DGAP-News: Advanced Inflight Alliance AG / Key word(s): Change of
Personnel/Change of Personnel
Advanced Inflight Alliance AG: Changes in the Management Board and
Supervisory Board and a new major shareholder
11.08.2011 / 07:54
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Munich, August 11th, 2011 - Advanced Inflight Alliance AG (ISIN
DE0001262186, WKN 126218, domiciled at: Schellingstrasse 35, 80799 Munich)
announced yesterday in an ad-hoc release that there have been changes in
both its Management Board and its Supervisory Board. The CEO of Advanced
Inflight Alliance AG, Dr. Rüdiger Berndt, has yesterday in an amicable
decision reached with the supervisory board resigned from office effective
immediately. The service agreement between Dr. Berndt and the company was
simultaneously amicably terminated. The supervisory board yeserday has
appointed Louis Bélanger-Martin as CEO to succeed Dr. Berndt effective
immediately. Mr. Bélanger-Martin, co-founder and CEO of DTI Software Inc.,
Montréal, Canada has been a member of the management board of the company
since October 2010 and has until now been responsible for the operational
side of the business.
Dr. Berndt has been instrumental since 2001 in supporting the Company's
development into the global market leader in inflight entertainment. In
March 2010, he resigned his seat as Chairman of the Company's Supervisory
Board to become its Management Board Chairman/CEO. The Company has posted
record earnings under his leadership, both in the 2010 financial year and
in the first quarter of 2011. Moreover, Dr. Berndt strengthened the
Company's market leadership through the simultaneous acquisition of the two
leading independent content providers for Inflight Entertainment in Asia
and the U.S.
Dr. Rüdiger Berndt: 'The acquisition of Entertainment in Motion and
Emphasis Video Entertainment successfully continued the Company's
buy-and-build strategy. The AIA Group now covers the entire value chain.
This is the best time for me to hand off the position of CEO to Mr. Louis
Bélanger-Martin, our specialist for inflight entertainment operations. I am
proud to be able to hand over an outstandingly positioned Company, and I am
confident that it will further strengthen its leading position in the years
to come. I thank all staff members and colleagues - especially the members
of the Supervisory Board - for their excellent work and collaboration
during my ten years of service to the Company.'
The Chairman of the Supervisory Board, Dr. Ingo Krocke: 'I thank Dr.
Rüdiger Berndt on behalf of the Company for his many years of highly
successful service to it and wish him all the best for his future
responsibilities.'
Mr. Bélanger-Martin will now assume the position of the Company's Chairman
of the Management Board/CEO in an orderly succession process and continue
to implement its strategy jointly with its Chief Financial Officer, Mr.
Wolfgang Brand.
The Company's new CEO, Mr. Louis Bélanger-Martin: 'We will continue to
strengthen our position as the market leader in our industry and, at the
same time, expand into other niche markets such as trains, hotels and
hospitals. As the new CEO, I look forward to my ongoing collaboration with
the most experienced and innovative people in our industry in order to
continue enhance our entertainment services and thus the Company.'
Furthermore yesterday the two supervisory board members Dr. Ingo Krocke
(Chairman of the supervisory board) and Arne Christes have today resigned
from office effective immediately. As such the supervisory board, which is
required to be composed of three members, is no longer capable of passing
any resolutions. The management board of the company will make a prompt
application to the local court of Munich pursuant to section 104 AktG for
the court appointment of two new members of the supervisory board.
The departure of the current members of the supervisory board Dr. Ingo
Krocke und Arne Christes is in connection with a material reduction in the
participation of one of the company's major shareholders. Auctus
sechsundzwanzigste Beteiligungsgesellschaft mbH, Munich, Germany, and PAR
Investment Partners, L.P., Boston, USA, informed the company that they have
agreed on the sale of 1,740,000 shares (10.5 per cent of the voting rights)
in the company to PAR Investment Partners L.P.
PAR Investment Partners, L.P. has informed the company that it has entered
into further agreements that entitle PAR Investment Partners, L.P. to
acquire further shares (and thus voting rights) in the company totalling in
excess of 29 per cent, however, according to PAR Investment Partners, L.P.
not exceeding 29.99 per cent.
Advanced Inflight Alliance AG welcomes its new major shareholder, PAR
Investment Partners, L.P.
Advanced Inflight Alliance AG
The Management Board
End of Corporate News
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11.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Advanced Inflight Alliance AG
Schellingstr. 35
80799 München
Germany
Phone: +49 (0)89 613805-0
Fax: +49 (0)89 613805-55
E-mail: info@aialliance.com
Internet: www.advanced-inflight-alliance.com
ISIN: DE0001262186
WKN: 126218
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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135264 11.08.2011
DGAP-News: Advanced Inflight Alliance AG: Changes in the Management Board and Supervisory Board and a new major shareholder
| Source: EQS Group AG