Ströer SE & Co. KGaA (SOTDY) Tuesday said that its Co-Chief Executive Officer or CEO Christian Schmalzl has informed Supervisory Board Chairman Christoph Vilanek and his Co-CEO Udo Müller that he will not seek reappointment when his term expires in the summer of 2028. The decision is based on personal reasons related to his long-term life plans, the company added. .
The German media company said that the Chairman of the Supervisory Board and the general partner have agreed to initiate a structured search and selection process for a new member of the Management Board.
Recently, the Board of Management of the general partner of Ströer SE & Co. KGaA announced a revision to the company's outlook for the financial year 2025. The Board of Management now expects revenue, excluding acquisitions, and adjusted EBITDA for 2025 to remain flat compared to the previous year.
On the OTC Markets, SOTDY ended Friday's trading at $11.53.
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