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Photo: AkzoNobel
Ben Noteboom
20.12.2022

Ben Noteboom to be nominated as AkzoNobel Supervisory Board member

AkzoNobel has announced that Ben Noteboom will be nominated as a member of the Supervisory Board at the Annual General Meeting being held in April 2023. The Supervisory Board intends to subsequently elect him as Chair, succeeding Nils Andersen, who will retire as Chair and member of the Supervisory Board at the same time.

Noteboom is Chairman of Vopak’s Supervisory Board and a member of the Supervisory Board of Aegon. He also chairs the Board of Trustees of the Cancer Center Amsterdam. His former roles include CEO and Chairman of the Board of Management at Randstad, while he held different management positions at Dow Chemicals for nearly nine years.

Commenting on the announcement, Byron Grote, says: “The Supervisory Board is very pleased to announce the nomination of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel.”

AkzoNobel has announced that Ben Noteboom will be nominated as a member of the Supervisory Board at the Annual General Meeting being held in April 2023. The Supervisory Board intends to subsequently elect him as Chair, succeeding Nils Andersen, who will retire as Chair and member of the Supervisory Board at the same time.

Noteboom is Chairman of Vopak’s Supervisory Board and a member of the Supervisory Board of Aegon. He also chairs the Board of Trustees of the Cancer Center Amsterdam. His former roles include CEO and Chairman of the Board of Management at Randstad, while he held different management positions at Dow Chemicals for nearly nine years.

Commenting on the announcement, Byron Grote, says: “The Supervisory Board is very pleased to announce the nomination of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel.”

Adds Ben Noteboom: “I’m excited about the opportunity to join AkzoNobel’s Supervisory Board and look forward to contributing to the next phase of the company’s transformation as it makes further progress to becoming a frontrunner in the industry.”

Source:

AkzoNobel

(c) AkzoNobel
Nils Andersen
02.12.2022

AkzoNobel’s Supervisory Board Chair Nils Andersen steps down

Nils Andersen will step down as Chair and member of the Supervisory Board of AkzoNobel to accept a new board position outside of the company.

Commenting on the announcement, Byron Grote, Deputy Chair of the Supervisory Board, said: “We congratulate Nils Andersen on his new opportunity and at the same time we deeply regret to see him go. Nils stepped into the role of Chair of the Supervisory Board during a very turbulent time. His extensive international experience in different industries and his broad business insight have helped guide AkzoNobel’s transformation into a frontrunner in the paints and coatings industry. The company’s relationship with its shareholders and other stakeholders significantly improved under his leadership.”

Nils Andersen will step down at the Annual General meeting to be held in April 2023. The Supervisory Board will announce a successor, to be nominated for appointment at the next AGM, in due course.

Nils Andersen will step down as Chair and member of the Supervisory Board of AkzoNobel to accept a new board position outside of the company.

Commenting on the announcement, Byron Grote, Deputy Chair of the Supervisory Board, said: “We congratulate Nils Andersen on his new opportunity and at the same time we deeply regret to see him go. Nils stepped into the role of Chair of the Supervisory Board during a very turbulent time. His extensive international experience in different industries and his broad business insight have helped guide AkzoNobel’s transformation into a frontrunner in the paints and coatings industry. The company’s relationship with its shareholders and other stakeholders significantly improved under his leadership.”

Nils Andersen will step down at the Annual General meeting to be held in April 2023. The Supervisory Board will announce a successor, to be nominated for appointment at the next AGM, in due course.

Source:

AkzoNobel

08.11.2022

Bjørn Gulden to become CEO of adidas AG

The Supervisory Board of adidas AG resolved upon the succession for adidas CEO Kasper Rorsted. Effective January 1, 2023, Bjørn Gulden is appointed as member of the Executive Board and CEO of adidas AG. Kasper Rorsted and the Supervisory Board mutually agreed that he will step down as CEO and leave the company upon expiry of November 11, 2022. Harm Ohlmeyer, Chief Financial Officer of adidas AG, will lead the company in the interim until December 31, 2022. The Supervisory Board had announced a CEO transition on August 22, 2022.

Bjørn Gulden is 57 years old, Norwegian and has been CEO of Puma SE since 2013. Bjørn Gulden looks back at a tenure at adidas as, amongst others, Senior Vice President of Apparel and Accessories from 1992 to 1999. Additionally, he was CEO of Danish jewelry brand Pandora, Managing Director of footwear retailer Deichmann, President of Rack Room Shoes, and held various management positions at outdoor apparel company Helly Hansen. He also holds the position of Chairman of the Board of Salling Group, Denmark’s largest food retailer.

The Supervisory Board of adidas AG resolved upon the succession for adidas CEO Kasper Rorsted. Effective January 1, 2023, Bjørn Gulden is appointed as member of the Executive Board and CEO of adidas AG. Kasper Rorsted and the Supervisory Board mutually agreed that he will step down as CEO and leave the company upon expiry of November 11, 2022. Harm Ohlmeyer, Chief Financial Officer of adidas AG, will lead the company in the interim until December 31, 2022. The Supervisory Board had announced a CEO transition on August 22, 2022.

