Barbara Borra, New Independent Director at Fluidra

Rhea-AI Summary

Fluidra has appointed Barbara Borra as a new independent director, succeeding Martín Ariel Atlas. This change increases the number of independent directors from 4 to 5 out of 12. Borra's appointment follows Rhône Capital's decrease in shareholding from 15% to 11.5%, resulting in a reduced presence of Rhône Capital on the board. Borra brings over 35 years of management experience, including her role as President and CEO at Franke Group, and has held senior positions at Whirlpool, Rhodia, and General Electric.

Positive

• Appointment of Barbara Borra strengthens board independence.
• Increased independent directors can enhance governance and decision-making.

Negative

• Rhône Capital's shareholding has dropped to 11.5%, reducing its influence on the board.

• She replaces Martín Ariel Atlas, nominee director representing Rhône Capital. Rhône Capital is losing one seat on the Board after its shareholding dropped below 15%

• Following the appointment of Barbara Borra, the number of independent directors has risen from 4 to 5 (out of a total of 12)

BARCELONA, Spain--(BUSINESS WIRE)-- The Board of Directors of Fluidra, the global leader in equipment and connected solutions in the pool and wellness sector, has appointed Barbara Borra as a new independent director to replace Martín Ariel Atlas. This appointment will be subject to ratification at the Company’s next General Shareholders’ Meeting.

This change on the Board follows Rhône Capital’s sell down in September, decreasing its shareholding below 15% to 11.5%. This drop below 15% implies that the number of nominee directors from Rhône Capital on the Board falls from 4 to 3, in line with the Shareholders Agreement.

Since January 2019, Barbara Borra is the President and CEO of the Home Solutions Division at the Franke Group. She joins the Board of Directors of Fluidra after 35 years of international experience that has included senior management posts at Whirlpool, where she worked for 10 years, the most recent of which was Vice-President of operations in China. Previously, she held other international roles in different countries during her time at Rhodia and General Electric. Barbara Borra earned a Degree in Chemical Engineering from the Polytechnic University of Turin and a Master’s Degree in Business Administration from INSEAD.

Barbara Borra is currently a member of the Supervisory Board at Randstad, a listed Dutch company leader in HR services.

About Fluidra
Fluidra S.A. (FDR: SM), is the global leader in equipment and connected solutions in the pool and wellness sector. It is currently listed on the Ibex 35, Spain’s benchmark stock market index and on the FTSE4Good Index Series, a benchmark index in terms of sustainability. Fluidra can be highlighted for its wide range of innovative products and services, all of which are available in the 45-plus countries in which it operates. The company owns a portfolio of some of the industry’s most well-known and trusted brands, including Jandy®, AstralPool®, Polaris®, Cepex®, Zodiac®, CTX Professional® and Gre®.
To learn more about Fluidra, visit www.fluidra.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20211230005179/en/

Press contacts:

Sarah Estébanez, sestebanez@tinkle.es, +34 636 62 80 41

Xana Pena, xpena@tinkle.es, +34 674 73 47 82

Laura Gil, lgil@tinkle.es, +34 673 631 814

Carlos Jaramillo, cjaramillo@tinkle.es , +34 664 11 18 01

Source: Fluidra

FAQ

Who is the new independent director appointed by Fluidra (FLDAY)?

Barbara Borra has been appointed as the new independent director of Fluidra.

What is the significance of Rhône Capital's shareholding drop for Fluidra (FLDAY)?

Rhône Capital's shareholding decrease to 11.5% reduces its board representation from 4 to 3 directors.

What experience does Barbara Borra bring to Fluidra (FLDAY)?

Barbara Borra has over 35 years of international management experience, including leadership roles at Franke Group and Whirlpool.

How many independent directors are on the Fluidra (FLDAY) board after the recent appointment?

After Barbara Borra's appointment, the number of independent directors on the Fluidra board has increased to 5 out of 12.

When will Barbara Borra's appointment be ratified for Fluidra (FLDAY)?

Barbara Borra's appointment will be subject to ratification at the next General Shareholders' Meeting.