Gerhard Federer has been a member of the Supervisory Board since 2016 and has, until now, been Chairman of the Audit Committee. After holding management positions in Germany and the United States, he moved to the materials and mechanical engineering company Schunk Group in 2003, where he was CEO between 2007 and 2013. “The Dürr Group is in a particularly good strategic and financial position. In my capacity as Chairman of the Supervisory Board, I will do my utmost to ensure that the company takes full advantage of its market opportunities in such fields of the future as digitalization, electromobility and sustainable production”, says Gerhard Federer.
Karl-Heinz Streibich has resigned from office since he is standing as a candidate for the Supervisory Board of Software AG with a view to becoming its Chairman. This would mean he would hold more than the maximum five supervisory board mandates recommended by the German Corporate Governance Code (chair counts double). Ralf W. Dieter, CEO of Dürr AG, thanked Mr. Streibich: “Karl-Heinz-Streibich has supported the Dürr Group with great dedication and analytical vision, and he has been actively involved in shaping the company’s strategic direction. With his knowledge of the IT industry, he has provided invaluable impetus for our digital transformation.” Karl-Heinz Streibich had been a member of the Dürr AG Supervisory Board since 2011 and took over as Chairman in 2018.
Arnd Zinnhardt was elected to the Supervisory Board as a new member at today’s annual general meeting. The financial expert first worked as a tax advisor and auditor before serving as CFO at Software AG for 18 years. He will be taking over as Chairman of the Audit Committee on the Dürr AG Supervisory Board.
Well prepared for the coronavirus crisis
As a result of the coronavirus pandemic, Dürr AG’s annual general meeting was held virtually and streamed live on the Internet. The shareholders approved the proposed dividend of € 0.80 per share by a large majority (previous year: € 1.00).
Speaking in front of around 550 online participants, Ralf W. Dieter emphasized the Dürr Group’s financial strength during the coronavirus crisis: “With free funds of € 1.8 billion, we are in a solid position and will overcome the upheaval caused by coronavirus.” In addition, the CEO looked to the future and emphasized the positive development of business in China over the last few weeks: “Despite the coronavirus-induced recession, we do see opportunities after the crisis, when companies will be making up for investments that are currently on hold. Our sites in China are leading the way: They are already in post-coronavirus mode, making up for lost sales and winning new orders. Demand in China is high particularly for production technology for electric cars.”
With 70% of the share capital present at the annual general meeting, the Board of Management and the Supervisory Board were discharged from liability with 98% of the votes each. The shareholders also approved all other motions put to the vote. The voting results are available → here.