DUBLIN--(BUSINESS WIRE)--Mar. 13, 2012--
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.
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.
Eric Kraus, 508-261-8305
Senior Vice President
Lannum, CFA, 508-452-4343