Bad Vilbel, August 15, 2016 – Today STADA Arzneimittel AG and its long-serving chairman of the management board Hartmut Retzlaff agreed on terminating their service relationship due to personal circumstances. Hartmut Retzlaff has resigned from his office as member of the management board, which he had laid down since June 5, 2016, with effect as of August 15, 2016. Hartmut Retzlaff will be released from his duty to perform services under his board member service agreement until the agreed termination of the service agreement on December 31, 2016.
“We would like to thank Hartmut Retsful leader at STADA. We also thank him for setting a clear course,” explained Dr. Martin Abend, Chairman of the Supervisory Board of STADA Arzneimittel AG.
In accordance with Number 4.2.3 Deutscher Corporate Governance Kodex, the German corporate governance code, the payments agreed between STADA and Hartmut Retzlaff on the premature termination of his contract, comprising of a severance payment and the continued payment of his salary until the end of contract on 31 December 2016, do not exceed the severance pay cap of two years‘ compensation.
Additional information for analysts:
STADA Arzneimittel AG / Investor Relations / Stadastraße 2–18 / 61118 Bad Vilbel – Germany /
Tel.: +49 (0) 6101 603-113 / Fax: +49 (0) 6101 603-215 / E-mail: [email protected]
Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastraße 2–18 / 61118 Bad Vilbel – Germany /
Tel.: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-mail: [email protected]