Spinning machine manufacturer Rieter and controversial board member Luc Tack and Stefaan Haspeslagh will go separate ways with immediate effect. Tack, who is also a major shareholder in Rieter, and Haspeslagh are stepping down from the board with immediate effect.
With the two board members resigning, Ritter will inform law enforcement, according to Monday’s notification, that there is no longer any interest in continuing the proceedings. The Picanol Group, of which Luc Tack is the majority shareholder, remains a shareholder of Rieter, according to the announcement “in accordance with an offer by Luc Tack”.
The group acquired Rieter’s stock package just 11.5% in March, making it the second-largest shareholder in Rieter after Stadler chairman Peter Spuhler (62), who owns 22% in Rieter.
Rieter sued two board members in mid-August alleging misuse of internal board information. At that time, Rieter had bought three districts from Saurer; Picanol made its own presentation with this knowledge. The two board members would have competed with the negotiations Ritter led.
The remaining Rieter Board of Directors welcomes “that a joint solution has been found for the interests of Rieter and Picanol, both of which are among the world’s leading textile machinery manufacturers,” the press release states. (SDA/KOH)
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”