UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 12, 2011
Autoliv, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 001-12933 | 51-0378542 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Vasagatan 11, 7th Floor, SE-111 20
Box 70381,
SE-107 24, Stockholm, Sweden
(Address of principal executive offices, including zip code)
+46 8 587 20 600
(Registrants telephone number, including area code)
World Trade Center,
Klarabergsviadukten 70,
Box 70381
SE-107 24 Stockholm, Sweden
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2 below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) | On December 12, 2011, Lars Westerberg, Chairman of the Board of Directors of Autoliv, Inc. (the Board) informed the Board that he wished to resign from the Board and asked that a successor be found as soon as possible. Mr. Westerberg will remain in his position until a new Chairman has been elected to maintain continuity and ensure a smooth transition. The next scheduled meeting of the Board of Autoliv, Inc. will take place on December 20, 2011. |
A copy of the press release is filed as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits |
(d) EXHIBITS
99.1 | Press Release of Autoliv, Inc. dated December 12, 2011. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
AUTOLIV, INC. | ||||||
Date: December 12, 2011 | ||||||
By: | /s/ Lars A. Sjöbring | |||||
Name: | Lars A. Sjöbring | |||||
Title: | Group Vice President Legal Affairs General Counsel and Secretary |
Exhibit 99.1
Autolivs Chairman Decides to Resign
(Stockholm, December 12, 2011) Mr. Lars Westerberg, who is Chairman of the Board of Autoliv, Inc., has informed the Board that he, after almost 13 years with the Company, wishes to resign from the Board and has asked the Board to find a successor as soon as possible. He will remain in his position until a new Chairman has been elected to maintain continuity and ensure a smooth transition.
The next scheduled meeting of the Board of Autoliv Inc. will take place on December 20, 2011.
Mr. Westerberg became President and CEO of Autoliv Inc. in February 1999 and was elected Chairman of the Companys Board in April 2007. Under his leadership, the Companys sales have more than doubled from $3.5 billion in 1998 to more than $8 billion expected this year.
Inquiries:
Lars Westerberg, Chairman of the Board, Autoliv Inc. | Tel.+46 8 587 20 600 | |
Mats Ödman, Vice President Corporate Communications | Tel. +46 8 587 20 623 |
About Autoliv
Autoliv Inc., along with its joint ventures, has 80 facilities with 48,000 employees in 29 countries. In addition, the Company has 10 technical centers in 9 countries around the world, with 21 test tracks, more than any other automotive safety supplier. Last twelve month sales amount to $8.1 billion, an increase of 13% compared to full year 2010. The Companys shares are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on the OMX Nordic Exchange in Stockholm (ALIV sdb). For more information about Autoliv, please visit our company website at www.autoliv.com.
Safe Harbor Statement
This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). All such statements are based upon our current expectations, various assumptions, and data available from third parties and apply only as of the date of this report. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that forward-looking statements will materialize or prove to be correct as these assumptions are inherently subject to risks and uncertainties such as without limitation, changes in general industry and market conditions, changes in and the successful execution of cost reduction initiatives and market reaction thereto, increased competition, changes in consumer preferences for end products, customer losses, bankruptcies, consolidations or restructuring, divestiture of customer brands, fluctuation in vehicle production schedules for which the Company is a supplier, continued uncertainty in program awards and performance, costs or difficulties related to the integration of any new or acquired businesses or technologies, pricing negotiations with customers, our ability to be awarded new business, product liability, warranty and recall claims and other litigation and customer reaction thereto, possible adverse results of pending or future litigation or infringement claims, negative impacts of governmental investigations and litigation related to the conduct of our business, legislative or regulatory changes, dependence on customers and suppliers, as well the risks identified in Item 1A Risk Factors in our Annual Report and Quarterly Report on Forms 10-K and 10-Q. Except for the Companys ongoing obligation to disclose information under the U.S. federal securities laws, the Company undertakes no obligation to update publicly any forward-looking statements whether as a result of new information or future events. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the PSLRA.
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