The 2017 Annual Report was approved and the members of the Board of Directors and the Group Executive Board were discharged for the financial year 2017. RUAG is paying its owner, the Swiss Confederation, a dividend of CHF 40 million. Dr. Remo Lütolf has been elected as the new Chairman of the Board of Directors of RUAG Holding AG.
Dr. Remo Lütolf has been elected as the new Chairman of the Board of Directors. The 62-year-old has been Vice Chairman of the RUAG Board of Directors and a member of the “Strategy Committee” since 2014. Due to his appointment as Chairman, Dr. Lütolf will step down from his position as Chairman of the Executive Board of ABB Schweiz AG in mid-2018. Remo Lütolf studied electrical engineering at the ETH Zurich, graduating as a Dr. sc. techn. ETH. He expressed his thanks for the trust placed in him and is looking forward to his new role.
The departing Chairman of the Board of Directors Hans-Peter Schwald gave RUAG, the Group Executive Board and the employees an excellent testimonial and wished the company and his successor all the best. Mr Schwald has been a member of the Board of Directors since 2002 and Chairman of the Board of Directors since 2014. He announced in November 2017 that he would no longer be standing for re-election.
With net sales of CHF 1955 million (prior year: CHF 1858 million), RUAG managed to once again achieve a new record, surpassing the previous year’s figure by 5.2%.