CEWE settles board disagreement with former chairman, no detail given

Getting your Trinity Audio player ready...

CEWE Stiftung & Co. KGaA has settled its year-long dispute with former board member and chairman of the board of trustees Dr. Rolf Hollander.  According to a tersely worded press release from the Neumüller CEWE Color Foundation:

Differences of opinion in the committee now also formally ended

The legal proceedings pending at the Oldenburg Regional Court between the Neumüller CEWE Color Foundation and the former Chairman of the Foundation’s Board of Trustees and various current and former members of the Board of Trustees regarding the effectiveness of the controversial extension of Dr. Hollander’s term of office beyond December 31, 2022, which was resolved in November 2022, have been settled. The settlement has now also formally ended the dispute over the term of Dr. Hollander’s Board of Trustees mandate. The parties have agreed not to disclose the details of the agreements reached. The Board of Management of the Neumüller CEWE Color Foundation and the other parties involved welcome the fact that an amicable solution has been found, which makes it possible to draw a line under the dispute and bring about a peaceful settlement. In this context, the Board of Management reiterates its thanks for Dr. Hollander’s services to CEWE over the past decades.

Back in March 2023, Hollander announced he is no longer a member and Chairman of the Board of Trustees of the Neumüller CEWE COLOR Stiftung, ending a contentious upper management dispute that led to the departure of former CEO Christian Friege. The company’s announcement said Dr. Hollander’s declaration was made “to enable all those involved to return to objective and constructive cooperation.”

As previously reported, the Board of Management of the Neumüller CEWE COLOR Stiftung had determined Dr. Hollander had not achieved the majority required by the Articles of Association in the vote on his membership of the Board of Trustees at the end of November 2022. As general partner, the Neumüller CEWE COLOR Stiftung manages the listed CEWE Stiftung & Co. KGaA business.