Bjørn Gulden is 57 years old, Norwegian and has been CEO of Puma SE since 2013. Bjørn Gulden looks back at a tenure at adidas as, amongst others, Senior Vice President of Apparel and Accessories from 1992 to 1999. Additionally, he was CEO of Danish jewelry brand Pandora, Managing Director of footwear retailer Deichmann, President of Rack Room Shoes, and held various management positions at outdoor apparel company Helly Hansen. He also holds the position of Chairman of the Board of Salling Group, Denmark’s largest food retailer.

“We are very pleased to welcome Bjørn Gulden back at adidas. Bjørn Gulden brings almost 30 years of experience in the sporting goods and footwear industry. As a result, he knows the industry extremely well and draws on a rich network in sport and retail. Bjørn Gulden already served adidas successfully for seven years in the 1990s. As CEO of Puma, he re-invigorated the brand and led the company to record results. The Supervisory Board of adidas AG is convinced that Bjørn Gulden will head adidas into a new era of strength and is looking very much forward to a successful cooperation,” said Thomas Rabe, Chairman of the Supervisory Board of adidas AG. 

Source:

adidas AG

04.11.2022

Lenzing responds with savings program to earnings development

The Lenzing Group was increasingly affected by the extreme developments in global energy and raw material markets in the first three quarters of 2022, in line with the impact on the whole of manufacturing industry. The market environment deteriorated sharply, especially during the course of the third quarter, and the worsening consumer climate placed additional pressure on Lenzing’s business performance.

The Lenzing Group was increasingly affected by the extreme developments in global energy and raw material markets in the first three quarters of 2022, in line with the impact on the whole of manufacturing industry. The market environment deteriorated sharply, especially during the course of the third quarter, and the worsening consumer climate placed additional pressure on Lenzing’s business performance.

  • Revenue in the first three quarters up 24 percent – significant deterioration in market environment impacts earnings performance
  • 2022 earnings in the range of current market expectations
  • Reorganization and cost reduction program of EUR 70 mn launched
  • Supervisory Board appoints new Chief Financial Officer – Nico Reiner succeeds Thomas Obendrauf as of January 1, 2023 (see here)

Outlook
The war in Ukraine, China’s zero-Covid policy and the sharp rise in inflation have had a significant impact on the global economy. In July, the International Monetary Fund downgraded its growth expectations for the current calendar year to 3.2 percent. This deterioration in the market environment is also increasingly affecting the consumer climate as well as sentiment in industries relevant for Lenzing. As a consequence, business prospects worsened significantly in the third quarter.

The Lenzing Interim Report 01-09/2022 is available on the company website.

Source:

Lenzing AG

02.11.2022

Nico Reiner as new Chief Financial Officer of Lenzing AG

The Supervisory Board of Lenzing AG, a world-leading provider of sustainably produced specialty fibers for the textile and nonwoven industries, has appointed Nico Reiner as its new Chief Financial Officer. Mr. Reiner will join Lenzing’s Managing Board led by Chief Executive Officer Stephan Sielaff on January 1, 2023. He will succeed Chief Financial Officer Thomas Obendrauf, who is leaving the company of his own volition after seven years.

Nico Reiner has held several positions in his professional career to date, including CFO at globally operating companies such as Schüco Group, AL-KO Group and Pfleiderer Group, as well as management consultant roles. His most recent appointment was as CFO of Vacuumschmelze GmbH & Co. KG, a global player with headquarters in Hanau that specializes in the development, production and marketing of magnetic materials.

The Supervisory Board of Lenzing AG, a world-leading provider of sustainably produced specialty fibers for the textile and nonwoven industries, has appointed Nico Reiner as its new Chief Financial Officer. Mr. Reiner will join Lenzing’s Managing Board led by Chief Executive Officer Stephan Sielaff on January 1, 2023. He will succeed Chief Financial Officer Thomas Obendrauf, who is leaving the company of his own volition after seven years.

Nico Reiner has held several positions in his professional career to date, including CFO at globally operating companies such as Schüco Group, AL-KO Group and Pfleiderer Group, as well as management consultant roles. His most recent appointment was as CFO of Vacuumschmelze GmbH & Co. KG, a global player with headquarters in Hanau that specializes in the development, production and marketing of magnetic materials.

Source:

Lenzing AG

Gregoire Poux-Guillaume Photo: AkzoNobel
Gregoire Poux-Guillaume
06.09.2022

AkzoNobel: Gregoire Poux-Guillaume new member of the Board of Management

At the Extraordinary General Meeting (EGM)- September. 6 2022, the shareholders of Akzo Nobel N.V. (AkzoNobel) appointed new CEO Gregoire Poux-Guillaume as a member of the Board of Management, effective November 1, 2022.
 
