SoftwareOne Founding Shareholders Propose Board Reset, Support New Independent Member

On April 3, 2024, the founding shareholders of SoftwareOne, consisting of Daniel von Stockar, B. Curti Holding AG, and René Gilli, reiterated their stance for a significant overhaul at the board level of SoftwareOne Holding AG. They collectively hold a 29% stake in the company. The shareholders proposed the removal of all current board members, except for Daniel von Stockar, during the upcoming Extraordinary General Meeting (EGM/AGM) scheduled for April 18, 2024.

In light of their proposal, the founders announced their support for Till Streichert, nominated by the current board as a new independent member. This announcement follows after independent candidate Annabella Bassler, initially nominated by the founding shareholders, withdrew her candidacy. In addition, the founders have nominated Till Spillmann to serve on the Nomination & Compensation Committee.

The founding shareholders have countered recent misinformation by confirming the independence of their nominees, Jörg Riboni, Andrea Sieber, and Till Spillmann, from any affiliations or agreements with them. They criticized the current board's and Institutional Shareholder Services' (ISS) view, which questioned the independence of their nominees. A legal opinion by Professor Hans-Ueli Vogt supported the founders' stance, affirming that the nominees’ independence would not be compromised by their election to the board.

The shareholders argued that forming a mixed board would not resolve the ongoing conflicts affecting SoftwareOne's progress. They believe a comprehensive reset at the board level is essential for the company's development.