Business News

Gorenje Shareholders Reject Buyback Motion, Appoint Supervisors

Velenje, 04 July (STA) - Shareholders of home appliance group Gorenje rejected a proposal for a share buyback plan and appointed a new supervisory board at Friday's general annual assembly.

The rejected buyback plan would have seen the group acquire up to 10% of its own stock in the next three years.

The shareholders also appointed a new supervisory board, which was expanded from 10 to 11 members.

The board will be made up of seven representatives of shareholders and four worker representatives, the Small Shareholder Association said.

Representing shareholders will be Bachtiar Djalil, Corinna Claudia Graf, Keith Charles Miles, Bernard Charles Pasquier, Uroš Slavinec, Toshibumi Tanimoto and Marko Voljč.

Djalil, Miles, Pasquier and Slavinec are returning to the supervisory board after holding positions in the previous term.

The assembly also took the decision to retain the EUR 1.36m in distributable profit from last year.

Gorenje generated a EUR 25m loss in 2013 on net revenue of EUR 1.24bn. The latter fell by 1.8%.

Around two-thirds of all shares were represented at today's meeting.

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