At Vossloh AG's annual general meeting today in Düsseldorf, the shareholders approved all of the management's proposals. In total, around 65% of the share capital of Vossloh AG was represented. In accordance with the management's proposals, the shareholder meeting decided to carry forward the net profit from 2016 to new account and to exonerate the members of the Executive and Supervisory Boards who were in office during the reporting year.
Dr.-Ing. Volker Kefer, the former vice chairman of the Executive Board of Deutsche Bahn AG, was elected to the Supervisory Board as the successor of Mr. Heinz Hermann Thiele, who resigned from his position as announced at the end of the general meeting for personal reasons. The Executive Board of Vossloh AG thanks Mr. Thiele for his highly successful work on the Supervisory Board, valuable support of the company in the past four years and excellent, trustworthy collaboration. At the meeting of the Supervisory Board following the general meeting, Dr. Kefer was appointed chairman of the Supervisory Board. “Dr. Kefer is a proven expert on the railway industry and therefore an excellent candidate for the Supervisory Board at Vossloh,” said Heinz Hermann Thiele. Dr. Volker Kefer stated, “I am looking forward to my new assignment at one of the leading global companies in rail infrastructure. Vossloh is a dynamic company with excellent future prospects.”
Vossloh AG's general meeting also agreed to create new authorized capital. This capital framework will significantly increase the company's financial flexibility with a view to further implementing the growth strategy.
Andreas Busemann, who has been Executive Board chairman of Vossloh AG since April 1, 2017, gave the shareholders a review of the success of the reorientation in the last few years and a glimpse into the digital trends in the railway industry. “Customers are asking for cost-effective solutions to further improve safety, operating quality and the availability of existing infrastructure,” said Busemann. “As a technological leader and a rail infrastructure provider operating worldwide, it is our aspiration and our goal to actively promote the development of rail transport from our customers’ point of view and in their interests.”
The complete speeches by Executive Board Chairman Andreas Busemann and Chief Financial Officer Oliver Schuster as well as the presentation materials and general meeting voting results are available here
Werdohl, May 24, 2017
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Vossloh is a global player in rail technology markets. Our core business is rail infrastructure. In addition, the Group is also active in the locomotive business. The activities of the Group are divided into the four divisions Core Components, Customized Modules, Lifecycle Solutions and Transportation. In financial year 2016, Vossloh generated sales of about €930 million with more than 4,000 employees.