19/02/2020 | Ingredients

Hochdorf: board of directors must be recomposed

The large majority of the board of directors of Hochdorf Holding Ltd will not be available for re-election at the next annual general meeting. This is a logical consequence of the extensive changes in the company’s shareholder structure since the last annual general meeting in April 2019. The future strategic direction and any adjustments to the company’s capital structure must be determined and implemented by the major shareholders. They were asked to propose representatives of their choice for the board of directors.

The board of directors, with majority newly composed in April 2019, has made big efforts over the past ten months to stabilize the Hochdorf Group, which has fallen into difficulties. These included extensive restructuring and refinancing measures and the appointment of a new operational management team. In particular, thanks to the renewal of the syndicated loan and the sale of Pharmalys at the end of 2019, the company is now back on somewhat more solid ground and can take a prudent approach to future planning.