- Meeting scheduled for January 25, 2023, in Bilbao
- Number of members on the Board of Directors (Supervisory Board) planned to be reduced from 10 to three, simplifying the current governance structure and streamlining decision-making
- Richard Luijendijk appointed CEO of the onshore business effective January 1, 2023
The Board of Directors (Supervisory Board) of Siemens Gamesa today called for an Extraordinary General Meeting of Shareholders to vote on delisting the company’s shares in response to a takeover bid launched by Siemens Energy. The meeting will be held on January 25, 2023, in Bilbao.
During the acceptance period that ended on December 13, 2022, the cash tender offer was accepted by 77.88% of Siemens Gamesa’s minority shareholders.
The agenda for the Extraordinary General Meeting will include amending the by-laws of the company for the purpose of adapting them to the regulations for non-listed companies. In addition, shareholders will vote to reduce the number of members on the Board of Directors from 10 to three with the aim of simplifying the current governance structure and streamlining decision-making. Chairman Christian Bruch and CEO Jochen Eickholt will remain on the new board along with Anton Steiger who will serve as a non-executive proprietary director.
During a Board of Directors meeting held today, board members Francisco Belil, André Clark, Gloria Hernández, Harald von Heynitz, Maria Ferraro, Rudolf Krämmer and Mariel von Schumann submitted their resignations. The resignations will take effect once the company is delisted.
Siemens Gamesa has been plagued by a deteriorating balance sheet over 2022 and this moves follows the announcement made by Siemens Energy in November when it received authorization from CNMV to delist the troubled company.