The Annual General Meeting of Valora Holding AG approves all proposals by the Board of Directors

31.03.2021 / 12:00 / Shareholder

Media release

The Annual General Meeting of Valora Holding AG approves all proposals by the Board of Directors

  • 2,472,613 registered shares or 56.3% of share capital represented at today's Annual General Meeting of Valora Holding AG. 
  • Approval of the dividend waiver which was proposed again due to the ongoing COVID-19 crisis.
  • Confirmation of the six directors standing for re-election and of the Chairman of the Board of Directors, plus the election of Felix Stinson as a new member of the Board of Directors.
  • Approval of all other proposals by the Board of Directors.

The Annual General Meeting of Valora Holding AG, chaired by Franz Julen, Chairman of the Board of Directors, took place in Basel today. The attendance in person of shareholders was not possible due to the COVID-19 pandemic. Shareholders were able to exercise their rights exclusively via the independent proxy. It represented the votes of 2,472,613 registered shares of Valora Holding AG at the Annual General Meeting, corresponding to 56.3% of the share capital. 

 

The Annual General Meeting agreed to a waiver of the dividend for the 2020 financial year as well and therefore to carry forward the 2020 net profit to the new financial year in view of the ongoing COVID-19 crisis. The shareholders thus support the prudent approach to the company’s financial resources in the interests of Valora and all its stakeholders.

 

All members of the Board of Directors standing for re-election were confirmed in their office: Franz Julen, Markus Bernhard, Insa Klasing, Michael Kliger, Dr Karin Schwab and Sascha Zahnd. Moreover, Franz Julen was re-elected as the Chairman of the Board of Directors. Dr Suzanne Thoma did not stand again for re-election to the Board of Directors. Felix Stinson was elected in her place as a new member of the Board of Directors. Felix Stinson will represent Ernst Peter Ditsch, Valora anchor shareholder, on the Valora Board of Directors and add his expertise in finance and investment to the committee. Sascha Zahnd, Vice-Chairman of the Board of Directors, will join the Nomination and Compensation Committee in addition to the current members Insa Klasing and Michael Kliger.

 

Moreover, the Annual General Meeting approved all the other proposals by the Board of Directors. It thus also approved the 2020 Remuneration Report in a consultative vote and approved the future total maximum remuneration for the Board of Directors and Group Executive Management in a binding vote.

 

More information on the 2021 Annual General Meeting of Valora Holding AG can be accessed via the following link.

 

 

 

Curriculum vitae of the new member of the Board of Directors of Valora Holding AG

 

Felix Stinson

Felix Stinson has been in charge of investment management at Ditsch Family Office in Mainz and Zurich since 2017. Before that, the 35-year-old German-American citizen spent over two years at the German branch of BNP Paribas S.A., where he held various positions including portfolio manager for leveraged finance transactions. He was a quantitative analyst in investment banking at Deutsche Bank AG in New York and Frankfurt from 2010 to 2014. During his studies, he also worked at BASF SE/ BASF IT Services GmbH in Germany and the United Kingdom and then at IBM Deutschland GmbH. Felix Stinson holds a Master of Science in Finance and Investment from Rotterdam School of Management, Erasmus University. He also completed a Bachelor's in Mathematics at the Technical University of Darmstadt and a diploma in business informatics at Baden-Wuerttemberg Cooperative State University in Mannheim. Felix Stinson is a member of the United Chocolate GmbH Advisory Board. He will represent Ernst Peter Ditsch, anchor shareholder of Valora, on the Valora Board of Directors and add his expertise in finance and investment to the committee.