The general assembly of OTI Greentech AG for the short fiscal year 2014 has appointed new high-calibre members to the supervisory board. Paul R. Morris and Andrew Schwager were unanimously elected as members of the supervisory body. They succeed Alexander Lattmann and Volker Vreys. Paul R. Morris has been in leading management positions with Dow Chemical for almost three decades, among others as Director New Business Development and as Director for Dow Venture Capital. He also has an extensive network in the cleantech industry. Andrew Schwager has more than 25 years of management experience in Marketing and Sales and General Management with Mars Inc. and British American Tobacco. In the past years, he was Regional Marketing and Sales Director of BAT for Western Europe and the Americas.
Stephan Rind will remain chairman of the supervisory board. He says: “I am glad we were able to win such experienced and renowned executives for our supervisory board. With their skills, they will be able to actively support the further development of our business. The composition of our management and supervisory boards now reflects the positioning of OTI Greentech as an internationally active cleantech company. A big thank you to the retired members of the supervisory board for their commitment.”
The other decisions of the general meeting reflecting more than 75 percent of the company’s share capital were also taken unanimously. Among others, new contingent capital in the amount of 4.0 million euros was created, and new authorized capital in the amount of 11.05 million euros.