FRANKFURT, April 7 – Evotec said on Tuesday it would continue a dialogue with investor MAK Capital, which has published a list of changes it wants the German biotech firm to make. * “We have maintained a constructive dialogue with MAKCapital for some time and we look forward to continuing ourengagement with them as well […]
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Evotec vows to further engage with investor MAK, who demanded change
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FRANKFURT, April 7 – Evotec said on Tuesday it would continue a dialogue with investor MAK Capital, which has published a list of changes it wants the German biotech firm to make.
* “We have maintained a constructive dialogue with MAKCapital for some time and we look forward to continuing ourengagement with them as well as with other investors,” it saidin a statement on Tuesday * Earlier on Tuesday, the biotech firm said the formerhead of Bayer’s pharmaceutical unit, Dieter Weinand, had beenproposed by its supervisory board for election as chairman. * MAK on Monday called on Hamburg-based Evotec to carve outand list its contract development and manufacturing divisionJust Evotec Biologics, among other demands in an open letter tomanagement. * MAK Capital holds around 7% of Evotec shares. * The investor also called on Evotec to acceleraterestructuring and appoint industry executive Wolfgang Hofmann tothe supervisory board. * The company’s stock is down more than 85% over the pastfive years. In early 2024, the company said that its former CEOWerner Lanthaler had for years failed to disclose share tradesin the company.
(Reporting by Tom SimsWriting by Ludwig BurgerEditing by Miranda Murray)