German optics firm Fielmann AG (FLMNF.PK) Monday said its founder, principal shareholder and Chief Executive Officer Guenther Fielmann would transfer 24.52 per cent of the shares in the company to the Fielmann Family Foundation, as part of his succession plans.
As a result, the Fielmann Foundation will receive a 51 percent stake in the company. Guenther Fielmann is also founder and sole member of the Management Board of the Fielmann Family Foundation.
Through this move, the Fielmann family will have permanent decisive influence and management responsibility over the company.
The Fielmann Family Foundation will be the main shareholder in a family holding company in which the majority of the Fielmann AG shares will be combined. The family holding company will hold 55 percent of the Fielmann AG shares in future.
Guenther Fielmann’s children Marc Fielmann and Sophie Luise Fielmann will hold stakes in the family holding. Guenther Fielmann has transferred shares in Fielmann AG and the Fielmann Family Foundation to them.
With 92.50 percent of the votes, the Fielmann Family Foundation will obtain the decisive influence over this family holding company.
This move will not change the total shareholding attributable to the Fielmann family or the shares attributable to Guenther Fielmann.
The management structure will remain focused on Guenther Fielmann, who remains responsible for Sales, Marketing and Human Resources as well.
The stock added 0.2 percent on Monday to close at 72.15 euros on a volume of 35,548 shares.
To receive FREE breaking news email alerts for Fielmann AG and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org