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Wabererʼs board proposes new chairman

The board of Hungarian road haulage firm Wabererʼs International has proposed Gerard van Kesteren, an independent member who was CFO of Kuehne + Nagel for 15 years, to chair the body, a disclosure posted on the website of the Budapest Stock Exchange (BÉT) shows.   

Van Kesteren would replace Robert Knorr, a representative of Wabererʼs Internationalʼs biggest shareholder, who is stepping down as chairman but remaining a member of the board.   

Van Kesteren said he would work closely with the other board members and management "to deliver further on our goals, which remain unchanged since the IPO - strategically, commercially and financially."

"I am also committed to maintain an active dialogue with investors and for the Board to do all it can to address the gap between the current share price and our assessment of the fair value of Wabererʼs," he added.  

Wabererʼs shares started trading on the bourse on July 6, 2017. The share price topped out at HUF 5,199 on that day. It closed on Friday at HUF 3,600.