Mr. Poux-Guillaume will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end. Mr. Poux-Guillaume will join AkzoNobel on October 1, to ensure a smooth transition as per November 1.
 
Nils Smedegaard Andersen, Chair of AkzoNobel’s Supervisory Board, commented: “I would like to welcome Gregoire Poux-Guillaume, who is an experienced business leader with an impressive track record of delivering results, growth and building strong teams. His experience will play a key role in helping the company to further improve its operational excellence and performance. I’d also like to thank Thierry for his time at AkzoNobel, during which AkzoNobel was transformed to become a focused and competitive paints and coatings company, with significant returns to shareholders.”
 

At the Extraordinary General Meeting (EGM)- September. 6 2022, the shareholders of Akzo Nobel N.V. (AkzoNobel) appointed new CEO Gregoire Poux-Guillaume as a member of the Board of Management, effective November 1, 2022.
 
Mr. Poux-Guillaume will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end. Mr. Poux-Guillaume will join AkzoNobel on October 1, to ensure a smooth transition as per November 1.
 
Nils Smedegaard Andersen, Chair of AkzoNobel’s Supervisory Board, commented: “I would like to welcome Gregoire Poux-Guillaume, who is an experienced business leader with an impressive track record of delivering results, growth and building strong teams. His experience will play a key role in helping the company to further improve its operational excellence and performance. I’d also like to thank Thierry for his time at AkzoNobel, during which AkzoNobel was transformed to become a focused and competitive paints and coatings company, with significant returns to shareholders.”
 
Mr. Poux-Guillaume’s previous roles include CEO of Sulzer, CEO of GE Grid Solutions (previously Alstom Grid) and Senior Managing Director of CVC Capital Partners.

More information:
Poux-Guillaume AkzoNobel
Source:

AkzoNobel

Kasper Rorsted, CEO adidas AG Photo: adidas AG
Kasper Rorsted, CEO adidas AG
22.08.2022

adidas AG initiates CEO transition

  • Kasper Rorsted will hand over CEO position during the course of 2023

adidas AG’s Supervisory Board announces today that it has initiated a CEO transition. Kasper Rorsted, CEO of adidas, and the Supervisory Board have mutually agreed upon that Kasper Rorsted will hand over the CEO position during the course of 2023. The search for a succession has started. Kasper Rorsted will remain CEO until a successor has been appointed. Jointly with the Supervisory Board and the Management Board he will ensure a smooth transition at the helm of the company.

  • Kasper Rorsted will hand over CEO position during the course of 2023

adidas AG’s Supervisory Board announces today that it has initiated a CEO transition. Kasper Rorsted, CEO of adidas, and the Supervisory Board have mutually agreed upon that Kasper Rorsted will hand over the CEO position during the course of 2023. The search for a succession has started. Kasper Rorsted will remain CEO until a successor has been appointed. Jointly with the Supervisory Board and the Management Board he will ensure a smooth transition at the helm of the company.

More information:
adidas AG
Source:

adidas AG

22.06.2022

Lenzing AG revises its dividend policy

Minimum dividend of EUR 4.50 per share as of the 2023 financial year

Having concluded its strategy update, the Managing Board of Lenzing AG decided to revise its dividend policy today. This demonstrates Lenzing’s confidence in its ambitious growth plans and its ability to consistently providing attractive dividends to shareholders.

As of the 2023 financial year (with payment scheduled for 2024), Lenzing plans to pay an annual dividend of at least EUR 4.50 per share (adjusted for inflation for the years thereafter). The revised dividend policy is subject to the approval of the Supervisory Board.

The payment of the dividend in any year will be subject to the specific dividend proposals of the Managing Board and the Supervisory Board. These proposals may deviate from the new dividend policy if appropriate under the then prevailing circumstances and will be subject to the approval of the Annual General Meeting.

Minimum dividend of EUR 4.50 per share as of the 2023 financial year

Having concluded its strategy update, the Managing Board of Lenzing AG decided to revise its dividend policy today. This demonstrates Lenzing’s confidence in its ambitious growth plans and its ability to consistently providing attractive dividends to shareholders.

As of the 2023 financial year (with payment scheduled for 2024), Lenzing plans to pay an annual dividend of at least EUR 4.50 per share (adjusted for inflation for the years thereafter). The revised dividend policy is subject to the approval of the Supervisory Board.

The payment of the dividend in any year will be subject to the specific dividend proposals of the Managing Board and the Supervisory Board. These proposals may deviate from the new dividend policy if appropriate under the then prevailing circumstances and will be subject to the approval of the Annual General Meeting.

More information:
dividend Lenzing AG
Source:

Lenzing AG

04.05.2022

Lenzing rides out significant cost pressure to report solid first quarter

Lenzing – In the first quarter of 2022, the Lenzing Group, like the entire manufacturing industry, was significantly affected by the extreme developments in global energy and commodity markets. A predominantly positive market environment and the strategic focus on specialty fibers such as those of the TENCEL™, LENZING™ ECOVERO™ and VEOCEL™ brands nevertheless ensured a solid revenue and earnings trend, with the effect of higher costs being largely offset.

