WINTERTHUR, Switzerland -- Sulzer shareholders earlier this month reelected Board of Directors Chairman Peter Löscher and other board members to serve for an additional one-year term.
More than 400 shareholders gathered for the company's annual general meeting.
"In 2016, we laid the foundations for Sulzer to reach profitable growth this year. Sulzer had to contend with a difficult market environment in 2016," Löscher said in a release. "However, under these circumstances, we performed well against our competitors. We were able to partially offset the decline in business with acquisitions and further accelerate the Sulzer Full Potential program, thereby mitigating the negative impact on our operating profitability."
Shareholders also approved the Sulzer Annual report 2016, as well as financial statements and the appropriation of net profits.
Peter Löscher was reelected as member and Chairman of the Board of Directors for a one-year term. Matthias Bichsel, Thomas Glanzmann, Axel C. Heitmann, Jill Lee, Mikhail Lifshitz, Marco Musetti, and Gerhard Roiss were reelected as members of the Board of Directors for another one-year term of office.
The shareholders reelected Thomas Glanzmann, Jill Lee, and Marco Musetti as members of the Nomination and Remuneration Committee, all for a one-year term of office.
After the Annual General Meeting, the Board of Directors elected Matthias Bichsel as its Vice Chairman.