At Cision AG’s extraordinary general meeting held yesterday in Stockholm it wasn’t so much what, but who.
We could guess (and did) that GTCR representatives would join the board. We just didn’t know who they would be. We now do. It was resolved at the EGM that the board of directors shall consist of five directors, with no deputy directors. Three of the five are GTCR representatives with one, Lawrence C. Fey, becoming chair.
The Cision board is now comprised of: Lawrence C. Fey, (chair) (GTCR), Mark M. Anderson (GTCR), Cedric Bradfer (Independent), Peter Lundin (Independent) and Ronan Carroll (Independent). The regulatory announcement, carried by Business Wire and run by Reuters, gives bios for each member.
All directors were elected as directors of the board for the time until the end of the next annual shareholders’ meeting. And it was resolved that no remuneration be paid for the interim period between the shareholders’ meetings.
Larry Fey and his board may not be too perturbed by this lack of immediate financial reward. The AGM is next Tuesday (27 May). They’ll have to wait, though, until item 14 of the agenda to see what rate of remuneration is passed.
Scott Guthrie works with companies to drive business growth in the social age through strategic insight and technical know-how. Read my full bio here.