Burgdorf – Yesterday, the Annual General Meeting of the Ypsomed Group has approved all proposals and has elected Gilbert Achermann as a new member of the Board of Directors and of the Compensation Committee to succeed Anton Kräuliger. Gilbert Achermann is Chairman of the Board of Directors of the Straumann Group as well as member of the Board of Directors of Vifor Pharma Ltd and Julius Baer Group Ltd.
The Annual General Meeting approved all proposals of the Board of Directors and approved the distribution of a dividend of about CHF 2.5 million.
"Ypsomed pursues a sustainable dividend policy. For the financial year 2019/20, the reported net profit of CHF 11.5 million has been adjusted by an extraordinary, non-cash effective tax income of CHF 4 million. Based on the adjusted net profit of CHF 7.5 million, we will pay out one third as dividend in accordance with our announced pay-out ratio,"
comments Simon Michel, CEO Ypsomed.
With the third Swiss corporate tax reform that came into force at the beginning of this year, only a maximum of half of the dividend can be distributed tax-exempt from reserves from capital contributions. Ypsomed adjusts the dividend structure accordingly. For the financial year 2019/20, per registered share CHF 0.10 will be paid out from reserves from capital contributions and CHF 0.10 from retained earnings.
Moreover, the compensation of the Board of Directors and the Executive Management was approved. Compensation for the financial year 2019/20 was over CHF 0.5 million lower compared to the previous year.
Mr Anton Kräuliger resigned as a member of the Board of Directors. He joined the Board in 2007 and served for many years as Vice Chairman of the Board of Directors and member of the Compensation Committee. During this time, he accompanied strong growth and the focus on proprietary products. The Annual General Meeting elected Mr Gilbert Achermann as a new member of the Board of Directors and of the Compensation Committee. Mr Achermann is Chairman of the Board of Directors of the Straumann Group, the global market leader in dental implantology, and member of the Board of Directors of Vifor Pharma Ltd. and Julius Baer Group Ltd.
"With his many years of international experience, Gilbert Achermann will enrich our growth strategy and contribute to achieve our ambitious goals. At the same time, I would like to thank Anton Kräuliger for his engagement for our company. With his profound industry knowledge, he has always challenged and helped us to move forward,"
comments Simon Michel, CEO Ypsomed, on the change on the Board of Directors.
In accordance with the requirements of the COVID regulations of the Swiss Federal Council, shareholders were not allowed to attend the Annual General Meeting in person this year. They had the opportunity to have their voting rights exercised through the independent proxy.