Consumables

technotrans SE sets course for the future

Monday 25. May 2020 - technotrans SE will not pay a dividend to its shareholders this year - this was decided today by a large majority at the Annual General Meeting. Shareholders also elected Andrea Bauer as a new member of the companys Supervisory Board. The Board of Management explained technotranss future realignment and the identified potentials. For the first time, the Annual General Meeting was held completely virtually via live stream from technotranss headquarters in Sassenberg, Germany.

“2020 is an exceptional year. We have to cope with the consequences of a pandemic that poses a major challenge for all of us,” said Dirk Engel, Spokesman of the Board of Management of technotrans, at the first virtual Annual General Meeting. In view of the current political uncertainty as to whether dividend-paying companies will be allowed to make use of short-time allowances when paying dividends in the future, the majority of the Annual General Meeting approved the proposal of the Board of Management and the Supervisory Board not to pay out any dividend to shareholders this year.
The Annual General Meeting also elected Andrea Bauer to the Supervisory Board by a large majority as successor to Dieter Schäfer, who left the Supervisory Board as a shareholder representative for personal reasons. Mrs Bauer is a tax consultant, auditor and Certified Public Accountant (CPA).
In addition, Michael Finger introduced himself personally to the shareholders as a new member of the Board of Management. The graduate mechanical engineer will initially take over sales responsibility for the so-called new markets within the Group. Mr. Finger was most recently active internationally in various management positions, including at Hella, TT Electronics and Winkelmann Automotive.
“With these personnel decisions, we are very well positioned in the management committees for the tasks to come at Group level,” says Heinz Harling, Chairman of the Supervisory Board.
The Management Board presented the new mission statement “Shaping the future through development” at the Annual General Meeting. This stands for the future realignment of the Group. It represents a change process geared to 2025 based on the three core aspects of industry focus, innovation and agility.
Despite the difficult economic environment in connection with the COVID-19 pandemic, the technotrans Group continues to stand on a financially solid foundation. This includes good liquidity for the foreseeable future. “We are facing up to the challenging conditions – not least with this first virtual Annual General Meeting – and are looking to the future with optimism,” said Engel.