•    Solid revenue and earnings performance despite extremely tight cost situation
•    Personnel changes on the Managing and Supervisory Boards – Stephan Sielaff appointed as the new CEO
•    Successful production start at world’s largest lyocell plant in Thailand
•    World’s largest pulp mill of its kind successfully started-up in Brazil
•    Premium textile brand TENCEL™ celebrates 30 years of sustainable fiber innovation

The Lenzing Interim Report 01-03/2022 is available on the company website.

Lenzing – In the first quarter of 2022, the Lenzing Group, like the entire manufacturing industry, was significantly affected by the extreme developments in global energy and commodity markets. A predominantly positive market environment and the strategic focus on specialty fibers such as those of the TENCEL™, LENZING™ ECOVERO™ and VEOCEL™ brands nevertheless ensured a solid revenue and earnings trend, with the effect of higher costs being largely offset.

•    Solid revenue and earnings performance despite extremely tight cost situation
•    Personnel changes on the Managing and Supervisory Boards – Stephan Sielaff appointed as the new CEO
•    Successful production start at world’s largest lyocell plant in Thailand
•    World’s largest pulp mill of its kind successfully started-up in Brazil
•    Premium textile brand TENCEL™ celebrates 30 years of sustainable fiber innovation

The Lenzing Interim Report 01-03/2022 is available on the company website.

Source:

Lenzing AG

26.04.2022

Lenzing Annual General Meeting approves all agenda items

  • Dividend of EUR 4.35 per share approved
  • Lenzing Supervisory Board reduced from ten to nine elected members
  • Dipl.-Bw. Peter Edelmann steps down from the Supervisory Board at his request
  • Cord Prinzhorn, MBA, elected Chairman of the Supervisory Board

The 78th Annual General Meeting of Lenzing AG on April 26, 2022, passed a resolution to pay a dividend of EUR 4.35 per share in accordance with the Managing Board’s profit distribution proposal, which had been approved by the Supervisory Board. As a consequence, the payment of the dividend amounts to a total of EUR 115,492,500. The payment will be made on May 03, 2022.

  • Dividend of EUR 4.35 per share approved
  • Lenzing Supervisory Board reduced from ten to nine elected members
  • Dipl.-Bw. Peter Edelmann steps down from the Supervisory Board at his request
  • Cord Prinzhorn, MBA, elected Chairman of the Supervisory Board

The 78th Annual General Meeting of Lenzing AG on April 26, 2022, passed a resolution to pay a dividend of EUR 4.35 per share in accordance with the Managing Board’s profit distribution proposal, which had been approved by the Supervisory Board. As a consequence, the payment of the dividend amounts to a total of EUR 115,492,500. The payment will be made on May 03, 2022.

The Annual General Meeting formally discharged the members of the Managing Board and the Supervisory Board from liability for the 2021 financial year, and set in advance the remuneration for the members of the Supervisory Board for the 2022 financial year. In addition, a vote was hold concerning the principles for the remuneration of the members of the Managing Board and the Supervisory Board (remuneration policy). The remuneration policy of Lenzing AG for the performance-based remuneration of the Managing Board is linked not only to financial performance criteria but also to non-financial sustainability criteria (ESG), which further promote the sustainable business strategy.

Elections to the Supervisory Board
Dipl.-Bw. Peter Edelmann stepped down from the Supervisory Board upon his own request, at the end of the Annual General Meeting. Mr. Edelmann has served as a member of the Supervisory Board since 2018 and as its Chairman since 2019, as well as on all committees of Lenzing AG.

The Annual General Meeting passed a resolution to extend the Supervisory Board mandates of Mag. Patrick Prügger (until the AGM that passes related resolutions concerning the 2022 financial year) and of Dr. Astrid Skala-Kuhmann (until the AGM that passes related resolutions concerning the 2025 financial year).

The Supervisory Board of Lenzing AG now consists of nine members elected by the AGM: Mag. Helmut Bernkopf, Dr. Christian Bruch, Dr. Stefan Fida, Dr. Markus Fürst, Dr. Franz Gasselsberger, Melody Harris-Jensbach, Cord Prinzhorn, MBA, Mag. Patrick Prügger and Dr. Astrid Skala-Kuhmann. Herbert Brauneis, Ing. Daniela Födinger, Helmut Kirchmair, Georg Liftinger und Johann Schernberger were appointed to the Supervisory Board by the Works Council.

At the constitutive Supervisory Board meeting following the AGM, Cord Prinzhorn, MBA, who had returned to the Supervisory Board after serving as CEO on an interim basis, was elected Chairman, and Dr. Stefan Fida was elected Deputy Chairman of the Supervisory Board.

