Hornbach Holding AG / Key word(s): Change of Personnel
11.09.2013 17:01
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Kingfisher directors withdraw from HORNBACH Supervisory Board
Neustadt an der Weinstrasse, September 11, 2013.
The directors from British retail group Kingfisher plc, London, have
resigned from the Supervisory Board of HORNBACH HOLDING AG. Kevin O'Byrne
(Kingfisher Divisional CEO, B&Q) and David Paramor (Finance and Planning
Director, Kingfisher plc) will thus retire from the supervisory body as of
September 11, 2013. Kingfisher's representative on the Supervisory Board of
the HORNBACH-Baumarkt-AG subsidiary, John Declerck (Group Strategy
Director, Kingfisher plc), will also retire from his position at the same
time.
The reason given was that this precautionary measure would avoid any
potential conflicts of interest resulting from these directors' involvement
in their companies' respective expansion strategies. Since its takeover of
15 Bricostore DIY stores in Romania in May 2013, Kingfisher has been in
direct competition with its German cooperation partner for the first time
since the strategic alliance with HORNBACH began in December 2001. As
announced by Kingfisher upon the publication of its interim results on
September 11, 2013, the British company is planning its own market launch
in Germany in summer 2014, in this case with four trial 'Screwfix' stores,
a small-scale specialist retail format aimed at professional customers.
Kingfisher holds a qualified minority shareholding of 25% plus two shares
in the voting capital of HORNBACH HOLDING AG. Moreover, Kingfisher owns
17.4% of the publicly listed preference shares in HORNBACH HOLDING AG (ISIN
DE0006083439) and 5.2% of the publicly listed ordinary shares in
HORNBACH-Baumarkt-AG (ISIN DE0006084403).
11.09.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Hornbach Holding AG
Le Quartier Hornbach 19
67433 Neustadt an der Weinstraße
Germany
Phone:
Fax:
E-mail:
Internet:
ISIN: DE0006083439
WKN: 608343
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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