LONDON, July 29, 2024 (GLOBE NEWSWIRE) — Cherry SE held its Annual General Meeting in virtual form on 24 July 2024. All the resolutions proposed by the management were approved by a large majority of shareholders. The representative of Deutsche Schutzvereinigung für Wertpapierbesitz e.V. (DSW) and the representative of Schutzgemeinschaft für Kleinanleger (SdK) granted discharge to the current Management Board team, consisting of CEO Oliver Kaltner and COO Dr. Udo Streller, and presented their questionnaires.
Positive outlook for the second half of the year
The Annual General Meeting of Cherry SE was held virtually for the first time this year. The Executive Board explained the key decisions for the transformation year 2023 and the associated measures, most of which have already been finalised. These include the streamlining of the management team, the focus on strict executional excellence, effective cost management and long-term liquidity planning. Transparent capital market communication and the development of a diversified business model with three segments support the process. ‘The positive trend in profitability and the encouraging forecasts for Q3 and the full year 2024 prove that the Management Board has taken the right measures and that the restructuring measures are paying off,’ explains Marcel Stolk, Chairman of the Supervisory Board of Cherry SE.
Strategic progress through a new focus
Cherry SE is growth-orientated. The expansion of the Digital Health & Solutions division will be one of the drivers of economic success. ‘In particular, the stronger focus on the B2B area in Digital Health and Solutions will help us to become more resilient to fluctuations in consumer behaviour. In the healthcare sector, we also benefit from the regulatory framework and are a leading provider of digital hardware and software solutions. Within the Group, we remain focussed on achieving our EBITDA targets for 2024,’ comments Oliver Kaltner, CEO of Cherry SE. ‘We are confident about the further course of the current financial year.’
The voting results and Oliver Kaltner’s speech can be viewed on the website of the 2024 Annual General Meeting of Cherry SE.
Streamlining of the management team meets with a positive response
The personnel announcements met with broad approval from shareholders due to the associated simplified structures and shorter reporting and decision-making channels. The company had previously announced that Volker Christ would assume long-term responsibility for Global Finance & IT as Executive Vice President from 1 August 2024, reporting directly to the CEO, and that the Executive Board position of CFO Dr Mathias Dähn, who left the company prematurely, would not be filled. A further step in the transformation process has thus been successfully completed. The Supervisory Board also announced the appointment of semiconductor physicist Ashley Saulsbury to the Supervisory Board and the extension of Steven M. Greenberg’s mandate.
About Cherry SE
Cherry SE [ISIN: DE000A3CRRN9] is a globally operating manufacturer of high-end mechanical keyboard switches and computer input devices such as keyboards, mice, and headsets for applications in the worlds of gaming, e-sports, office and hybrid workplaces, industry, and healthcare. Since it was founded in 1953, Cherry has been synonymous with innovative, high-quality products developed specifically to meet the various needs of its customers.
Cherry has its operational headquarters in Auerbach in Germany’s Upper Palatinate region and over 400 employees in production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as in various sales offices in Auerbach (Germany), Pegnitz (Germany) Munich (Germany), Landskrona (Sweden), Paris (France), Kenosha (USA), Taipei (Taiwan), and Hong Kong (China).
More information is available online on https://www.cherryamericas.com/
Investor Relations Contact
Cherry SE
Nicole Schillinger
Investor Relations
P: Rosental 7, c/o Mindspace, 80331 Munich
T: +49 (0) 9643 2061 848
E: nicole.schillinger@cherry.de
Press Contact
Max Borges Agency
Marcus Lim
Senior Account Executive
cherry@maxborgesagency.com
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