Source:

Lenzing AG

22.04.2022

AkzoNobel shareholders approve final dividend at Annual General Meeting

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

More information:
AkzoNobel general meeting
Source:

AkzoNobel

Georg Wendelin Foto: privat
Georg Wendelin
05.04.2022

EREMA mourns the passing of company co-founder Georg Wendelin

The EREMA Group mourns the passing of Georg Wendelin, company co-founder, former Managing Partner and long-time Chairman of the Supervisory Board of EREMA Group GmbH, who died on the 29th of March at the age of 84.

In 1983, at a time when plastics recycling was hardly an issue, Georg Wendelin, together with Helmut Bacher and Helmuth Schulz, laid the corner stone for the group of companies that today is a world market leader by founding the company and building the first EREMA plastics recycling machine. With pioneering spirit, a business acumen and his respectful and appreciative management style, Georg Wendelin actively shaped the success of the company, attentively and proudly keeping track of how plastics recycling went from being a niche to a trend and how the EREMA Group became a driving force behind the circular economy. In 2019, he was awarded the Golden Decoration of the Republic of Austria in recognition of his work.

The EREMA Group mourns the passing of Georg Wendelin, company co-founder, former Managing Partner and long-time Chairman of the Supervisory Board of EREMA Group GmbH, who died on the 29th of March at the age of 84.

In 1983, at a time when plastics recycling was hardly an issue, Georg Wendelin, together with Helmut Bacher and Helmuth Schulz, laid the corner stone for the group of companies that today is a world market leader by founding the company and building the first EREMA plastics recycling machine. With pioneering spirit, a business acumen and his respectful and appreciative management style, Georg Wendelin actively shaped the success of the company, attentively and proudly keeping track of how plastics recycling went from being a niche to a trend and how the EREMA Group became a driving force behind the circular economy. In 2019, he was awarded the Golden Decoration of the Republic of Austria in recognition of his work.

"We will greatly miss Georg Wendelin as a personality who was closely associated with us for all these years. Because of his humanity, he was a highly respected figure of leadership on all sides," said Manfred Hackl, CEO of EREMA Group GmbH and himself a long-time companion of Wendelin's.

More information:
EREMA Georg Wendelin
Source:

EREMA Group GmbH

Stephan Sielaff appointed as new CEO of Lenzing AG – changes in the Managing Board and the Supervisory Board
Stephan Sielaff
14.03.2022

Stephan Sielaff appointed as new CEO of Lenzing AG – changes in the Managing Board and the Supervisory Board

  • Stephan Sielaff replaces interim CEO Cord Prinzhorn
  • CFO Thomas Obendrauf will not extend his contract
  • Chairman of the Supervisory Board Peter Edelmann will no longer be available as Chairman at the end of the Annual Shareholders’ Meeting
  • Cord Prinzhorn returns to Supervisory Board and will take over as Chairman

Lenzing – The Supervisory Board of Lenzing AG, the world’s leading manufacturer of wood-based cellulosic fibers, has appointed Stephan Sielaff, the former CTO/COO of Lenzing AG, as the new CEO effective April 01, 2022. He succeeds Cord Prinzhorn, who took over as interim CEO in the fourth quarter of 2021. Cord Prinzhorn will return to the Supervisory Board of Lenzing AG. The Managing Board will thus be reduced again from five to four members.

  • Stephan Sielaff replaces interim CEO Cord Prinzhorn
  • CFO Thomas Obendrauf will not extend his contract
  • Chairman of the Supervisory Board Peter Edelmann will no longer be available as Chairman at the end of the Annual Shareholders’ Meeting
  • Cord Prinzhorn returns to Supervisory Board and will take over as Chairman

Lenzing – The Supervisory Board of Lenzing AG, the world’s leading manufacturer of wood-based cellulosic fibers, has appointed Stephan Sielaff, the former CTO/COO of Lenzing AG, as the new CEO effective April 01, 2022. He succeeds Cord Prinzhorn, who took over as interim CEO in the fourth quarter of 2021. Cord Prinzhorn will return to the Supervisory Board of Lenzing AG. The Managing Board will thus be reduced again from five to four members.

More information:
Lenzing AG Stephan Sielaff
Source:

Lenzing Aktiengesellschaft

Stephan Sielaff Photo: Lenzing. Stephan Sielaff appointed as new CEO of Lenzing AG
09.03.2022

Stephan Sielaff appointed as new CEO of Lenzing AG

  • Stephan Sielaff replaces interim CEO Cord Prinzhorn

  • CFO Thomas Obendrauf will not extend his contract

  • Chairman of the Supervisory Board Peter Edelmann will no longer be available as Chairman at the end of the Annual Shareholders’ Meeting

  • Cord Prinzhorn returns to Supervisory Board and will take over as Chairman

The Supervisory Board of Lenzing AG has appointed Stephan Sielaff, the former CTO/COO of Lenzing AG, as the new CEO effective April 01, 2022. He succeeds Cord Prinzhorn, who took over as interim CEO in the fourth quarter of 2021. Cord Prinzhorn will return to the Supervisory Board of Lenzing AG. The Managing Board will thus be reduced again from five to four members.

