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Sulzer's Roost

This article was originally published in The Gray Sheet

Executive Summary

Resignation of Ueli Roost as Chairman of Sulzer Medica and of parent firm Sulzer Ltd is effective immediately. A March 26 announcement cites the failure of his proposed reintegration of the two entities last year following shareholder resistance. Succeeding Roost at Sulzer Medica is Max Link, current Sulzer Medica vice-chairman. Link formerly served as CEO of Corange Ltd. and Sandoz Pharma. Leonardo Vannotti will serve as the new chairman of Sulzer Ltd. The firm will seek to prevent election of board members nominated by shareholder InCentive Capital AG at its April 19 annual general meeting to prevent furtherance of an unwelcome takeover attempt. A spin-off of Sulzer Medica is anticipated in the third quarter
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