AFX News Limited Siemens postpones AGM vote on work of former executive Feldmayer ,
Posted by Mark Frost on May 31, 2005
) website today, the reason for the postponent is ‘due to the charges brought against him’. It did not provide details. On March 28, Siemens issued a statement that the Public Prosecutors Office in Nuremburg was conducting investigations into certain Siemens employees including Feldmayer and that because of that, Feldmayer himself had requested that he be temporarily released from his duties and responsibilities.
Feldmayer was in charge of Siemens’ IT Solutions and Services unit and of its German operations. In today’s invitation to the AGM, Siemens said the agenda of the Jan 24 AGM meeting includes a proposal to ratify the actions of the other members of the the managing board individually for the fiscal year to Sept 30, 2007, instead of voting for the entire executive board, as is usually the case.
According to German corporate law, the work of the executive board and supervisory board has to be put to a vote of approval by shareholders at the AGM. ludwig.burger@thomson.com das/lb/mog/jlw COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.