  • Stephan Sielaff replaces interim CEO Cord Prinzhorn

  • CFO Thomas Obendrauf will not extend his contract

  • Chairman of the Supervisory Board Peter Edelmann will no longer be available as Chairman at the end of the Annual Shareholders’ Meeting

  • Cord Prinzhorn returns to Supervisory Board and will take over as Chairman

The Supervisory Board of Lenzing AG has appointed Stephan Sielaff, the former CTO/COO of Lenzing AG, as the new CEO effective April 01, 2022. He succeeds Cord Prinzhorn, who took over as interim CEO in the fourth quarter of 2021. Cord Prinzhorn will return to the Supervisory Board of Lenzing AG. The Managing Board will thus be reduced again from five to four members.

Stephan Sielaff holds a degree in chemical engineering and held various management positions at Unilever and Symrise from 1993 to 2014. Between 2014 and 2020, he was responsible for the strategic development of the company as a Member of the Board of Directors (COO) at the Swiss specialty chemicals company Archroma – an important supplier of the textile and paper industry. He was appointed Chief Technology Officer and COO of Lenzing AG as of March 01, 2020.

CFO Thomas Obendrauf has informed the Supervisory Board that he will not be available for a further extension of his contract, which expires in June 2022. The Supervisory Board of Lenzing AG is already working on a timely replacement. Mr. Obendrauf will be available to the company in an advisory capacity until a successor is appointed.

Peter Edelmann will leave the Supervisory Board upon his own request, effective April 26, 2022. Cord Prinzhorn will return to the Supervisory Board and will take over as Chairman.

09.03.2022

adidas delivers strong results in 2021

  • adidas expects double-digit sales growth in 2022

Major developments FY 2021

•    Currency-neutral revenues up 16% driven by growth in all markets
•    Excellent top-line momentum in EMEA, North America and Latin America with strong double-digit increases in each region
•    Double-digit growth in DTC reflecting improvements in both online and offline
•    Gross margin increases to 50.7% driven by higher full-price sales and better inventory management  
•    Operating margin increases 5.3 percentage points to 9.4%  
•    Net income from continuing operations grows more than € 1 billion to € 1.492 billion
•    Executive and Supervisory Boards propose dividend increase of 10% to € 3.30 per share

Outlook for FY 2022

  • adidas expects double-digit sales growth in 2022

Major developments FY 2021

•    Currency-neutral revenues up 16% driven by growth in all markets
•    Excellent top-line momentum in EMEA, North America and Latin America with strong double-digit increases in each region
•    Double-digit growth in DTC reflecting improvements in both online and offline
•    Gross margin increases to 50.7% driven by higher full-price sales and better inventory management  
•    Operating margin increases 5.3 percentage points to 9.4%  
•    Net income from continuing operations grows more than € 1 billion to € 1.492 billion
•    Executive and Supervisory Boards propose dividend increase of 10% to € 3.30 per share

Outlook for FY 2022

•    Currency-neutral sales to increase at a rate between 11% and 13%, already reflecting up to € 250 million of risk in Russia/CIS business related to the war in Ukraine
•    Gross margin to increase to a level of between 51.5% and 52.0%
•    Operating margin to increase to a level of between 10.5% and 11.0%
•    Net income from continuing operations to grow to between € 1.8 billion and € 1.9 billion

Kasper Rorsted, CEO of adidas: “Unfortunately, we release our 2021 results in unsettling times. Our thoughts and prayers are with the Ukrainian people, our teams on the ground and everyone affected by the war. We strongly condemn any form of violence and stand in solidarity with all those calling for peace. We also provide immediate humanitarian aid to those in need of support. We will continue to follow the situation closely and take future business decisions and actions as needed, always prioritizing our employee’s safety and support.”

“In 2021, we delivered a strong set of results despite several external factors weighing on both demand and supply throughout the year”, Kasper Rorsted continued. “Wherever markets operated without major disruptions we have been experiencing strong top-line momentum. This is reflected in double-digit revenue growth in EMEA, North America and Latin America. While we continued to invest heavily into our brand, our direct-to-consumer business, and our digital transformation, we improved our bottom-line by more than € 1 billion. Taking it all together, 2021 was a successful first year within our new strategic cycle. In 2022, we will build on this momentum and continue to grow both our top- and bottom-line at double-digit rates amid heightened uncertainty.”

