The major shareholder of the wallpaper manufacturer AS Création in Gummersbach has surprisingly announced that he will resign from his position as Chairman of the Supervisory Board “for health reasons”. Franz Jürgen Schneider (75) is leaving the Supervisory Board after the Annual General Meeting on 9 May, the company announced this week. The Supervisory Board would therefore ‘immediately begin the search for suitable candidates […]’. Schneider has headed the six-member committee since 2001, with Jungheinrich Chief Financial Officer Volker Hues and Jella Benner-Heinacher from the German Association for the Protection of Securities Holdings (DSW) among the other members.
760 employees, 143 million euros turnover
AS Création recently generated annual sales of 143 million euros with around 760 employees, but by 2017 had slipped deep into the red. Franz Jürgen Schneider took over the company in 1990 as part of a management buyout together with the holding company 3i and took it public as CEO in 1998. He currently holds around 35 percent of the shares and just under 24 percent are in free float.