Termination of Office by Mutual Agreement with Chairman of the Management Board Dr. Rolf Breidenbach

Rhea-AI Summary

The Shareholders' Committee of HELLA has mutually agreed to terminate CEO Dr. Rolf Breidenbach's contract effective June 30, 2022. This decision reflects a collaborative effort between the board and Dr. Breidenbach. Following his departure, he will engage in consultancy for the de facto group (Faurecia/HELLA), which is pending negotiation. This change in leadership may influence the company's strategic direction and operational focus moving forward.

Positive

• Dr. Rolf Breidenbach will continue to support the company through a consultancy agreement.

Negative

• Termination of CEO could lead to potential instability in leadership during the transition period.

• Termination of office by mutual agreement with Dr. Rolf Breidenbach (CEO) as of June 30, 2022
• Consultancy task agreed with the de facto group (Faurecia/HELLA) after termination of office

LIPPSTADT, GERMANY / ACCESSWIRE / February 4, 2022 / The Shareholders' Committee of HELLA GmbH & Co. KGaA has agreed with the Chairman of the Management Board, Dr. Rolf Breidenbach, to terminate his contract as Managing Director by mutual consent as of June 30, 2022. It was further agreed that Dr. Rolf Breidenbach will support the de facto group (Faurecia/HELLA) under a consultancy agreement which is still to be negotiated.

Contact:

Company: HELLA GmbH & Co. KGaA
Phone:+49 (0)2941 38-7125
E-mail: Investor.Relations@hella.com
www.hella.de/ir

SOURCE: HELLA GmbH & Co. KGaA

View source version on accesswire.com:
https://www.accesswire.com/687292/Termination-of-Office-by-Mutual-Agreement-with-Chairman-of-the-Management-Board-Dr-Rolf-Breidenbach

FAQ

What led to Dr. Rolf Breidenbach's termination at HELLA?

The termination was by mutual agreement between Dr. Rolf Breidenbach and the Shareholders' Committee.

What will Dr. Rolf Breidenbach's role be after leaving HELLA?

He will support the de facto group (Faurecia/HELLA) under a consultancy agreement.

When is Dr. Rolf Breidenbach's contract termination effective?

His contract is effective until June 30, 2022.

What impact does the leadership change have on HELLA stock (HLKHF)?

Leadership changes can introduce uncertainty in company direction, potentially impacting investor confidence.