Kok, Van Lede and Eustace to Stork board

Friday 26 January 2007

The Amsterdam Company Court has appointed Wim Kok, Cees van Lede and Dudley Eustace as its three representatives on the supervisory board of engineering group Stork. Kok, the former Dutch prime minister is on the supervisory board at Shell, ING and KLM.

Van Lede led Akzo Nobel until 2003 and Eustace is former CFO at Ahold and Philips. The three have been charged with ordering shareholders' meetings and will have a controlling vote in disputes on strategy between Stork and hedge funds Paulson and Centaurus.

Last week the court ruled that Stork was wrong to issue new preference shares in an effort to weaken the hedge funds' position. The funds are trying to split Stork up. The court also ruled that it would appoint three new supervisory board members.

© DutchNews.nl

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