6-K
Abb Ltd (ABLZF)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE
ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2024
Commission File Number 001-16429
ABB Ltd
(Translation of registrant’s name into English)
Affolternstrasse 44, CH-8050, Zurich, Switzerland
(Address of principal executive office)
Indicate by check mark whether
the registrant files or will file
annual reports under cover of Form 20-F
or Form 40-F.
Form 20-F
☒
Form 40-F
☐
Indicate by check mark if the registrant
is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(1):
☐
Note:
Regulation S-T Rule 101(b)(1) only
permits the submission in paper of
a Form 6-K if submitted solely to provide
an attached
annual report to security holders.
Indication by check mark if the registrant
is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(7):
☐
Note:
Regulation S-T Rule 101(b)(7) only
permits the submission in paper of
a Form 6-K if submitted to furnish a
report or other
document that the registrant foreign
private issuer must furnish
and make public under the laws
of the jurisdiction in which the
registrant is incorporated, domiciled
or legally organized (the registrant’s “home country”), or
under the rules of the home country
exchange on which the registrant’s securities are traded,
as long as the report or other document
is not a press release, is not required
to be and has not been distributed to
the registrant’s security holders, and, if discussing
a material event, has already been
the subject
of a Form 6-K submission or other Commission
filing on EDGAR.
Indicate by check mark whether
the registrant by furnishing the
information contained in this Form is
also thereby furnishing the
information to the Commission pursuant
to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes
☐
No
☒
If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):
82-
This Form 6-K consists of the following:
1.
Agenda and resolutions from the ABB Ltd Annual
General Meeting of Shareholders
held on March 21, 2024.
2.
Press release issued by ABB Ltd dated March
21, 2024, titled “ABB shareholders
approve all proposals at 2024
Annual
General Meeting”.
3.
Press release issued by ABB Ltd dated March
21, 2024, titled “ABB plans to
launch new share buyback of up to
$1 billion following completion of
2023-2024
program”.
2
ABB Ltd
TRAKTANDEN UND BESCHLÜSSE
AGENDA AND RESOLUTIONS
der ordentlichen Generalversammlung der Aktionärinnen und Aktionäre
from the Annual General Meeting of Shareholders
vom 21. März 2024, 10:00–11:30 Uhr
held on March 21, 2024, 10:00 a.m.–11:30 a.m.
in der Halle 550, Zürich Oerlikon, Schweiz
at Halle 550, Zurich Oerlikon, Switzerland
___________________________________________________________________________
1.
Genehmigung des Lageberichts, der Konzernrechnung und der Jahresrechnung 2023
1.
Approval of the management report, the consolidated financial
statements and the annual
financial
statements for 2023
Die
Generalversammlung
genehmigt
den
Lagebericht,
die
Konzernrechnung
und
die
Jahresrechnung 2023.
The
Annual
General Meeting
approves
the
management report,
the
consolidated financial
statements and
the annual financial statements for 2023.
Vertretene Stimmen:
Votes
represented:
1’085’339’116
Mehrheit:
Majority:
542’669’559
99.81 %
Ja /
Yes
1’083’261’483
Stimmen /
votes
0.01 %
Nein /
No
146’783
Stimmen /
votes
0.18 %
Enthaltung /
Abstention
1’930’850
Stimmen /
votes
ABB Ltd, Annual General Meeting
2024/Short Minutes
-
2/11 -
2.
Konsultativabstimmung über den Vergütungsbericht 2023
2.
Consultative vote on the Compensation
Report 2023
Die
Generalversammlung
stimmt
dem
Vergütungsbericht
2023
zu
(unverbindliche
Konsultativabstimmung).
The Annual General Meeting accepts
the Compensation Report 2023 (non-binding
consultative vote).
Vertretene Stimmen:
Votes
represented:
1’085’335’066
Mehrheit:
Majority:
542’667’534
90.48 %
Ja /
Yes
981’982’860
Stimmen /
votes
9.20 %
Nein /
No
99’832’810
Stimmen /
votes
0.32 %
Enthaltung /
Abstention
3’519’396
Stimmen /
votes
3.
Konsultativabstimmung über den Sustainability Report 2023
3.
Consultative vote on the Sustainability
Report 2023
Die
Generalversammlung
stimmt
dem
Sustainability
Report
2023
zu
(unverbindliche
Konsultativabstimmung).
The Annual General Meeting accepts
the Sustainability Report 2023 (non-binding
consultative vote).
