Battle for the chairmanship of the Board of Directors has begun at the Logitech AGM
Published: Wednesday, Sep 4th 2024, 14:20
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Showdown at Logitech: The Annual General Meeting, at which the battle for the chairmanship of the Board of Directors will take place, began on Wednesday afternoon. At the center of the dispute is Wendy Becker, Chairman of the Board of Directors, whose removal from office is being demanded by company founder Daniel Borel.
Borel accuses Becker of lacking the expertise to run a technology company like Logitech. He also believes that she should have implemented cost-cutting measures earlier after the corona boom and replaced former CEO Bracken Darrell sooner.
Borel has put forward Guy Gecht, who was at the helm of the computer accessories manufacturer as interim CEO for seven months last year, as a candidate to replace Becker. However, Gecht declared that he did not want to become Chairman of the Board of Directors of the company.
Borel is also opposing the election of Group CEO Hanneke Faber to the Board of Directors. The company founder is supported in his proposals by the Ethos investment foundation and the Actares shareholders' association. Actares justifies this with the fact that the Dutchwoman performs an executive function in the company. Ethos and Actares also oppose the remuneration of the Executive Board.
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