IN THE NEWS
Henkel Directors to Resign from Ecolab Board
2008-07-03 | 10:02
Three representatives to depart from dais
Ecolab Inc. announced that three directors designated by stockholder Henkel AG & Co.—Stefan Hamelmann, Kasper Rorsted and Hans Van Bylen—have decided to resign from Ecolab's board.
In a letter to Ecolab, Henkel indicated that while it intends to sell part or all of its investment in Ecolab, uncertainty regarding when or how that sale would take place made it prudent for Henkel to forgo representation on Ecolab's board at this time. Ecolab understands that Henkel does not want the information available to Ecolab directors to interfere with Henkel's process of deciding when and how to dispose of some or all of its investment in Ecolab. Henkel has indicated in its public filings that no final decision has been taken at this time as to the size, timing and method of any such divestiture which would be carried out in accordance with a stockholder's agreement between Ecolab and Henkel.
In February 2008 Henkel reported it owned 29.4% of Ecolab shares. Under terms of the stockholder's agreement with Ecolab, Henkel is permitted board representation proportional to its shareholdings.
In a letter to Ecolab, Henkel indicated that while it intends to sell part or all of its investment in Ecolab, uncertainty regarding when or how that sale would take place made it prudent for Henkel to forgo representation on Ecolab's board at this time. Ecolab understands that Henkel does not want the information available to Ecolab directors to interfere with Henkel's process of deciding when and how to dispose of some or all of its investment in Ecolab. Henkel has indicated in its public filings that no final decision has been taken at this time as to the size, timing and method of any such divestiture which would be carried out in accordance with a stockholder's agreement between Ecolab and Henkel.
In February 2008 Henkel reported it owned 29.4% of Ecolab shares. Under terms of the stockholder's agreement with Ecolab, Henkel is permitted board representation proportional to its shareholdings.





































