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Autoliv appoints Chairman of the Board and Lead Independent Director

The Board of Directors of Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, at a meeting on May 4, 2014, elected Mr. Jan Carlson to serve as its new Chairman of the Board, effective immediately.  Since April 3, 2014, Mr. Carlson has been serving as Interim Chairman following the … Continued

The Board of Directors of Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, at a meeting on May 4, 2014, elected Mr. Jan Carlson to serve as its new Chairman of the Board, effective immediately.  Since April 3, 2014, Mr. Carlson has been serving as Interim Chairman following the resignation of the previous Chairman Mr. Lars Nyberg.

Mr. Carlson is the President and Chief Executive Officer of Autoliv, a position he has held since 2007. The Board believes that Mr. Carlson’s long experience with Autoliv, including the extensive knowledge of the Company he has gained through his service as President and Chief Executive Officer, as well as his deep knowledge of the auto industry, make him the best choice for Chairman at this time.

Jan Carlson joined Autoliv in 1999. Prior to becoming the President and CEO he has held the positions of President Europe, President Electronics and Vice President Engineering. He is additionally a board member of BorgWarner Inc. and Trelleborg AB.

At the same meeting, the Board approved amendments to the Company’s Corporate Governance Guidelines to provide for a Lead Independent Director if the position of Chairman is held by an officer of the Company. The Lead Independent Director will generally be responsible for ensuring that the views of the independent directors are adequately considered and weighed in the Board’s decision-making process, and to perform the specific duties set out in the amended Corporate Governance Guidelines. Consistent with the Company’s commitment to strong corporate governance, the Board believes that appointing a Lead Independent Director will counterbalance any issues and concerns related to the Board having a non-independent Chairman.

Because Mr. Carlson is both an officer of the Company and the Chairman, pursuant to the amended Corporate Governance Guidelines, at the same meeting, the independent members of the Board selected Mr. George Lorch to serve as the Lead Independent Director, effective immediately. Mr. Lorch has been a director of the Company since June 2003 and currently is the Chairman of the Nominating and Corporate Governance Committee.

A copy of the amended Corporate Governance Guidelines is available at the Company’s website at the following address: http://www.autoliv.com/AboutUs/Governance/Pages/Ethics-and-Policies.aspx.

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