Vertretene Stimmen:
Votes
represented:
1’085’341’066
Mehrheit:
Majority:
542’670’534
99.32 %
Ja /
Yes
1’077’905’242
Stimmen /
votes
0.19 %
Nein /
No
2’068’138
Stimmen /
votes
0.49 %
Enthaltung /
Abstention
5’367’686
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 3/11 -
Entlastung des Verwaltungsrates und der mit der Geschäftsführung betrauten Personen
4.
Discharge of the Board of Directors and the persons entrusted with management
Die
Generalversammlung
erteilt
den
Mitgliedern
des
Verwaltungsrates
und
den
mit
der
Geschäftsführung betrauten Personen Entlastung für das Geschäftsjahr
2023.
The
Annual
General
Meeting
grants
discharge
for
financial
year
2023
to
the
members
of
the
Board
of
Directors and the persons entrusted with management.
Vertretene Stimmen:
Votes
represented:
1’084’685’278
Mehrheit:
Majority:
542’342’640
98.68 %
Ja /
Yes
1’070’323’239
Stimmen /
votes
0.78 %
Nein /
No
8’452’619
Stimmen /
votes
0.54 %
Enthaltung /
Abstention
5’909’420
Stimmen /
votes
5.
Verwendung des Bilanzgewinns
5.
Appropriation of earnings
Die Generalversammlung
stimmt
dem
Antrag des
Verwaltungsrat
es
zu,
aus
dem
zur Verfügung
stehenden
Bilanzgewinn
von
CHF 3’982’369’258
eine
Dividende
von
CHF
0.87
brutto
je
Namenaktie
auszuschütten
(maximal CHF 1’637'342’240.25)
und
den
verbleibenden Betrag
des
Bilanzgewinns auf neue Rechnung vorzutragen.
The Annual
General Meeting approves
the proposal
of the Board
of Directors to
distribute a dividend
out
of
the
earnings
available
(CHF 3,982,369,258)
in
the
amount
of
CHF
0.87
gross
per
registered
share
(maximum
total
amount
CHF 1,637,342,240.25)
and
to
carry
forward
the
remaining
amount
of
the
available earnings to the new account.
Vertretene Stimmen:
Votes
represented:
1’085’339’756
Mehrheit:
Majority:
542’669’879
99.81 %
Ja /
Yes
1’083’272’307
Stimmen /
votes
0.05 %
Nein /
No
551’748
Stimmen /
votes
0.14 %
Enthaltung /
Abstention
1’515’701
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 4/11 -
Genehmigung der Vergütung des Verwaltungsrates
und der Geschäftsleitung
6.
Approval of the compensation of the Board of Directors and the Executive
Committee
6.1.
Genehmigung des maximalen Gesamtbetrags
der Vergütung des Verwaltungsrat
es für die
kommende Amtsdauer, d. h. von der Generalversammlung 2024 bis zur
Generalversammlung 2025
6.1.
Approval of the maximum aggregate amount of compensation
of the Board of Directors for the next term of
office, i. e. from the Annual General Meeting 2024
to the Annual General Meeting
2025
Die Generalversammlung genehmigt gemäss Antrag des Verwaltungsrates
The Annual General Meeting approves as proposed by the Board of Directors
den maximalen Gesamtbetrag der Vergütung des Verwaltungsrat
es für die Zeitspanne von der
Generalversammlung 2024 bis zur Generalversammlung 2025 im Betrag von
CHF 4’400’000.
the
maximum aggregate
amount of
compensation of
the
Board of
Directors covering
the
period from
the
Annual General
Meeting
2024 to the Annual General Meeting
2025 in the amount of CHF 4,400,000.
Vertretene Stimmen:
Votes
represented:
1’085’334’810
Mehrheit:
Majority:
542’667’406
98.60 %
Ja /
Yes
1’070’120’842
Stimmen /
votes
1.09 %
Nein /
No
11’789’023
Stimmen /
votes
0.31 %
Enthaltung /
Abstention
3’424’945
Stimmen /
votes
6.2.
Genehmigung des maximalen Gesamtbetrags
der Vergütung der Geschäftsleitung für das
folgende Geschäftsjahr, d. h. 2025
6.2.
