Rieter Approves Dividend, Remuneration Of Board

Company Performance

Rieter Approves Dividend, Remuneration Of Board

The 126th annual general meeting of Rieter Holding Ltd concluded recently with 489 shareholders who represent 64% of the share capital, participating. Bernhard Jucker was approved as the new Chairman of the Board of Directors, while Carl Illi and Luc Tack were elected new members of the Board, according to a company announcement.

In light of the good financial position of the company and the solid result for 2016 a dividend of CHF (Swiss Franc) 5 per share was approved. Shareholders also approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for the fiscal year 2018.

This E Schneider and Hans-Peter Schwald, members of the remuneration committee were also each re-elected for a one-year term of office, while Chairman of the Board of Directors, Bernhard Jucker was elected as a new member of the remuneration committee.

The Board of Directors expressed its heartfelt thanks to Erwin Stoller for his outstanding achievements in the management, as well as development of the company and for his exemplary commitment to the well-being of Rieter.

In the almost 40 years of his affiliation with the Rieter Group, he shaped and formed the company for many years and rendered great service to the Rieter Group. During this time, Stoller served in various executive positions, including as Executive Chairman from 2009 to 2013, and as Chairman of the Board of Directors since 2008.

Shareholders also adopted all other motions proposed by the Board of Directors, namely approval of the annual report, the financial statements and the consolidated financial statements for 2016, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review.