Friday, August 26, 2016

Stada-General Meeting: Shareholders elect supervisory board from evening –

The current supervisory board chairman Martin evening of pharmaceutical company Stada has been voted at the meeting. Thus sat down on Friday the critical active ownership Investor Capital (AOC) by. The election was preceded by a violent slugfest between evening and the major shareholder.

Born in 1957, Swiss lawyer Eric Cornut moved to the Supervisory Board after. He has held several management positions at the pharmaceutical company Novartis in the past and is proposed by AOC as chairman. but It must still vote the Supervisory Board. Evening had the control panel pre stood since of 2009. His deputy Carl Ferdinand Oetker was however left by the shareholders in office. As one of four new came Opel marketing boss Tina Müller in the Panel.

Mutually serious allegations

Before the crucial vote to the new supervisory board members, the major shareholder had and chairman of the board Evening mutually coated with sharp accusations. Evening and his deputy Oetker had failed in its supervisory function over several years, said the AOC cofounder Florian Schuhbauer who ran the deselection of all six shareholder representatives in the nine-member supervisory committee. Ultimately, only came Cornut as counterproposal by.

In the poorly managed companies they have “salary excesses and nepotism” tolerated under the now retired CEO Hartmut Retzlaff. “Evening and Oetker can not be part of a new beginning, because they are part of the old system,” he said. The shareholders refused the company’s approval of a new salary system for the management board.

AOC wants Stada not battered

Schuhbauer assured that AOC is long-term oriented and the company as an anchor investor in the future would lead. He presented to the shareholders quick saving successes and medium strong appreciation in view. “AOC will not Stada smashed,” said another representative of the investment company that controls about 7 percent of Stada’s shares by its own account.

chief inspector evening, for its part, the independence of the designated AOC candidates for the Supervisory doubts. He cited estimates, which suggested a proximity to pharmaceutical giant Novartis. In addition, the evening had warned shareholders against exchange the shareholder representatives on the Supervisory Board completely. “This would mean a complete renunciation of control and experience

One must be grateful to activist shareholders, however, said Peter Barth, representative of the German protection combination for security possession (DSW):.” Stada is awake from its slumber shaken been, not kissed awake. “the Aktionaersschuetzer demanded the other part of major shareholder AOC disclosure of their own interests. the company kick as” self-proclaimed white knight with visor down “on, so can not even be ruled out that behind’m a competitor.

Record participation in the Annual General meeting

for weeks openly aired conflict had a record attendance at the meeting geführt.Im Frankfurter Messe Congress Centrum good 57 percent of the capital was represented, as the Assembly manager Karin Arnold told. in former shareholder meetings were more than 37 percent of the shares present.

the acting head of the manufacturer of generic and branded medical stressed the independence of the company from Bad Vilbel near Frankfurt. “Our business model is very healthy. Stada does not need to reinvent itself, “said the first few weeks Acting CEO Matthias Wiedenfels. Self-critical, he noted that Stada had its potential not fully exploited in the past. It is not transparent enough and too hierarchical oriented.


No comments:

Post a Comment