New Constantia Flexibles supervisory board approved after completion of Wendel takeover

By Staff writerRead later

Following the completion of the acquisition of Constantia Flexibles by French investment house Wendel Group, the company’s new supervisory board has been officially approved.

Frédéric Lemoine, chairman of the executive board of Wendel, has been named as the new chairman of the supervisory board, and will be joined by Roland Lienau, Patrick Tanguy, Albrecht von Alvensleben and Bernard Gautier, a member of the executive board of Wendel Group.

Previous supervisory board members Wolfgang Pfarl and Ulrich Koestlin of the H. Turnauer Foundation have been reappointed.

Further, the two independent members, Jan Homan and Mathias Hlubek, will continue as members of the new supervisory board.

Constantia Flexibles’ chief executive officer (CEO) Thomas Unger and the new supervisory board have mutually agreed that he will remain fully empowered as CEO until the end of 2015. Beyond the end of the year, Unger will pursue new opportunities outside the company.

The appointment of the new supervisory board follows the completion of the previously announced takeover of Constantia Flexibles by Wendel, described at the time, by Nicholas Mockett, head of packaging mergers and acquisitions at Moorgate Capital, as ‘the most significant deal in the flexible packaging industry since Amcor’s acquisition of the Alcan assets in 2009’.

Read about Constantia Flexibles' Labels Group and the plan for centralized management here.