Ad Hoc Announcement | 2010-08-31
Jena, August 31, 2010 – On August 20, 2010, Intershop Communications AG (ISIN: DE000A0EPUH1) received a request from GSI Commerce Solutions, Inc., the largest individual shareholder, to convene an extraordinary general meeting with the only point on the agenda to be voting out the two members of the Supervisory Board, Bernhard Wöbker and Peter Georg von der Howen. As a reaction to this request, the Chairman of the Supervisory Board, Mr. Bernhard Wöbker, and a further member of the Supervisory Board, Peter Georg Baron von der Howen, resigned today effective as of September 30, 2010.
GSI Commerce’s reason for placing the request was that Mr. Wöbker and Mr. von der Howen did not support the strategic measures necessary to realize the largest possible sales for the company. Mr. Wöbker and Mr. von der Howen stepped down to avoid another extraordinary general meeting that would mean six-digit costs for Intershop. The request to convene an extraordinary general meeting has since been rescinded.
Shareholders had elected Mr. Wöbker and Mr. von der Howen to the Supervisory Board at the company’s extraordinary general meeting on March 29, 2010. The Management Board would like to thank Mr. Wöbker and Mr. von der Howen for the constructive collaboration over the past few months.
Heide Rausch
Phone: +49 3641 50-1000
Fax: +49 3641 50-1309
E-mail: ir@intershop.de
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is a leading provider of comprehensive state-of-the-art e-commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services including comprehensive online marketing consulting and a transaction platform for order-, supplier-, product- and channel management from its daughter companies SoQuero and TheBakery. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing, including fulfillment. Around the globe more than 500 enterprise customers, including HP, BMW, Deutsche Telekom, and Mexx run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, and Australia.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.
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