Dornbirn, Austria – The Zumtobel Group announces that a settlement has been reached in today's hearing at the Feldkirch Regional Court in the lawsuit with former CEO Ulrich Schumacher.
The Zumtobel Group will pay Dr Schumacher EUR 1.5 million gross, which is approximately one third of the requested EUR 4.4 million. The majority of this amount is attributable to remuneration claims from previous financial years and has already been accrued.
The Supervisory Board will decide on the approval and effectiveness of this settlement next Friday.
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