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Komfie Manalo, Opalesque Asia: ALTIN
AG, the Swiss listed multi-strategy fund of hedge funds, has agreed
with its largest shareholder, Alpine Select AG, on restructuring its board
to reflect the new ownership structure.
In a statement, ALTIN said that Eric Syz, will be stepping down from his
role as a director following the company’s Annual General Meeting to be
held on 9 May 2016. Peter Altorfer who joined ALTIN’s Board of Directors in
2010 and has acted as chairman since April 2011, had announced in an
earlier press release his decision not to stand for re-election.
The company added that Thomas Amstutz, a representative of Alpine Select
AG, together with Dieter Dubs and Gerhard Niggli will join the board and
are to be elected at the Annual General Meeting on 9 May. André Pabst and
Roger Rüegg, who are current Board members, will stand for re-election.
The statement added, "PricewaterhouseCoopers AG, the Company’s independent
auditor since 1996 will be replaced by KPMG AG which will be taking over
this role from 9 May onwards. The management and current directors of the
company are confident that strategic solutions can be found that will be
value accretive to both the majority and minority shareholders."
ALTIN earlier rejected Alpine Select’s proposal to recall board
members
ALTIN AG’s latest pronouncement was in direct contrast to its hardline
position ...................... To view our full article Click here
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