NZZ: Shareholder group demands a seat on the Board of Directors
According to the *Sonntagszeitung*, the NZZ Board of Directors is reportedly negotiating quietly and discreetly with shareholders who are dissatisfied with the current leadership and are therefore demanding representation on the board.
According to the Sonntagszeitung newspaper, the NZZ Board of Directors is to negotiate quietly and secretly with shareholders who are dissatisfied with the current management and are therefore demanding representation on the top board. Two asset managers are behind the move, including Erhard Lee, who holds around one hundred non-voting NZZ shares through his AMG Analysen & Anlagen AG. "We have agreed to maintain confidentiality with the representatives of the shareholder group in question," NZZ President Conrad Meyer told the Sonntagszeitung. However, the shareholders will be informed in good time whether the agenda item for an election to the Board of Directors is "relevant or not" for the Annual General Meeting on April 18.
Under the intertitle "There is rumbling in the NZZ shareholder base", "Praktikus", which is a popular read among investors, publicized the tug-of-war behind the scenes in Wednesday's Finanz und Wirtschaft. Both sides are keeping quiet about who the new board candidate is. However, the concerned NZZ shareholders around Erhard Lee have given assurances that there will not be a contest. They hope that the Board of Directors will give in. However, it is also conceivable that the company itself will put forward another candidate.
According to the Sonntagszeitung, there is a plausible reason for the displeasure among shareholders. Their shares are now only worth 36,000 francs, compared to almost 300,000 francs a few years ago. This means that the entire NZZ Group is now only worth 144 million francs. However, their main concern is that the "sustainable profitability of the company is in question".
Under the intertitle "There is rumbling in the NZZ shareholder base", "Praktikus", which is a popular read among investors, publicized the tug-of-war behind the scenes in Wednesday's Finanz und Wirtschaft. Both sides are keeping quiet about who the new board candidate is. However, the concerned NZZ shareholders around Erhard Lee have given assurances that there will not be a contest. They hope that the Board of Directors will give in. However, it is also conceivable that the company itself will put forward another candidate.
According to the Sonntagszeitung, there is a plausible reason for the displeasure among shareholders. Their shares are now only worth 36,000 francs, compared to almost 300,000 francs a few years ago. This means that the entire NZZ Group is now only worth 144 million francs. However, their main concern is that the "sustainable profitability of the company is in question".
