Brief: Festi Commments On CEO Resignation

Festi hf

13/06/2022 07:17

June 13 (Reuters) - Festi hf  FESTI.IC :
    * SAID ON FRIDAY HAD BEGUN CONVERSATION WITH CEO ABOUT HIS
RETIREMENT ON THURSDAY, JUNE 2, 2022
    * CEO REQUESTED TO BE ALLOWED TO RESIGN INSTEAD OF BEING
LAID OFF
    * AGREEMENT WAS REACHED ON SAME DAY BETWEEN COMPANY AND THE
CEO ON
HIS RETIREMENT, AS ANNOUNCED ON STOCK EXCHANGE THAT DAY
    * BOARD STANDS BY ITS DECISION AND BASES IT ON ASSESSMENT
THAT
COMPANY IS NOW AT CROSSROADS AFTER MANY YEARS OF DEVELOPMENT AND
FORMATION
    * SAID CONNECTION BETWEEN THIS CASE AND CASE OF FORMER
CHAIRMAN OF
BOARD, RUN-UP TO HIS RESIGNATION, AND OTHER SPECULATIONS HAVE NO
BASIS IN REALITY AND ARE COMPLETELY REJECTED

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE7l1ywV
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