Saturday, August 27, 2016

Stada separates from AR boss Martin Evening: upheaval in hour 13 – Handelsblatt


the sensation is perfect: the chairman of the board of the pharmaceutical company must go.

(Photo: AP)

Frankfurt In the tug of war over the realignment of Bad Vilbel pharmaceutical manufacturer who opponents of the investment company active ownership Partners (AOC) only partially enforced and yet initiated an upheaval. The key results of the general meeting: The Supervisory Board Chairman Martin evening was voted out, a total of five representatives of the capital side draw new one in the nine-member Supervisory Board. Carl Ferdinand Oetker, the only shareholder representatives, who previously had been sitting in the control panel of Stada, was elected as the new chairman. And in this role, he had an immediate message ready, both parties can live with: “We all agree that we want to progress consistently on the path of renewal in the interest of the company; and to the right extent and pace. “

Stada – Martin Evening

Lack of crisis management was one of the many accusations against Martin Evening.

(Photo: AP)

The AOC representatives expressed their satisfaction “the shareholders of Stada have today clearly for a renewal of the Supervisory peak at Stada and thus the corporate governance of the company pronounced”, declared the AOC-founder Florian Schuhbauer and Klaus Röhrig. The fact that the proposed by-Stada Executive Board remuneration system with around three quarters of the vote was rejected, they considered a clear success. “These are significant steps for Stada.”

AOC had triggered the power struggle for the occupation of Stada Board in May with the request, to a large extent become vacant, the Panel. At the end of the investors brought only its own candidates, former Novartis manager Eric Cornut, who was elected to the Supervisory Board instead of evening. Incidentally, four candidates were elected, the Stada himself had proposed in response to the AOC thrust itself: the former Amgen Manager Rolf Hoffmann (57), Birgit Kudlek (49), most recently Chief Operating Officer Aenova, Opel Marketing Executive Tina Müller (47) and Gunnar Riemann (58), who had previously directed the Environmental Science at Bayer Crop Science. Kudlek and Riemann sat there in the fight against Voters Candidates of AOC by. Hoffmann and Müller were also supported by AOC and therefore selected as the only one with a clear majority of around 99 percent.

More than 13 hours takes the memorable general meeting. She was less turbulent than many expected, led towards the end but in a complicated and sometimes controversial voting procedure. In the meantime was to be feared that not all agenda items could be discussed until midnight. Only after 23 o’clock finally was clear the last and most exciting decision, the deselection evening and the choice Cornuts. The likewise proposed by AOC deselection Oetkers other hand, was previously rejected by a clear majority, as are the two Supervisory candidate Hans-Helmut Fabry and Klaus-Joachim Krauth.

In the spirit of a genuine shareholder democracy, the Assembly yielded so completely different, sometimes relatively scarce and some surprising results. For the removal evening voted around 55 percent of the capital represented. Kudlek and Riemann had the first attempt no majority behind him and sat down only through in a runoff against the AOC candidates. This result can be challenged in court if possible investors.


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