Affichage Group: Reorganization of the management structure
Affichage's Board of Directors has decided to reorganize the Group's management structure. The Board of Directors will now consist of five members instead of ten. In addition, the CEO's succession will be finalized by the end of 2010.
At its meeting on 14 April 2010, the Board of Directors of Affichage Holding SA took the decision to reorganize the Group's management structure, as the company announced on Thursday. The Board of Directors now consists of five instead of ten members. The succession of the CEO will also be regulated until the end of 2010. These measures will strengthen the Group's effectiveness in view of the current challenges.
At the forthcoming Annual General Meeting on May 26, 2010, the Board of Directors will therefore propose to shareholders that the company's Articles of Association be amended to reduce the number of members of the Board of Directors from the current maximum of ten to a new maximum of five. In future, the Board of Directors will consist of Paul-Henry Binz, Jean-François Decaux, Klaus Hug, Gilles Samyn and Markus Scheidegger. The main shareholders will thus assume greater responsibility. Georges Gagnebin, Gérard Degonse, Christian Kauter and Jean-Claude Marchand are resigning their mandates. In addition, Carlo Schmid-Sutter's term of office as a member of the Board of Directors is coming to an end. He will not stand for re-election at the Annual General Meeting on May 26, 2010. Jean-François Decaux is to become Chairman of the Board of Directors, while Paul-Henry Binz will continue to serve as Vice Chairman. As soon as his successor has been appointed and confirmed by the Board of Directors, Christian Kauter will step down as CEO as planned. This change of personnel should take place by the end of 2010 at the latest.
According to the press release, the Board of Directors is of the opinion that the reorganization of the Group's management structure will give it the necessary flexibility to hold its own in the current difficult economic environment and that it will also facilitate the upcoming strategic decisions at Group level. This will provide the necessary dynamism in an advertising market that is undergoing radical change.
At the forthcoming Annual General Meeting on May 26, 2010, the Board of Directors will therefore propose to shareholders that the company's Articles of Association be amended to reduce the number of members of the Board of Directors from the current maximum of ten to a new maximum of five. In future, the Board of Directors will consist of Paul-Henry Binz, Jean-François Decaux, Klaus Hug, Gilles Samyn and Markus Scheidegger. The main shareholders will thus assume greater responsibility. Georges Gagnebin, Gérard Degonse, Christian Kauter and Jean-Claude Marchand are resigning their mandates. In addition, Carlo Schmid-Sutter's term of office as a member of the Board of Directors is coming to an end. He will not stand for re-election at the Annual General Meeting on May 26, 2010. Jean-François Decaux is to become Chairman of the Board of Directors, while Paul-Henry Binz will continue to serve as Vice Chairman. As soon as his successor has been appointed and confirmed by the Board of Directors, Christian Kauter will step down as CEO as planned. This change of personnel should take place by the end of 2010 at the latest.
According to the press release, the Board of Directors is of the opinion that the reorganization of the Group's management structure will give it the necessary flexibility to hold its own in the current difficult economic environment and that it will also facilitate the upcoming strategic decisions at Group level. This will provide the necessary dynamism in an advertising market that is undergoing radical change.
