The Supervisory Board of Royal Imtech N.V. (IMTEF.PK) Wednesday said it has appointed Gerard van de Aast as its new Chief Executive Officer and Chairman of the Board of Management, effective immediately.
Gerard replaces René van der Bruggen who has decided to retire from the Board, effective April 3.
The company also said it intends to strengthen its equity by offering rights worth 500 million euros.
"The recent developments in Poland and Germany and the related write-downs require a tightening of the quality and effectiveness of our business controls, " said Gerard van de Aast, CEO.
The proceeds of the rights issue will be completely used for debt reduction.
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