Dividend - Board of DirectorsNo dividend to be paid - new members of the Board of Directors
In view of the unfavorable results for the year and the uncertain political and economic environment, the Board of Directors will propose to the Annual General Meeting of Shareholders on April 9, 2003, that no dividend be paid out for financial 2002. The HUBER+SUHNER Group hopes to resume dividend payments as soon as possible, however, since the measures taken to boost earnings have already created a sound basis for a return to profit. The Board will also propose to the Annual General Meeting of Shareholders that two new members be elected to the Board of Directors, as Vice Chairman Hans Dieter Seghezzi has now reached the statutory retirement age and Werner Kummer is stepping down for personal reasons. Their proposed successors are Klaus Jenny, an independent consultant, and Urs Fischer, former CEO of Ascom.