More information:
adidas Financial Year 2021
Source:

adidas Media Relations

(c) adidas AG
Roland Auschel, Executive Board member, responsible for Global Sales
22.02.2022

adidas Supervisory Board extends appointments of Roland Auschel and Brian Grevy

The Supervisory Board of adidas AG extended the appointment of Executive Board member Roland Auschel, responsible for Global Sales, by two years beyond 2022 until the end of 2024. Roland Auschel has been member of the Executive Board of adidas AG since 2013. At the same time, the Supervisory Board of adidas AG extended the appointment of Executive Board member Brian Grevy, responsible for Global Brands, by five years beyond 2022 until early 2028. Brian Grevy has been member of the Executive Board of adidas AG since 2020.

“On behalf of the Supervisory Board, I am very pleased to announce that we have extended the appointments of both Roland and Brian. Our long-term strategy ‘Own the Game’ has the consumer at its heart. Both Roland and Brian play key roles in bringing this consumer focus to life with their respective functions. We are convinced that they will continue the successful execution of our strategy together with the entire Executive Board”, stated Thomas Rabe, Chairman of the Supervisory Board of adidas AG.

The Supervisory Board of adidas AG extended the appointment of Executive Board member Roland Auschel, responsible for Global Sales, by two years beyond 2022 until the end of 2024. Roland Auschel has been member of the Executive Board of adidas AG since 2013. At the same time, the Supervisory Board of adidas AG extended the appointment of Executive Board member Brian Grevy, responsible for Global Brands, by five years beyond 2022 until early 2028. Brian Grevy has been member of the Executive Board of adidas AG since 2020.

“On behalf of the Supervisory Board, I am very pleased to announce that we have extended the appointments of both Roland and Brian. Our long-term strategy ‘Own the Game’ has the consumer at its heart. Both Roland and Brian play key roles in bringing this consumer focus to life with their respective functions. We are convinced that they will continue the successful execution of our strategy together with the entire Executive Board”, stated Thomas Rabe, Chairman of the Supervisory Board of adidas AG.

16.12.2021

adidas to initiate € 4 billion share buyback program until 2025

With the approval of the Supervisory Board, the Executive Board of adidas has decided to launch a multi-year share buyback program. Starting in January 2022, the company plans to buy back shares in an amount of up to € 4 billion until 2025. Taking into consideration the € 1 billion share buyback completed in 2021 already, the company intends to return up to € 5 billion to its shareholders through regular share buybacks alone during the five-year strategic cycle. The buyback activities are complemented by the company’s annual dividend payouts in a range of between 30% and 50% of net income from continuing operations.

Strong shareholder returns are a key component of adidas’ new strategy ‘Own the Game’. As part of ‘Own the Game’, adidas plans to generate substantial free cash flow until 2025 and return the majority of it – between € 8 and 9 billion – to its shareholders via dividend payments and share buybacks. In addition, the company plans to return the majority of the cash proceeds from the Reebok divestiture to the shareholders after closing of the transaction, which is expected in the first quarter of 2022.

With the approval of the Supervisory Board, the Executive Board of adidas has decided to launch a multi-year share buyback program. Starting in January 2022, the company plans to buy back shares in an amount of up to € 4 billion until 2025. Taking into consideration the € 1 billion share buyback completed in 2021 already, the company intends to return up to € 5 billion to its shareholders through regular share buybacks alone during the five-year strategic cycle. The buyback activities are complemented by the company’s annual dividend payouts in a range of between 30% and 50% of net income from continuing operations.

Strong shareholder returns are a key component of adidas’ new strategy ‘Own the Game’. As part of ‘Own the Game’, adidas plans to generate substantial free cash flow until 2025 and return the majority of it – between € 8 and 9 billion – to its shareholders via dividend payments and share buybacks. In addition, the company plans to return the majority of the cash proceeds from the Reebok divestiture to the shareholders after closing of the transaction, which is expected in the first quarter of 2022.

“Over the next couple of years, our business will become significantly more cash generative than ever before”, said Harm Ohlmeyer, CFO of adidas. “And we will hit the road running in 2022: Driven by strong top- and bottom-line improvements, we will once again generate a high free cash flow, which we will almost entirely return to our shareholders next year.”

As with previous share buybacks, adidas intends to cancel most of the shares repurchased during the program, which would reduce the number of shares as well as the share capital accordingly.

More information:
adidas
Source:

adidas AG

30.11.2021

Lenzing Managing Board proposes dividend of EUR 4.35

The Managing Board of Lenzing AG, a leading manufacturer of specialty fibers made from the renewable raw material wood, has resolved to propose to the Annual General Meeting a dividend of EUR 4.35 for the 2021 financial year. This dividend proposal reflects the suspended dividends from 2019 and 2020.

The total dividend payout to shareholders will amount to about EUR 115,492,500, subject to the acceptance of the proposal by the Supervisory Board at its meeting scheduled for March 09, 2022 for the purpose of approving the consolidated financial statements as well as the approval granted by Lenzing AG shareholders at the Annual General Meeting on April 26, 2022.

The Annual Report of the Lenzing AG for the 2021 financial year will be published on March 10, 2022.

