8-K
AUTOLIV INC (ALV)
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): May 30, 2023
Autoliv, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-12933 | 51-0378542 |
|---|---|---|
| (State or other jurisdiction<br><br>of incorporation) | (Commission<br><br>File Number) | (IRS Employer<br><br>Identification No.) |
| Klarabergsviadukten 70, Section B, 7th Floor, | ||
| --- | --- | |
| Box 70381, Stockholm, Sweden | SE-107 24 | |
| (Address of principal executive offices) | (Zip code) |
+46 8 587 206 00
(Registrant’s telephone number, including area code)
Not Applicable
(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)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which<br><br>registered |
|---|---|---|
| Common Stock (par value $1.00 per share) | ALV | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 30, 2023, Autoliv, Inc. (the “Company”) and Frithjof Oldorff, the Company’s President, Autoliv Europe, mutually agreed that Mr. Oldorff will step down as the Company’s President, Autoliv Europe, effective May 31, 2023. Mr. Oldorff will receive the severance and other termination benefits described for a termination without cause under his employment agreement with the Company, the terms of which have been previously disclosed in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on March 23, 2023, which description is incorporated herein by reference. A copy of the press release dated May 30, 2023 regarding the departure of Mr. Oldorff is filed as Exibit 99.1 to this report and is incorporated herein by reference.
Item 8.01 Other Events.
Appointment of President of Autoliv Europe
In a press release dated May 30, 2023, the Company announced that Magnus Jarlegren will be the next President of Autoliv Europe, effective June 1, 2023. Mr. Jarlegren replaces Frithjof Oldorff, who will leave the Company.
A copy of the press release dated May 30, 2023 regarding the appointment of Mr. Jarlegren 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 May 30, 2023 (President of Autoliv Europe). |
|---|---|
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
EXHIBIT INDEX
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release of Autoliv, Inc. dated May 30, 2023 (President of Autoliv Europe). |
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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 hereunto duly authorized.
| AUTOLIV, INC | |
|---|---|
| By: | /s/ Anthony J. Nellis |
| Name: | Anthony J. Nellis |
| Title: | Executive Vice President, Legal Affairs and General Counsel |
Date: June 2, 2023
EX-99.1
Exhibit 99.1
PRESS RELEASE
Magnus Jarlegren named the next President of Autoliv Europe
Stockholm, Sweden, May 30, 2023 - Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, has appointed Magnus Jarlegren, currently Executive Vice President, Operations, as the next President Autoliv Europe effective June 1, 2023. Magnus Jarlegren succeeds Frithjof Oldorff who will leave Autoliv to pursue new opportunities.
Magnus Jarlegren brings extensive experience from leading development and change management in global operations and driving operational excellence, leading the step change of the Autoliv Production System and plant improvement.
"I thank Frithjof for his contributions over the past four years and wish him well. Magnus’s operational excellence experience will be valuable in driving Autoliv Europe forward in a challenging market environment,” said Mikael Bratt, President and CEO of Autoliv.
Magnus Jarlegren’s direct report, Staffan Olsson, Vice President Seatbelt, will serve as the acting Head of Operations.
Inquiries:
Investors & Analysts: Anders Trapp, Tel +46 (0)8 587 206 71 Investors & Analysts: Henrik Kaar, Tel +46 (0)8 587 206 14
Media: Gabriella Ekelund, Tel +46 (70) 612 64 24
About Autoliv
Autoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world as well as mobility safety solutions, such as pedestrian protection, connected safety services and safety solutions for riders of powered two wheelers. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2022, our products saved close to 35,000 lives and reduced more than 450,000 injuries.
Our close to 70,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We drive innovation, research, and development at our 14 technical centers, with their 20 test tracks. Sales in 2022 amounted to US $ 8.8 billion. For more information go to 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. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and data available from third parties. 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 such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. 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 Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.
| Autoliv Inc.<br><br>Box 70381, 107 24 Stockholm, Sweden<br><br>Visiting address: World Trade Center, Klarabergsviadukten 70, B7, 111 64 Stockholm<br><br>Phone: +46 (0)8 587 20600<br><br>E-mail: gabriella.ekelund@autoliv.com |
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