NZZ: Changes sought in the Board of Directors
According to the Handelszeitung, the "Friends of the NZZ" shareholder group is seeking changes to the Board of Directors of the Neue Zürcher Zeitung (NZZ).
The shareholder group unites over 10 percent of the share capital. It is proposing to the Annual General Meeting on April 11 that a one-year term of office be introduced for members of the Board of Directors. To date, NZZ Board members must stand for re-election every 4 years in accordance with the Articles of Association.
According to the Handelszeitung, the NZZ Board of Directors rejects this proposal on the following grounds: The current model with the staggered four-year terms of office has the advantage "that it allows for regular renewal while maintaining consistency, which enables the Board of Directors to jointly develop a long-term view", the letter to shareholders states.
Teaser image: Friends-of-nzz.ch