The Managing Board of Lenzing AG, a leading manufacturer of specialty fibers made from the renewable raw material wood, has resolved to propose to the Annual General Meeting a dividend of EUR 4.35 for the 2021 financial year. This dividend proposal reflects the suspended dividends from 2019 and 2020.

The total dividend payout to shareholders will amount to about EUR 115,492,500, subject to the acceptance of the proposal by the Supervisory Board at its meeting scheduled for March 09, 2022 for the purpose of approving the consolidated financial statements as well as the approval granted by Lenzing AG shareholders at the Annual General Meeting on April 26, 2022.

The Annual Report of the Lenzing AG for the 2021 financial year will be published on March 10, 2022.

More information:
Lenzing AG dividend
Source:

Lenzing AG

Elke Katz (c) CHT
Elke Katz
05.11.2021

Elke Katz joins the board of the Beitlich Family Foundation

The Beitlich Family Foundation, owner of the CHT Group, has appointed Elke Katz as an additional member of the Foundation's Board of Directors, which includes the function of Supervisory Board, on 1 September 2021. Elke Katz is currently CEO of ratioform Verpackungen GmbH, a company of the Haniel Group, based in Munich.

She has extensive, cross-industry experience in strategic and operational corporate management at companies such as BMW and Telefonica. She holds a degree in business engineering and has extensive know-how in customer experience management, digital business and business development.

Johan de Ruiter, Chairman of the Board of the Beitlich Family Foundation: "We aligned ourselves with the UN's 17 Sustainable Development Goals several years ago and defined sustainability, digitalisation and diversity as important strategic components for the CHT Group. We are therefore delighted to have gained a proven digitisation expert for our board. We are certain that Elke Katz will give us further impetus on this path so that we continue to be a leading, modern and innovative company.”

The Beitlich Family Foundation, owner of the CHT Group, has appointed Elke Katz as an additional member of the Foundation's Board of Directors, which includes the function of Supervisory Board, on 1 September 2021. Elke Katz is currently CEO of ratioform Verpackungen GmbH, a company of the Haniel Group, based in Munich.

She has extensive, cross-industry experience in strategic and operational corporate management at companies such as BMW and Telefonica. She holds a degree in business engineering and has extensive know-how in customer experience management, digital business and business development.

Johan de Ruiter, Chairman of the Board of the Beitlich Family Foundation: "We aligned ourselves with the UN's 17 Sustainable Development Goals several years ago and defined sustainability, digitalisation and diversity as important strategic components for the CHT Group. We are therefore delighted to have gained a proven digitisation expert for our board. We are certain that Elke Katz will give us further impetus on this path so that we continue to be a leading, modern and innovative company.”

The Beitlich Family Foundation consists of 5 members, in addition to Elke Katz and Johan de Ruiter, Prof. Dr.-Ing. Götz Gresser (Vice Chairman), Dr. Antje von Dewitz and Prof. Dr. Klaus Müller.

More information:
CHT Group Beitlich
Source:

CHT Germany GmbH

04.11.2021

adidas awarded high ESG rating by S&P for sustainability performance

Following a thorough assessment by rating agency S&P adidas’ sustainability performance has received an outstanding evaluation. Assessed across Environmental, Social and Governance (ESG) dimensions, adidas was awarded with an ESG Profile Score of 79 out of 100. Combined with a strong Preparedness Score (+6), the company’s overall ESG Evaluation Score amounts to 85, placing adidas sixth in the entire S&P Global Rating Universe.

In its assessment, S&P emphasizes adidas’ industry-leading approach to innovation, supply chain management and consumer engagement. In particular, credit is given to adidas’ ambitions to scale the use of sustainable materials, to expand circular services and to deliver against ambitious net-zero emission targets. In addition to adidas’ strong control mechanisms over its supply chain ensuring fair and safe labor practices, the analysis also calls out the integration of a sustainability target into the compensation system of the Executive Board. The close interaction between the Supervisory Board and the Executive Board is seen as exemplary and supportive of the overall strategy execution.

Following a thorough assessment by rating agency S&P adidas’ sustainability performance has received an outstanding evaluation. Assessed across Environmental, Social and Governance (ESG) dimensions, adidas was awarded with an ESG Profile Score of 79 out of 100. Combined with a strong Preparedness Score (+6), the company’s overall ESG Evaluation Score amounts to 85, placing adidas sixth in the entire S&P Global Rating Universe.

In its assessment, S&P emphasizes adidas’ industry-leading approach to innovation, supply chain management and consumer engagement. In particular, credit is given to adidas’ ambitions to scale the use of sustainable materials, to expand circular services and to deliver against ambitious net-zero emission targets. In addition to adidas’ strong control mechanisms over its supply chain ensuring fair and safe labor practices, the analysis also calls out the integration of a sustainability target into the compensation system of the Executive Board. The close interaction between the Supervisory Board and the Executive Board is seen as exemplary and supportive of the overall strategy execution.

More information:
adidas Sustainability S&P
Source:

adidas AG