The Slovenia Times

Attempt to overhaul Gorenje supervisory board fails

Nekategorizirano


The proposal did not receive the necessary 75% support from the shareholders present, as it was backed by only 55.2% of the shareholders.

Less than 70% of the shareholders were present at the meeting.

The proposal had been backed by the shareholders Raiffeisenbank Austria, Splitska banka, Unicredit Bank Hungary and the association of Gorenje shareholders.

The proposal sought to replace chief supervisor Marko Voljč and board member Uroš Slavinec with the authorised representative of the Dutch company, Philip Alexander Sluiter, who is a former member of the Gorenje board, and Robert Ličen.

Home Products Europe has been calling for strengthening the board with "supervisors who have top knowledge and experience in the household appliances industry".

Sluiter told the newspaper Finance last December that Gorenje needed restructuring to focus on the high end market products and become more flexible. He also thinks the company's position in some markets needed to be reassessed.

Meanwhile, Bobinac said that the overhaul was not necessary because the terms of the supervisors expired in a few months anyway.

He also said that Gorenje had been performing worse than planned in 2017, which put its end-year profit at risk. He attributed this to higher prices of material and components.

At the end of last November, the state-run fund KAD was listed as the biggest single shareholder in Gorenje with a 16% stake. It was followed by the International Finance Corporation of the World Bank with a 11.8% stake, Panasonic Corporation with 10.7%, a holder of a fiduciary account with the Polish KDPW with 7.7% and Home Products Europe with 5%.

Share:

More from Nekategorizirano