The Dax group is threatened with a leadership crisis.
(Photo: IMAGO/imagebroker)
Dusseldorf At the general meeting of the Dax group Brenntag next Thursday, there will be a vote for the new supervisory board. According to corporate and financial circles, an agreement between the activist fund Primestone and the management of the chemicals trader on the election is practically impossible.
The UK Fund has nominated two of its own candidates to compete against the two controllers proposed by Brenntag. With the advance, Primestone wants to increase the pressure to split up the Essen-based group via a newly composed supervisory board. Both sides have been fighting hard on this issue for months.
The decision could stir up not only Brenntag itself and plunge into a leadership crisis. Experts expect the case to have far-reaching consequences for listed companies, which have so far underestimated the appearance of activist investors. Because Primestone has a good chance of asserting itself at the Annual General Meeting, despite its small stake of two percent in Brenntag.
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