• Management provides detailed report on financial year 2023 and current company performance
  • Shareholders approve all agenda items and formally approve the acts of the members of the Management Board and Supervisory Board by large majority
  • Supervisory Board becomes more international and expands to five members; Colin Bond, Dr Bodo Coldewey and Nicholas Haggar elected as new members of the Supervisory Board
  • Supervisory Board elects Wolfgang Essler as new Chairman

Planegg-Martinsried, Germany – Formycon AG (FSE: FYB, “Formycon”) held its Annual General Meeting on 12 June 2024 as an in-person event in Munich. In its presentation, the Management Board provided shareholders with a detailed report on the company’s development and answered all questions in the general debate. Dr Olaf Stiller, long-standing Chairman of the Supervisory Board, chaired the Annual General Meeting for the last time and was bid farewell with great appreciation for his successful collaboration.

The represented shareholders followed the proposals of the Management Board and Supervisory Board and approved all of the Executive Board’s proposed resolution resolutions with large majorities. Both the members of the Management Board and the Supervisory Board were given a formal approval of their actions with majorities of over 96 per cent in each case.

In order to reflect a more international focus and expanded industry and financial expertise on the Supervisory Board in future, new and independent members were elected to the Supervisory Board along with the decision to increase the size of the Supervisory Board from four to five members. Dr Bodo Coldewey, Managing Director of WEGA Invest GmbH, the Wendeln family office, and Nicholas Haggar, currently CEO of healthqube Ltd. and a long-standing executive at major pharmaceutical companies, were elected as new members of the Supervisory Board by large majorities. Dr Olaf Stiller and his deputy Peter Wendeln resigned from the Supervisory Board as planned with effect from the end of the Annual General Meeting. Colin Bond, currently still CFO of Sandoz Group AG, was also elected to the expanded Supervisory Board by a large majority with effect from 1 October 2024. The Supervisory Board was constituted immediately after the Annual General Meeting and elected Wolfgang Essler as the new Chairman and Nicholas Haggar as Deputy Chairman.

Wolfgang Essler, chief representative of the main shareholder ATHOS KG and new Chairman of the Supervisory Board of Formycon AG, commented: “I am very honoured to have been elected Chairman of the Supervisory Board and by the trust placed in me. I would first like to welcome Bodo, Colin and Nick as new members of the Supervisory Board of Formycon AG and look forward to continuing the good and constructive cooperation with my colleagues on the Supervisory Board and the Formycon Management Board. The global market for biosimilars will see strong growth in the coming years and Formycon is excellently positioned to play a decisive role in shaping this development. On behalf of the entire organisation, special thanks go to Dr Olaf Stiller and Peter Wendeln, who have been instrumental in shaping Formycon’s very successful development with great dedication and expertise in their many years as members of the Supervisory Board and in leading roles.”

Votes were cast for 62.16 percent of the share capital. The detailed voting results and further information on the 2024 Annual General Meeting can be found at the Formycon Homepage under Annual General Meeting 2024.