Approval of the maximum aggregate amount of compensation
of the Executive Committee for
the following
financial year, i. e. 2025
Die Generalversammlung genehmigt gemäss Antrag des Verwaltungsrates
The Annual General Meeting approves as proposed by the Board of Directors
den maximalen Gesamtbetrag der Vergütung der Geschäftsleitung für das Geschäftsjahr 2025 im
Betrag von CHF 45’900’000.
the maximum aggregate amount of compensation of the Executive Committee for the financial year 2025 in
the amount of CHF 45,900,000.
Vertretene Stimmen:
Votes
represented:
1’085’337’932
Mehrheit:
Majority:
542’668’967
93.58 %
Ja /
Yes
1’015’665’035
Stimmen /
votes
6.10 %
Nein /
No
66’161’607
Stimmen /
votes
0.32 %
Enthaltung /
Abstention
3’511’290
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 5/11 -
Wahlen in den Verwaltungsrat
und Wahl des Präsidenten des Verwaltungsrates
7.
Elections to the Board of Directors and election of the Chairman
of the Board of Directors
Die Generalversammlung
wählt gemäss
Antrag des Verwaltungsrat
es folgende
Mitglieder in
den
Verwaltungsrat
für eine Amtsdauer bis zum
Abschluss der Generalversammlung 2025:
The Annual General Meeting elects
as proposed by the Board of Directors the following persons to the
Board of Directors for a term of office until completion of the
Annual General Meeting 2025:
●
David Constable,
als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.55 %
Ja /
Yes
1’080’411’483
Stimmen /
votes
0.29 %
Nein /
No
3’184’984
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’739’775
Stimmen /
votes
●
Frederico Fleury Curado, als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.43 %
Ja /
Yes
1’079’083’862
Stimmen /
votes
0.41 %
Nein /
No
4’491’889
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’760’491
Stimmen /
votes
●
Lars Förberg,
als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
98.67 %
Ja /
Yes
1’070’903’053
Stimmen /
votes
1.17 %
Nein /
No
12’716’204
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’716’985
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 6/11 -
●
Johan Forssell,
als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
90.03 %
Ja /
Yes
977’113’121
Stimmen /
votes
9.79 %
Nein /
No
106’273’087
Stimmen /
votes
0.18 %
Enthaltung /
Abstention
1’950’034
Stimmen /
votes
●
Denise Johnson, als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.69 %
Ja /
Yes
1’081’995’120
Stimmen /
votes
0.15 %
Nein /
No
1’639’026
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’702’096
Stimmen /
votes
●
Jennifer Xin-Zhe Li, als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
98.61 %
Ja /
Yes
1’070’238’168
Stimmen /
votes
1.22 %
Nein /
No
13’205’915
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’892’159
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 7/11 -
●
Geraldine Matchett,
als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.66 %
Ja /
Yes
1’081’676’549
Stimmen /
votes
0.17 %
Nein /
No
1’834’723
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’824’970
Stimmen /
votes
●
David Meline,
als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.61 %
Ja /
Yes
1’081’105’170
Stimmen /
votes
0.22 %
Nein /
No
2’333’975
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’897’097
Stimmen /
votes
●
Mats Rahmström,
als Mitglied / as Director
Vertretene Stimmen:
Votes
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
92.06 %
Ja /
Yes
999’193’238
Stimmen /
votes
7.75 %
Nein /
No
84’120’860
Stimmen /
votes
0.19 %
Enthaltung /
Abstention
2’022’144
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 8/11 -
●
Peter Voser,
als Mitglied und Präsident / as Director and Chairman
Vertretene Stimmen:
Votes
represented:
1’085’335’966
Mehrheit:
Majority:
542’667’984
91.75 %
Ja /
Yes
995’852’822
Stimmen /
votes
7.71 %
Nein /
No
83’630’385
Stimmen /
votes
0.54 %
Enthaltung /
Abstention
5’852’759
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 9/11 -
Wahlen in den Vergütungsausschuss
8.
