Following the successful takeover vote for STADA: Members of the Supervisory Board to step down from their posts
08/25/2017 - 08.49 AM . Press Release
- Chairman of the Supervisory Board Ferdinand Oetker: "We are passing on a successful company with great growth potential into the hands of its new majority shareholders“
- Five Supervisory Board members will step down from their posts with the statutory notice period of one month at the end of 25 September 2017
Bad Vilbel, August 25, 2017 – Following the decision by the majority of shareholders in STADA Arzneimittel AG to approve the takeover of the company by investment companies Bain Capital and Cinven, Ferdinand Oetker, Rolf Hoffmann, Dr. Birgit Kudlek, Tina Müller, and Dr. Gunnar Riemann have decided to step down from their positions as members of the Supervisory Board, effective as of the end of September 25, 2017 in accordance with the statutory notice period of one month. With this decision, the Supervisory Board enables the new majority shareholders to have a well-regulated succession in the appointment of the Supervisory Board. Dr. Eric Cornut will continue his position in the Supervisory Board.
"We are confident that the new majority shareholders in our company, Bain Capital and Cinven, will continue to grow STADA for the future with their growth concept ", said Ferdinand Oetker, Chairman of the Supervisory Board of STADA. "With negotiations having been announced for a domination and profit and loss transfer agreement, we view our task in the context of ownership changes to be complete. We have therefore decided to step down from our posts.”
“This Supervisory Board took on its role a year ago in turbulent times, and we have always acted in the best interests of shareholders, employees and customers", Oetker continued. "I would like to thank all the members of the Supervisory Board for their commitment over the past 12 months. They have created significant added value for all stakeholders through their competence and great dedication. We are passing on a successful company with great growth potential into the hands of its new majority shareholders. The Supervisory Board wishes Bain Capital and Cinven all the very best in their nurturing and shaping of STADA in the future. We would especially like to thank the employees for their support in the past."
The Supervisory Board will continue with its duties as usual and transfer them in a well regulated way. The appointment of successors to the Supervisory Board is expected to be made by a court decision in a timely manner.
About STADA Arzneimittel AG
STADA Arzneimittel AG is a publicly-listed company with headquarters in Bad Vilbel, Germany. STADA consistently focuses on a multi-pillar strategy of generics and branded products (OTC) with an increasingly international market orientation. Worldwide, STADA is represented in more than 30 countries with more than 50 subsidiaries. Branded products such as Grippostad and Ladival are among the highest selling in their product category in Germany. In financial year 2016, STADA achieved adjusted Group sales of Euro 2,167.2 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 398 million and adjusted net income of Euro 177.3 million. As of December 31, 2016, STADA employed about 10.900 people worldwide.
Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastraße 2–18 / 61118 Bad Vilbel – Germany / Phone: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-mail: email@example.com