Swiss Steel Group Announces Board of Directors Resignations

On March 25, 2024, Swiss Steel Holding AG disclosed that Barend Fruithof and Oliver Streuli, both board members and representatives of the primary shareholder PCS Holding AG, have resigned from the Board of Directors with immediate effect. This departure is linked to PCS Holding AG's decision, as suggested by media speculation, to opt out of the upcoming capital increase or consider a possible exit from the company.

Following these resignations, the Swiss Steel Group's Board of Directors now comprises 5 members, a count that aligns with the requirements stipulated in the Articles of Association. The group emphasized its continuing commitment to maintaining robust governance and oversight structures despite these changes.

Swiss Steel Holding AG, based in Lucerne, Switzerland, is recognized as a leading producer of special steel long products worldwide. The company prides itself on sustainable steel production, leveraging electric arc furnaces and steel scrap, positioning itself as a key player in Europe's circular economy. The company, which operates entities in over 30 countries, recorded a revenue of approximately EUR 3.2 billion in 2023 and is listed on the SIX Swiss Exchange.