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DGAP-News: The Supervisory Board of CEWE Stiftung & Co. KGaA regarding not extending the contract of CEO Dr. Christian Freige | 03/17/22

DGAP-News: CEWE Stiftung & Co. KGaA / Keyword(s): Individuals

The Supervisory Board of CEWE Stiftung & Co. KGaA regarding not extending the contract of CEO Dr. Christian Freige

03/17/2022/20:15
The issuer/publisher is responsible for the content of the notification.

The Supervisory Board of CEWE Stiftung & Co. KGaA regarding not extending the contract of CEO Dr. Christian Freige

Oldenburg, March 17, 2022. Chairman of the Board of Trustees of the Neumüller CEWE COLOR Foundation, Dr. Rolf Hollander announced that the Board of Trustees, due to differing opinions on the management of the company, by majority decision, canceled the Board of Directors contract for Chairman Dr. Christian Frigg will not extend beyond December 31, 2022. As a personally responsible partner, the Neumüller CEWE COLOR Foundation manages the business of the CEWE Foundation & Co. KGaA included. The Board of Trustees decides on the composition of the Board of Directors. Dr. Freej offer ensure continuity of leadership and enable smooth delivery. No decision has been made on the successor.

Report of the Chairman of the Supervisory Board, Otto Kurti, on behalf of the Supervisory Board of CEWE Stiftung & Co. KGaA:

The supervisory board of CEWE Stiftung & Co. speaks. KGaA to Dr. Freej expresses his candid thanks: “The Supervisory Board is convinced that Dr. Freige has shaped the positive development of the company and profits in a significant way. The collaboration between the Supervisory Board and the Executive Board led by Dr. Freige has always been characterized by openness, trust and mutual respect. We would have welcomed the contract extension and would like to thank Dr. Frej for the work he has done and his commitment to enabling smooth delivery for the benefit of the company,” said Otto Kurti, Chairman of the Board of Directors of the Supervisory Board.

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The heirs of the founder of the company Heinz Neumüller, as the largest shareholder of CEWE (27.1% of the shares), also share this opinion: “Dr. Frigg can be proud of his excellent work. The company has become more valuable year after year, not least in the COVID-19 pandemic has shown that The business model is flexible, and this long-term orientation is not only in the interest of investors, employees and customers, but also corresponds to the ideas and actions of the founder of the company Heinz Neumüller. Dr. Frege we have complete confidence at all times and would have welcomed the extension of the contract, ”said the heirs.

03/17/2022 Corporate news/financial news release, posted by DGAP – a service of EQS Group AG.
The issuer/publisher is responsible for the content of the notification.

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