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Covidien Announces Results from 2012 Annual General Meeting

DUBLIN--(BUSINESS WIRE)--Mar. 13, 2012-- Covidien plc (NYSE: COV) announced the results from today’s Annual General Meeting. Seven proposals were on the meeting agenda:

  • Election of Directors
  • Appointment of Independent Auditors
  • An advisory vote to approve the Company’s executive compensation
  • Authorization of the Company and/or any subsidiary to make market purchases of Company shares
  • Authorization of the reissue price range of treasury shares
  • Amendment of the Company’s Articles of Association to provide for escheatment in accordance with U.S. laws, and
  • Amendment of the Company’s Articles of Association to give the Board of Directors authority to declare non-cash dividends.

At the meeting, shareholders elected all 10 nominees, each of whom currently serves on Covidien’s Board of Directors. They are: José E. Almeida, Craig Arnold, Robert H. Brust, John M. Connors, Jr., Christopher J. Coughlin, Timothy M. Donahue, Randall J. Hogan, III, Martin D. Madaus, Dennis H. Reilley and Joseph A. Zaccagnino.

Shareholders also approved the appointment of Deloitte & Touche LLP to serve as the Company’s independent auditors, and, in an advisory vote, approved the Company’s executive compensation. Shareholders authorized Covidien and/or any of its subsidiaries to make market purchases of Company shares and authorized the price range at which the Company can reissue shares it holds as treasury shares. In addition, shareholders also approved two amendments to Covidien’s Articles of Incorporation – one to provide for escheatment in accordance with U.S. laws and one to give the Board of Directors authority to declare non-cash dividends.

ABOUT COVIDIEN

Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2011 revenue of $11.6 billion, Covidien has 41,000 employees worldwide in more than 65 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.

Source: Covidien

Covidien
Eric Kraus, 508-261-8305
Senior Vice President
Corporate Communications
eric.kraus@covidien.com
or
Coleman Lannum, CFA, 508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com
or
Bruce Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com
or
Todd Carpenter, 508-452-4363
Director
Investor Relations
todd.carpenter@covidien.com

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