SFS shareholders approve all proposals with a large majority

News – 22 April 2021

At the 28th Annual General Meeting of SFS Group AG, the shareholders approved all proposals of the Board of Directors with a large majority and elected Manuela Suter as an additional Board member. Volker Dostmann assumed the role of CFO from Rolf Frei as of the Annual General Meeting.

In accordance with article 27 of the Swiss Federal Council’s Ordinance 3 on measures to combat the coronavirus (COVID-19 Ordinance 3), the Board of Directors of SFS Group AG instructed shareholders to exercise their voting rights at the Annual General Meeting of 22 April 2021 by issuing a power of attorney to the independent proxy in writing or electronically.

Physical shareholder presence at the Annual General Meeting was therefore not permitted, as had already been the case last year. The Annual General Meeting on 22 April 2021 was held at the headquarters of SFS Group AG in the presence of the independent proxy and a representative of the statutory auditor. A total of 31'354'594 voting shares were represented, which corresponds to 83.61% of total share capital.

All proposals with a large majority approved, Manuela Suter elected as an additional board member
Shareholders approved the management report, the annual financial statements and the consolidated annual financial statements. The proposal to elect Manuela Suter, currently CFO of Bucher Industries and a member of its Executive Board, as an additional member of SFS’s Board of Directors was approved by a large majority of shareholders. With her many years of experience at international, multi-divisional and listed industrial companies, Manuela Suter is a valuable enhancement and the Board of Directors is looking forward to working with her.

The existing members of the Board of Directors were re-elected to their former roles and the compensation for the members of the Board of Directors and the Group Executive Board was approved. Members of the Board of Directors and the Group Executive Board were granted discharge from liability for the past financial year.

Distribution to shareholders held at prior-year level
The proposed dividend of CHF 1.80 per share was approved. The amount of the dividend was thus unchanged compared to the prior-year level; last year the dividend had been reduced by 10% from the 2019 payout as a sign of solidarity with the company and its em-ployees during the first wave of the COVID-19 pandemic.

CFO succession process concluded
In the interests of early and diligent planning, the Board of Directors of the SFS Group appointed Volker Dostmann at the end of April 2020 to succeed Rolf Frei as CFO. Volker Dostmann joined the Group Executive Board on 1 November 2020 and assumed the function of CFO at the Annual General Meeting on 22 April 2021.

After handing over his duties as CFO, Rolf Frei stepped down from the Group Executive Board and will continue to support the Group on selected strategic projects until his ordinary retirement in 2023.

The Board of Directors and the Group Executive Board thank Rolf Frei for his many years of successful service and his steadfast loyalty to the company. Over the years, he has played an important role in the successful development of SFS Group through his vast expertise, his tireless efforts, his consistent focus on customer needs and his personal touch.