Annual General Meeting of Bauer AG focuses on the upcoming Transition to the next Generation of Leadership

  • All proposed resolutions passed by large majorities
  • Dividend of EUR 0.10 per share resolved

Today's Annual General Meeting of Bauer Aktiengesellschaft focused on the upcoming transition to the next generation of leadership. In late April, the company announced that, after 24 years as Chairman of the Management Board of Bauer AG and 32 years at the head of the Bauer Group, Prof. Thomas Bauer planned to pass on the leadership of the company to a younger successor. The successor of the 62-year-old, an executive from outside the company, will likely be announced before the end of the year. Likewise, Dr. Klaus Reinhardt, Chairman of the Supervisory Board, announced that he would leave the Board this year. He has been a member of the Supervisory Board for 17 years and has served as Chairman since the IPO twelve years ago. Prof. Thomas Bauer would therefore like to take over as Chairman of the Supervisory Board.

His son Florian Bauer was also at the podium for the first time at the Annual General Meeting. He has been with the company since 2011 and was appointed to the Management Board of the company at the beginning of 2018. As a board member, he is in charge of digitalization, development coordination, training and corporate culture – important topics for the highly value-driven family company.

About 400 shareholders, shareholders' representatives and guests had come to the Old Welding Shop at the headquarters in Schrobenhausen, Upper Bavaria, to find out in person how business is progressing at the company. Approximately 70 percent of the company's share capital was present. The shareholders approved all agenda items put to the vote by a large majority and thus lent their support to the proposals of the company management. Among other things, they voted for a EUR 0.10 dividend per share, which is on par with the previous year.

In his presentation, Prof. Thomas Bauer reported on the current course of business and the stronger operating performance in the 2017 financial year. "In recent years, we have continued our operational turnaround and successfully completed organizationally important leadership transitions at the major companies of the Group. In my view, the change in the Management Board is taking place at a good time," says Prof. Thomas Bauer.

Source: Bauer Group

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