Metall Zug AG Announces Heinz M. Buhofer and Peter Terwiesch Will Not Stand for Re-Election to the Board of Directors
December 06, 2021 at 05:30 am
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The current members of the Board of Directors, Heinz M. Buhofer and Peter Terwiesch, will not stand for re-election at the Annual General Meeting of Metall Zug AG on April 29, 2022. He was Chairman of the Board from 2013 to 2019 and CEO of Metall Zug AG from 2002 to 2008. Since he joined the Board of Directors, the Metall Zug share price has multiplied, and shareholders have also been allocated shares of Zug Estates Holding AG and V-ZUG Holding AG. He has reached retirement age and will therefore not stand for re-election at the Annual General Meeting of Metall Zug AG on April 29, 2022. In addition to Heinz M. Buhofer, Peter Terwiesch (55) will also not be standing for re-election to the Board of Directors. Peter Terwiesch, President Process Automation Business Area and member of the Executive Committee of ABB, was first elected to the Board of Directors of Metall Zug AG in 2010. He will be proposed as a new member of the Board of Directors of the Hilti Group in 2022.
Metall Zug AG is a Switzerland-based holding company engaged in the industrial sector. The Company is organized, along with its subsidiaries, into four business segments: Household Appliances, Infection Control, Wire Processing and Medical Devices. The Household Appliances segment develops, produces and distributes appliances for kitchen and laundry, as well as for the hotel industry. The Infection Control segment provides equipment for medical institutions, pharmaceutical institutions and laboratories. The Wire Processing segment provides wire processing equipment. The Medical Devices segment develops, produces and distributes products and services for diagnosis and surgery. The Companyâs subsidiaries include V-ZAG AG, Gehrig Group AG, Belimed AG, Schleuniger Holding AG and Haag Streit Holding AG, among others.