Changes in the Rieter Board of Directors

Luc Tack und Stefaan Haspeslagh resign with immediate effect.

  14 October 2021 08:51 Thursday
Changes in the Rieter Board of Directors

The two members of the Board of Directors Luc Tack und Stefaan Haspeslagh announced on August 30, 2021, that they are resigning from the Board of Directors with immediate effect.

The Board of Directors welcomes the fact that a joint solution was found that is in the best interests of Rieter and Picanol, both of which are among the world’s leading textile machinery manufacturers.

According to Luc Tack, the Picanol Group (Belgium) will remain a shareholder of Rieter.

Violation of Privacy

While the acquisition taking place between Rieter and Saurer, two members of the Board of Directors, Luc Tack and Stefaan Haspeslagh, deliberately violated their legal declaration of allegiance to their companies, mutual obligations to protect trade secrets and the Rieter Commercial Code of Conduct. Information pertaining to the Board of Directors has been used on the basis of a business agreement in which both parties may gain competitive advantage against Rieter and violate fair business practices and corporate legislations.

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