Shareholders of Georg Fischer Ltd confirm the existing transferability and voting rights restrictions

A total of 1,419 shareholders representing 40.8 percent of the share capital were present in the former iron foundry in Schaffhausen. 

The proposal of the Behr Group to increase the transferability and voting rights restrictions from five to ten percent received only 46.6 percent of the votes and was therefore rejected. The Behr Group’s second proposal – an amendment to the Articles of Association that would reduce the Board members' term of office to one year – received 65.1 percent of the votes represented at the meeting, but still fell short of the qualified majority of 66.66 percent needed for approval. The Behr Group’s proposal to limit the Board members' tenure in office to a maximum of twelve years was withdrawn by the Group and was not put to a vote. 

Martin Huber, Chairman of the Board of Directors, was pleased by the result. "The shareholders of Georg Fischer have sent a signal for the long-term development of an autonomous and independent company. The Board of Directors will systematically implement this intention in future too."

The General Meeting confirmed Gerold Bührer and Kurt E. Stirnemann as members of the Board. Jasmin Staiblin (aged 41) was elected as a new member. With a double degree in electrical engineering and physics, she started her career at the ABB Corporate Research Center and later worked in Sweden and Australia as well. The young businesswoman has headed ABB Switzerland since 2006.

Dr. Getrud Höhler (aged 70) stepped down from the Board on reaching the retirement age. The Board and the Executive Committee of Georg Fischer expressed their gratitude to Getrud Höhler for her dedication and achievements and wished her all the best for the future.

The General Meeting approved the annual report for 2010 and voted in favor of a capital reduction for the purpose of a par value repayment to shareholders of CHF 10 per share.