Elections to the Compensation Committee
Die
Generalversammlung
wählt
gemäss
Antrag
des
Verwaltungsrates
folgende
Mitglieder
des
Verwaltungsrates
in
den
Vergütungsausschuss
für
eine
Amtsdauer
bis
zum
Abschluss
der
Generalversammlung 2025:
The Annual General Meeting elects as
proposed by the Board of Directors the following members of the
Board of Directors to the Compensation Committee for a
term of office until completion of the
Annual
General Meeting 2025:
●
David Constable
Vertretene Stimmen:
Votes
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
99.13 %
Ja /
Yes
1’075’943’553
Stimmen /
votes
0.67 %
Nein /
No
7’262’466
Stimmen /
votes
0.20 %
Enthaltung /
Abstention
2’127’944
Stimmen /
votes
●
Frederico Fleury Curado
Vertretene Stimmen:
Votes
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
97.48 %
Ja /
Yes
1’058’023’527
Stimmen /
votes
2.32 %
Nein /
No
25’178’052
Stimmen /
votes
0.20 %
Enthaltung /
Abstention
2’132’384
Stimmen /
votes
●
Jennifer Xin-Zhe Li
Vertretene Stimmen:
Votes
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
98.46 %
Ja /
Yes
1’068’575’371
Stimmen /
votes
1.34 %
Nein /
No
14’549’629
Stimmen /
votes
0.20 %
Enthaltung /
Abstention
2’208’963
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 10/11 -
Wahl der
unabhängigen Stimmrechtsvertreterin
9.
Election of the independent proxy
Die Generalversammlung wählt gemäss Antrag des Verwaltungsrat
es für eine Amtsdauer bis zum
Abschluss der ordentlichen Generalversammlung 2025:
The Annual General Meeting elects as
proposed by the Board of Directors for a term of office until
completion of the Annual General Meeting
2025:
●
Zehnder Bolliger & Partner,
Advokatur & Notariat, Bahnhofplatz 1, 5400 Baden,
Schweiz
als unabhängige Stimmrechtsvertreterin.
as independent proxy.
Vertretene Stimmen:
Votes
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
98.15 %
Ja /
Yes
1’065’316’559
Stimmen /
votes
1.73 %
Nein /
No
18’731’277
Stimmen /
votes
0.12 %
Enthaltung /
Abstention
1’286’127
Stimmen /
votes
10.
Wahl der Revisionsstelle
10.
Election of the auditors
Die
Generalversammlung
wählt
gemäss
Antrag
des
Verwaltungsrates
KPMG
AG,
Zürich,
als
Revisionsstelle für das Geschäftsjahr 2024.
The Annual General Meeting elects
as proposed by the Board of Directors KPMG AG, Zurich, as the
auditors for financial year 2024.
Vertretene Stimmen:
Votes
represented:
1’085’331’703
Mehrheit:
Majority:
542’665’852
99.41 %
Ja /
Yes
1’078’957’998
Stimmen /
votes
0.42 %
Nein /
No
4’533’084
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’840’621
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 11/11 -
Zürich, 21. März 2024
Für das Protokoll:
For the minutes:
/s/ Peter Voser
/s/ Natalia Shehadeh
Peter Voser
Natalia Shehadeh
Präsident des Verwaltungsrates
Chairman of the Board of Directors
Leiterin der Konzernrechtsabteilung und
Sekretärin des Verwaltungsrates
ad interim
General Counsel and
Secretary to the Board of Directors
ad interim
ABB AGM 2024 Short Minutes
—
ZURICH, SWITZERLAND,
MARCH 2
1
, 202
4
ABB shareholders approve all
proposals at 2024 Annual General
Meeting
ABB shareholders have approved
all the proposals of the
company’s Board of Directors at its 2024
Annual
General Meeting, which was held
in Zurich, Switzerland, today. A total of 623 shareholders
attended the
meeting who, together with the independent
proxy, represented 57.7 percent of the total share capital with
a
right to vote.
The shareholders supported the proposed
distribution of an increased
dividend of CHF 0.87 per share.
The
dividend payment in Switzerland
is planned for March 27, 2024. The
shareholders also approved
the
management report, the consolidated
financial statements and the annual
financial statements for 2023.
Furthermore, the shareholders granted
discharge to the Board
of Directors and the persons
entrusted with
management for the financial
year 2023.
Peter Voser was confirmed as Chairman of the company’s
Board of Directors. Johan Forssell
and Mats
Rahmström were elected as new
members to the Board
while Jacob Wallenberg and Gunnar
Brock did not
stand for re-election as announced
previously. All other members of the Board were re-elected for
another
term: David Constable, Frederico
Fleury Curado, Lars Förberg, Denise
C. Johnson, Jennifer Xin-Zhe Li,
Geraldine Matchett and David
Meline.
In addition, shareholders approved
the maximum aggregate amount
of compensation of the Board
of
Directors for the 2024–2025 term of
office and of the Executive Committee
for the 2025 financial year. In a
non-binding consultative vote, the shareholders
voted in favor of the compensation
report and of the
sustainability report for 2023, the latter
submitted to a shareholders’
vote for the first time as required by the
revised Swiss Code of Obligations.
