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GfK Completes Move to European SE Status
GfK's holding company GfK AG has become a European public limited company, and will now trade as GfK SE. The firm says the change will better reflect its international perspective and structure.
'AG' (Aktiengesellschaft) is a German term that describes a corporation that is owned by shareholders and may be traded on a stock market. By transferring to SE (Societas Europaea) status, Gfk will become a European company with its own legislative framework.
As around 81% of GfK's staff work abroad, and more than three quarters of the group's revenue is generated outside Germany, the firm says its corporate culture is already seen as 'international'. The move from AG to SE was passed by 99.9% of both the Management and Supervisory Boards.
As part of the change, Employee Council members of the SE Supervisory Board will now come not only from Germany, but from other EU member states and states which are members of the European economic area.
Around 25 delegates from the individual countries will meet in the spring to form the SE Employee Council and to elect three employee representatives to the nine-strong Supervisory Board. Until then, Britain's Shani Orchard (GfK Retail and Technology UK), Stephan Lindeman (Intomart GfK) from the Netherlands, and Germany's Dieter Wilbois (GfK AG) will represent the interests of GfK SE staff on the Board.
The German Employee Council will continue to exist, as will all the other Employee Councils within the GfK Group.
The plan to change status was first announced in March last year.
Web site: www.gfk.com .
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