DGAP-News: Aareal Bank rejects demand by Petrus for replacement of Supervisory Board members
The Supervisory Board of Aareal Bank AG rejects the demand by Petrus Advisers Ltd ("Petrus") for a partial replacement of Supervisory Board members, since this demand is without any substance.
- The Supervisory Board of Aareal Bank AG rejects the demand by Petrus Advisers Ltd ("Petrus") for a partial replacement of Supervisory Board members, since this demand is without any substance.
- Petrus has explicitly called for the resignation of three current Supervisory Board members, in order to make room for three replacement candidates proposed by Petrus, to be elected at the upcoming Ordinary Annual General Meeting on 18 May.
- This corporate governance sounding led to shortened terms of office of Supervisory Board members, the introduction of a so-called staggered board, as well as new appointments to the Supervisory Board (in the sense of a Board refreshment).
- This also applies to the Supervisory Board members whom Petrus has now called upon to resign - who were only elected last year.