Siemens Gamesa’s shareholders are to vote on delisting the company’s shares in response to a takeover bid launched by Siemens Energy.
The poll will take place at an extraordinary general meeting held on January 25 2023 in Bilbao, Spain.
During the acceptance period that ended on December 13, 2022, the cash tender offer was accepted by 77.88% of Siemens Gamesa’s minority shareholders.
The agenda for the extraordinary general meeting will include amending the by-laws of the company for the purpose of adapting them to the regulations for non-listed companies.
In addition, shareholders will vote to reduce the number of members on the board of directors from 10 to three with the aim of simplifying the current governance structure and streamlining decision-making.
Chairman Christian Bruch and chief executive Jochen Eickholt (pictured) are expected to remain on the new board along with Anton Steiger who will serve as a non-executive proprietary director.
Board members Francisco Belil, André Clark, Gloria Hernández, Harald von Heynitz, Maria Ferraro, Rudolf Krämmer and Mariel von Schumann submitted their resignations.
The resignations will take effect once the company is delisted.