LONDON All but
one director of Swiss stainless steel group Schmolz+Bickenbach
AG have resigned from the companys board.
Hans-Peter Zehnder, vice president Marc Feiler, Gero
Büttiker, Roland Eberle, Carl Michael Eichler,
Benoît Ludwig and Roger Schaack will all step down at the
steelmakers extraordinary general meeting Sept. 13, the
company said Aug. 2.
Manfred Breuer was the
only board director not to hand in his resignation.
The mass resignation
comes days after the steelmaker agreed to enter into talks
regarding a possible takeover by a group led by Russian
industrial investment firm Renova Group.
A spokesman for
Schmolz+Bickenbach declined to comment on whether the walkout
was related to issues surrounding the bid by subsidiary
Schmolz+Bickenbach KG and Renova.
None of the directors
due to step down was available for comment.
A version of this
article was first published in AMM sister publication Steel