BAD VILBEL (dpa-AFX) - STADA Arzneimittel AG (STDAY.PK, STDAF.PK) said that it has completed a thorough investigation, which commenced at the end of 2016, into potential compliance violations within the business. As a result, there are no pending or expected legal disputes in relation to former members of the Management Board or employees in relation to this investigation.
Based on the results of the investigation, the Supervisory Board and the Management Board intend to recommend that the formal resignations of Matthias Wiedenfels and Helmut Kraft in the financial years ended 31 December 2016 and 2017 respectively are approved at the next Annual General Meeting on May 29, 2019.
The decision to formally approve their resignations had been postponed in the prior years' Annual General Meetings as a result of the ongoing compliance investigation at the time.
Following the conclusion of the compliance investigation, STADA and Matthias Wiedenfels resumed negotiations and reached an agreement in relation to the terms of his resignation, which had been suspended until the investigation had been concluded. An agreement had already been reached with Helmut Kraft in relation to his resignation.
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