Changes In The Rieter Board Of Directors

WINTERTHUR, Switzerland — August 30, 2021 — The two members of the board of directors at Rieter — Luc Tack and Stefaan Haspeslagh — announced on August 30, 2021, that they are resigning from the board with immediate effect.

Rieter will inform the law enforcement authorities that there is no interest in continuing the criminal proceedings any further.

The board of directors welcomes the fact that a joint solution was found that is in the best interests of Rieter and Picanol, both of which are among the world’s leading textile machinery manufacturers.

According to Luc Tack, the Picanol Group (Belgium) will remain a shareholder of Rieter.

Posted August 30, 2021

Source: Rieter Holding Ltd.