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Mon August 03 2020

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Shareholder seeks to boot out Sika directors

10 Dec 14 The shareholder that plans to sell a controlling stake in Sika is seeking to remove directors opposed to the puchase by Saint-Gobain.

Saint-Gobain’s proposed purchase of the controlling stake was announced on Monday.

Sika AG has received from Schenker Winkler Holding AG a request to convene an extraordinary general meeting. Schenker Winkler Holding AG - owned by the Burkard family, which founded Sika - represents more than 10% of the share capital of Sika AG and proposes to remove Dr Paul Hälg, Monika Ribar and Daniel Sauter as current members of the board and to elect Chris Tanner and Max Roesle as additional member.

Further Schenker Winkler proposes to elect Max Roesle as chairman of the board of directors and Willi Leimer as additional member of the nomination and compensation committee.

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