Partners Group to propose unchanged dividend for 2008 as Wuffli joins board
Partners Group, the Switzerland-based global alternative asset manager, has announced that its board of directors will propose a dividend of CHF4.25 per share for the financial year 2008 to the annual general meeting of shareholders on 30 April 2009.
They will thereby pay out the same absolute amount to shareholders as in the previous financial year. This corresponds to a dividend yield of 5.7 per cent at the closing price as of 5 February 2009.
According to the best practice code for corporate governance and its interpretation by market participants such as the Ethos Foundation, a member of the board with tenure of over ten years no longer qualifies as independent.
Robert Schenker, who has been a member of the board of directors since 1998, will therefore resign from his post at the forthcoming annual general meeting of shareholders.
Alfred Gantner, executive chairman, says: 'During the past decade, Robert Schenker has accompanied Partners Group from its beginnings through to the IPO and since, offering the firm the benefits of his long-term experience in the banking field.
'As chairman of the risk and audit committee, he was instrumental in the continued expansion and strengthening of the internal control systems, the risk management and the risk reporting. The board of directors of Partners Group Holding would like to take this opportunity to thank Robert Schenker for his valuable contribution to the firm.'
The board of directors will propose Peter Wuffli (pictured) to replace Schenker at the next annual general meeting.
Wuffli began his career at McKinsey in 1984 and joined Swiss Bank Corporation (now UBS) in 1994 as its group chief financial officer. He held various roles at the UBS group executive board, most recently as chief executive up to 2007.
'I am excited about this new activity in the financial sector, and I am grateful to Partners Group for offering me the opportunity to contribute to this entrepreneurial success story in the future,' Wuffli says.
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