- Number of employees falls below threshold for co-determined Supervisory Board following sale of sachsendruck
- Supervisory Board to be composed solely of investor representa-tives based on opinion of Management Board
Freudenstadt, November 28, 2008. Until now, the Supervisory Board of schlott gruppe AG had been composed of both shareholder and employee representatives. Following the sale of sachsendruck GmbH, the company and its German-based entities within the group currently employ fewer than 2,000 staff members, and this is expected to remain so in the future. The Act Governing One-Third Participation of Employ-ees on Supervisory Boards (Drittelbeteiligungsgesetz – DrittelbG), which governs the composition of co-determined supervisory boards, does not apply to schlott gruppe. As a result, the Management Board is of the opinion that the Supervisory Board will in future only be composed of members representing the company's shareholders.
The Management Board today published its announcement on the future composition of the Supervisory Board in the electronic Federal Gazette.
