michael Boddenberg said: “Frankfurt Airport is a leading international hub of great importance not only for the Frankfurt region, but Germany as a whole. As chairman of Fraport’s Supervisory Board, I am very pleased to accompany and support Fraport’s ongoing development. I am convinced – despite the major challenges facing us – that together we will be able to continue Fraport AG's success story over the long term. By responding quickly and decisively to the current global aviation crisis, we will be able to ensure the company's future competitiveness. At the same time, we will also keep a watchful eye on the legitimate interests of employees, customers, shareholders and residents alike."