Heads of Stada resign following unsuccessful takeover

Matthias Wiedenfels, CEO of the Germany's Stada, within which the Vrsac-based company Hemofarm has been operating since 2006, and the company's Chief Financial Officer, Helmut Kraft, resigned from their positions on June 4, Bloomberg reports.

Wiedenfels will be immediately replaced by Engelbert Coster Tjeenk Willink, former CEO of Boehringer Ingelheim, whereas Bernhard Duttman, former CFO of Lanxess AG, is to be the new CFO of Stada, says the decision of the Stada Supervisory Board.

The resignation of the company's leaders comes at a time when investment funds Bain Capital and Cinven are considering submitting new bids for the takeover of Stada's shares, after their initial bid, worth EUR 5.3 billion, failed to be approved by the shareholders last week.

More precisely, the shareholders of Stada didn't accept the share takeover bid of the consortium of the two investment funds before the expiration of the negotiation deadline.

STADA Grupa

Hemofarm a.d. Vršac

Stada

Matthias Wiedenfels

Helmut Kraft

Engelbert Coster Tjeenk Willink

Bernhard Düttmann

Boehringer Ingelheim

Lanxess AG

Bain Capital

Cinven