28 augustus 2020
Klaus Röhrig is stepping down as chairman of Afga-Gevaert. The Frenchman Frank Aranzana replaces him.
Röhrig indicated to the board of directors this week that he wants to step down from the chairmanship of the imaging company Agfa because he is increasingly concerned about his lack of physical presence at the company’s headquarters in Mortsel. Due to the serious travel restrictions due to the corona crisis, which he believes will continue for many months, he thinks it better to offer his resignation.
Röhrig was increasingly concerned about his lack of physical presence at the headquarters in Mortsel.
42-year-old Röhrig has been Chairman of Agfa since May 2019 and has been on the Board of Directors since 2018. He is the main shareholder from the company. In March, through his investment fund AOC Technology, he bought 6.94 million euros worth of shares and thus built up a 14.6 percent stake.
AOC – Active Ownership Capital in full – is an activist investment fund that tries to implement operational and strategic changes in companies in which it invests in order to create added value for shareholders.
Under the impetus of AOC, Agfa sold a large part of its medical IT branch to the Italian Dedalus, a deal for 975 million euros.
Agfa’s board of directors accepted Röhrig’s resignation and appointed Frenchman Frank Aranzana, who has been a director of Agfa since May last year, as its new chairman.
Aranzana (1958) holds a bachelor’s degree in Economics and Political Science from the IEP in Paris, a bachelor’s degree in Law from the University of Nice and a master’s degree in Management from ESSEC in Paris.
He started his career in 1986 at Dow Chemical, where he worked in sales, marketing and business management. In 1996 he became business director at DuPont Dow Elastomers. In 1999 he moved to UCB, where he held a variety of positions.
In 2013, he was appointed CEO of Allnex, the coating resins producer acquired by Advent International Private Equity, and was a partner at Advent from 2016 to early 2020 and served on Allnex’s advisory committee.
Aranzana has lived in Belgium with his wife and children since 1999.