Valora Chairman Ammann resigns with immediate effect

 
Fritz Ammann, Chairman of the Board of Directors of Valora, the Berne-based consumer goods group, is stepping down with immediate effect. He will be succeeded on an interim basis until April 29, 2008 by Beatrice Tschanz-Kramel, who became known as Swissair's head of communications. Ammann's departure was the demand of a group of shareholders led by Adriano Agosti, who sees a greater need for reform in the company, according to the SDA release. Valora shares rose slightly following the announcement of Ammann's resignation. Valora owns the K Kiosk chain.