gategroup publishes invitation to its Annual General Meeting 2016

In connection with the invitation to the Annual General Meeting the Board of Directors of gategroup announces the following:

All current members and the Chairman of the Board of Directors of gategroup proposed for re-election

In response to a proposal by its Nominations and Compensations Committee, the Board of Directors of gategroup Holding AG has decided to propose to the company’s General Meeting of Shareholders on April 14, 2016 that it re-elect all current members of the Board and the Chairman. The differences between the Board of Directors and Gerard van Kesteren regarding the implementation of corporate strategy have been resolved through intensive and constructive dialog. Andreas Schmid, Chairman of the Board of Directors says: “I and the other members of the Board of Directors are very pleased with the understanding we have reached. We value Gerard van Kesteren’s great expertise and welcome the fact that he will continue to play his constructively critical role as a fully accepted and integrated Board member. At this important phase of the strategy implementation, this is also a clear sign of the value of continuity with regard to the strategic and operational management of the company.” Gerard van Kesteren comments: “I am pleased by the way the Board of Directors has worked in a difficult situation to find a solution that furthers the interests of the company. To ensure gategroup's ongoing profitable growth the group now needs an aligned leadership and to be able to work without distraction. In this spirit I want to contribute to achieving this goal by fully supporting the Board, its Chairman and the strategy which the Board and the management have jointly worked out”.

Further, Andreas Schmid, Chairman of the Board of Directors, has informed the Board that he intends to step down as Chairman and member of the Board at the 2017 AGM after 10 years of service on the Board of Directors. The Board has acknowledged this decision with regret, and will initiate the succession in due course.

Contact

communications@gategroup.com
 

About gategroup

gategroup is the leading independent global provider of products, services and solutions related to a passenger’s onboard experience. For further information: www.gategroup.com

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