The final results of the Annual
General Meeting are available
on go.abb/agm. ABB will be reporting its
first
quarter results on April 18, 2024.
ABB
is a technology leader in electrification
and automation, enabling
a more sustainable and resource-
efficient future. The company’s solutions connect
engineering know-how
and software to optimize how things
are manufactured, moved, powered
and operated. Building
on over 140 years of excellence, ABB’s more
than 105,000 employees are committed
to driving innovations that accelerate
industrial transformation.
www.abb.com
—
For more information please
contact:
Media Relations
Phone: +41 43 317 71 11
Email: [email protected]
Investor Relations
Phone: +41 43 317 71 11
Email: [email protected]
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
1/1
—
ZURICH, SWITZERLAND,
MARCH 2
1
, 202
4
ABB plans to launch new share
buyback of up to $1 billion following
completion of 2023-2024 program
ABB has completed its share buyback
program that was launched
in April 2023. Through this buyback
program, ABB repurchased a total
of 21,387,687 shares – equivalent
to 1.09 percent of its issued share
capital at launch of the buyback program
– for a total amount of approximately
$0.83 billion over the past
12 months.
ABB’s Board of Directors intends to use
the capital band approved
at the 2023 Annual General Meeting to
cancel all shares repurchased
under the 2023–2024 share buyback
program.
Consistent with ABB’s capital allocation
principles, the Board of Directors
today approved a new share
buyback program for capital reduction
purposes of up to $1 billion.
The new program is expected to be
launched in early April 2024.
It will be executed on a second trading
line on the SIX Swiss Exchange
and is
planned to run until January 31, 2025.
The company has decided
to adjust the timing of its share buyback
cycle to align with the announcement
of its Q4 2024 results and 2024
dividend proposal.
ABB intends to also use the capital
band for the cancellation
of the shares repurchased under
this new
program.
In addition, ABB intends to purchase up
to 10 million shares by the end of
January 2025 mainly for use in
connection with its employee share
plans. The purchases
will be made at the market price
on the ordinary
trading line on the SIX Swiss Exchange.
ABB currently owns approximately
47 million treasury shares,
including 21 million
shares repurchased for
cancellation purposes.
ABB
is a technology leader in electrification
and automation, enabling
a more sustainable and resource-
efficient future. The company’s solutions connect
engineering know-how
and software to optimize how
things are manufactured, moved, powered
and operated. Building
on over 140 years of excellence, ABB’s
more than 105,000 employees are
committed to driving innovations
that accelerate industrial
transformation. www.abb.com
Important notice about
forward-looking information
This press release includes
forward-looking information
and statements concerning
the share buyback program.
These
statements are based on
current expectations,
estimates and projections
about the factors
that may affect our future
performance, and are generally
identifiable by statements
containing words such
as “intends”, “expects,”
“plans”, or
similar expressions. However, there
are many risks and
uncertainties, many of
which are beyond
our control, that could
affect our ability to achieve
any or all of our stated
targets. Factors that
could cause such differences
include, among
others, business risks associated
with the volatile
global economic environment
and political conditions,
changes in
1/2
governmental regulations
and currency exchange
rates and such other
factors as may be discussed
from time to time
in ABB Ltd’s filings with
the U.S. Securities and
Exchange Commission,
including its Annual Reports
on Form 20-F.
Although ABB Ltd believes
that its expectations
reflected in any such
forward-looking statement
are based upon
reasonable assumptions,
it can give no assurance
that those expectations
will be achieved.
—
For more information please
contact:
Media Relations
Phone: +41 43 317 71 11
Email: [email protected]
Investor Relations
Phone: +41 43 317 71 11
Email: [email protected]
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
ABB PLANS TO LAUNCH
NEW SHARE BUYBACK
OF UP TO $1 BILLION FOLLOWING
COMPLETION OF
2023-2024
PROGRAM
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SIGNATURES
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.
ABB LTD
Date: March 22, 2024.
By:
/s/ Ann-Sofie Nordh
Name:
Ann-Sofie Nordh
Title:
Group Senior Vice President and
Head of Investor Relations
Date: March 22, 2024.
By:
/s/ Richard A. Brown
Name:
Richard A. Brown
Title:
Group Senior Vice President and
Chief Counsel Corporate & Finance