Fresenius Extends CEO's Contract for Five Years

   By Cecilia Butini

Fresenius SE & Co. KgaA said Tuesday that it has extended Chief Executive Stephan Sturm's contract for an additional five years.

The German healthcare company also said that Wolfgang Kirsch will stand for election to the company's supervisory board at the annual general meeting in May 2021 in order to become its chairman. Mr. Kirsch was also nominated chairman of the supervisory board of Fresenius Management SE, the company said.

Mr. Kirsch succeeds Gerd Krick in both posts, Fresenius said. Mr. Krick will be named honorary chairman of the supervisory board.

Additionally, Michael Sen was nominated for election to the supervisory boards of Fresenius Management SE and Fresenius SE & Co. KgaA at the 2021 AGM, with the goal of taking over as chairman of the audit committee, the company said.

Mr. Sen, a former member of the management board of Siemens AG, is designated to take over from Klaus-Peter Mueller as chairman of the audit committee, Fresenius said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

October 13, 2020 06:46 ET (10:46 GMT)

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