LOGITECH’S co-founder Daniel Borel won a court battle to get his nominee for chairman onto the agenda of the Swiss company’s upcoming shareholder meeting, in the latest development in a tussle over leadership at the computer hardware maker.
The local court in the Swiss canton of Vaud accepted Borel’s request to add a vote on Guy Gecht to the agenda of the Sep 4 meeting, even if it ran counter to Logitech’s wishes and those of Gecht himself.
“Ultimately, it will be up to the shareholders to decide, on the day of the annual general meeting, whether they wish to give their vote to a person who, today in any case, does not aspire to the position of chairman of the board, and ultimately to Guy Gecht whether or not to accept his nomination should he be elected,” the court ruling read.
Borel has been seeking to oust chairwoman Wendy Becker, criticising her among other things for a lack of experience in the tech industry. Logitech said earlier this month Gecht, who already sits on the company’s board, is not willing to serve as chair and supports Becker.
“We are surprised by today’s ruling, particularly because it finds that a member of a board of directors can be forced to be nominated for chair, even when he or she declines that nomination and the board has unanimously backed its nominated candidate,” Logitech said in a statement. “We regret that the addition of this moot proposal will result in unnecessary confusion to shareholders.”
Borel, for his part, said he was “pleased” with the decision. “I hope that Logitech’s board will now take its responsibilities, and indicate to shareholders who, between Mr Guy Gecht and the current chair, is best suited to lead Logitech in the future,” he said in the statement. BLOOMBERG
