On Friday next week, the showdown will take place at the Annual General Meeting of the Berlin-based fiber-optic network operator Tele Columbus (annual revenue 495 million euros). The major shareholder United Internet, which holds almost 30 percent of the shares, calls for a new start on the supervisory board and proposed six new controllers at the end of May – including two managers of United Internet subsidiaries, Claus Beck and Hüseyin Dogan. Tele Columbus had previously nominated only three new supervisory board members, including Swisscom manager Heinz Herren and Carola Wahl (Axa Switzerland).
Tele Columbus criticizes conflict of interest among UI candidates
Supervisory Board Chairman André Krause, CFO of the Swiss telecom company Sunrise, is to be re-elected – just like Christian Boekhorst (Nachel Capital) and media manager Catherine Mühlemann. Following the intervention of United Internet, Tele Columbus last week has offered to expand that body from six to nine members. The company is holding on to its own personnel tableau, but wants to give the major shareholder the opportunity “to present three of its own candidates for the Supervisory Board“. However, two of them would have a “conflict of interest due to their positions in United Internet Group companies. This contradicts the recommendations of the German Corporate Governance Code as well as the block vote of its six proposed candidates demanded by United Internet.”