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Chairman steps down after Balda special meeting

By: EUROPEAN PLASTICS NEWS

September 12, 2013

Michael Naschke has stepped down from the role of chairman at German injection molder Balda AG following a special meeting of company shareholders, held Sept. 4.

A local court in Germany had appointed an independent lawyer to chair Balda's meeting, following Balda's disagreements with shareholder Elector GmbH.

Earlier this year, Bad Oeynhausen-based Balda had accused Elector of trying to change the company's strategic orientation by organizing a general meeting in Berlin. Elector had arranged the meeting to appoint three new members to Balda's supervisory board.

During the Sept. 4 meeting, three new members of the board were appointed; Frauke Vogler, Thomas van Aubel and Klaus Rueth.

The company spokesperson did not respond when contacted by European Plastics News.