DGAP-News: STADA Arzneimittel AG / Key word(s): Miscellaneous
STADA Arzneimittel AG: STADA begins process for significant renewal of its
Supervisory Board
22.05.2016 / 16:15
The issuer is solely responsible for the content of this announcement.
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- Renewal plans for Supervisory Board composition brought forward by two
years
- Structured candidate selection process launched
- Supervisory Board Chairman Dr. Abend: "Clear profiles to find the best-
possible candidates to support STADA's long-term growth strategy."
- Annual General Meeting 2016 postponed to August 26 to ensure orderly
and transparent selection process
Bad Vilbel, May 22, 2016 - Today, the Supervisory Board of STADA
Arzneimittel AG resolved to bring forward by two years the structured
process to significantly renew the Supervisory Board. At least three
candidates with a term of office of five years will be proposed for
election at the Annual General Meeting 2016. The candidates will be
identified by a special nomination committee of the Supervisory Board with
the support of external advisors and nominated by the Supervisory Board.
The candidates will be selected on the basis of a clearly defined set of
criteria. The existing nomination committee will be extended; the
Supervisory Board Member Dieter Koch will chair it.
"With this decision we are bringing forward by two years the significant
renewal of STADA's Supervisory Board, which was originally planned for
2018, while ensuring for the company's benefit that the experience within
the current Supervisory Board is preserved for the transformation process"
said Dr. Martin Abend, Chairman of the Supervisory Board. "In recent years,
STADA has successfully pursued a strategy of internationalization and
diversification, and these steps are designed to respond to this
development. With a structured selection process based on a clear set of
selection criteria for potential new Supervisory Board members we will
ensure that we identify the best-possible candidates to successfully
support STADA's growth strategy in a continuous manner and in the long-term
manner."
In selecting suitable candidates, the Supervisory Board's Nomination
Committee will place particular emphasis on the potential candidates'
relevant expertise and experience in the fields of generic pharmaceuticals
and OTC products, their expertise in finance, audit and legal matters as
well as on their personal independence. The Nomination Committee will also
give due consideration to the recommendations of the German Corporate
Governance Code and international proxy advisors as well as to the
legislative goals of Germany's Law on Equal Participation of Men and Women
in Private-Sector Management Positions.
Upon STADA's request, the three candidates named in advance by Active
Ownership Capital have advised that they will need a reflection period to
consider taking part in the selection process.
"We welcome this forward-looking decision of the Supervisory Board to
support STADA's successful growth strategy for generic pharmaceuticals and
OTC products by initiating a significant renewal of the supervisory body
composition. We take this opportunity to thank all of the current
Supervisory Board members for their advice in recent years. They have made
an important contribution to STADA's transformation from a provider of
generic pharmaceuticals with a focus on the German market to a successful
international health care company. This decision taken today serves the
best interest of our company, the Supervisory Board creates the foundation
for a further positive development of our company," said Hartmut Retzlaff,
Chairman of the Executive Board.
In order to guarantee a structured and transparent process for the
selection of candidates and for the preparation of the election of the new
Supervisory Board members, STADA's Annual General Meeting will be postponed
from its original date of June 9 to August 26, 2016. The other agenda items
for the Annual General Meeting will remain unchanged. This also applies to
the proposal to cancel the limited transferability of registered shares. In
light of recent jurisdiction and new market requirements the Supervisory
Board will initiate an external assessment of the Executive Board's
compensation system.
The company has also informed its shareholders about these decisions in an
open letter published today on STADA's website. The open letter to the
shareholders is available on www.stada.com/agm2016.
Additional information for analysts:
STADA Arzneimittel AG / Investor Relations / Stadastraße 2-18 / 61118 Bad
Vilbel - Germany /
Tel.: +49 (0) 6101 603-113 / Fax: +49 (0) 6101 603-215 / E-mail:
ir@stada.de
Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastraße 2-18 / 61118 Bad
Vilbel - Germany /
Tel.: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-mail:
press@stada.de
Or visit us in the Internet at www.stada.com.
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22.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: STADA Arzneimittel AG
Stadastraße 2-18
61118 Bad Vilbel
Germany
Phone: +49 (0)6101 603- 113
Fax: +49 (0)6101 603- 506
E-mail: communications@stada.de
Internet: www.stada.de
ISIN: DE0007251803, DE0007251845,
WKN: 725180, 725184,
Indices: MDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart; Terminbörse EUREX
End of News DGAP News Service
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465585 22.05.2016
DGAP-News: STADA Arzneimittel AG: STADA begins process for significant renewal of its Supervisory Board
| Source: EQS Group AG