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VIA optronics AG Announces Annual General Meeting

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VIA optronics AG (NYSE: VIAO) (“VIA” or the “Company”), a leading supplier of interactive display systems and solutions, today announced that the Company’s 2021 annual general meeting (the “AGM”) is planned to take place on December 29, 2021. As a result of the ongoing COVID-19 pandemic, VIA will hold its AGM virtually to ensure the health and safety of all parties. All information for shareholders will be published on the investor relations section of VIA’s website at https://investors.via-optronics.com/investors.

VIA also announced that two of the Company’s supervisory board (the “Supervisory Board”) members, Jerome Tan and Diosdado Banatao will resign effective as of the date of the AGM. The Supervisory Board has conducted a criteria-based search and recruitment process to find candidates with skills and experience that complement existing Supervisory Board members and further support the Company’s strategy. The Company plans to nominate Arthur Tan from the Philippines and Shuji Aruga from Japan as Supervisory Board members.

Mr. Jürgen Eichner, VIA’s Chief Executive Officer said, “We are pleased to propose the nomination of Arthur and Shuji, who we are confident will further strengthen our Supervisory Board.” Dr. Heiko Frank, Chairman of VIA’s Supervisory Board added, “Arthur and Shuji bring significant business experience and strong track records in the technology sector. This is a pivotal time for the Company, as we embark on the next stage of the implementation of our growth strategy. Arthur and Shuji’s deep international and highly relevant industry experience combined with strong leadership qualities will complement our current Supervisory Board nicely. We also extend our thanks to departing members Jerome and Diosdado for their many contributions over the years.”

Arthur R. Tan has served as the Vice Chairman of the Board of Integrated Micro-Electronics, Inc. since 2016 and concurrently as Chief Executive Officer and Group President since 2001. He is also the Chairman of the Board and Chief Executive Officer of PSi Technologies Inc. and Merlin Solar Technologies, Inc.; President and Chief Executive Officer of Speedy-Tech Electronics Ltd.; Chairman of the Board of Surface Technology International (STI), Ltd., Chairman of the Advisory Board of MT Technologies GmbH; Chairman and Chief Executive Officer of AC Motors and Senior Managing Director of the Ayala Corporation. He is also an Independent Board Member of Lyceum of the Philippines University, FEU Institute of Technology and SSI Group. He graduated with B.S. in Electronic Communications Engineering degree from Mapua Institute of Technology and attended post graduate programs at the University of Idaho, Singapore Institute of Management, IMD and Harvard Business School.

Mr. Shuji Aruga is senior advisor of Deloitte Tohmatsu Financial Advisory LLC and an independent member of the Board of Directors of Matsumoto Yamaga FC. Previously, he served in numerous senior positions at Japan Display Inc. (“JDI”), which is the Japanese display technology joint venture formed by the merger of liquid crystal display businesses of Sony, Toshiba, and Hitachi. These positions included Chief Business Officer, Board Member, President and Chief Operating Officer, and Senior Advisor. Prior to joining JDI, Mr. Aruga served as the Division Senior General Manager of Sony Co. VP and Mobile Display Business Division, was the President and Chief Executive Officer of Epson Imaging Device Co., Chief Operating Officer and Board Member at Liquid Crystal Display, a department of Seiko Epson Co. He graduated with a Master’s degree in 1983 from the Tokyo University of Agriculture and Technology in Tokyo, Japan.

In accordance with German corporate reporting requirements, the Company today made a formal German statutory filing, which includes the Company’s annual financial statements, as published in the Company’s Form 20-F filed on April 29, 2021, and a required management statement on the Company’s expectations for the full year 2021. Accordingly, VIA today announced that it expects its EBITDA for the full year 2021 to be in the range of €(2) to €(4) million, due largely to the impact of continuing investments made to prepare for future growth, including, among other things, strengthening the R&D and corporate functions, and the impact of global component shortages and shipping and supply chain related challenges. VIA believes that overall gross margin in 2021 will remain broadly similar to that of 2020. These projections reflect VIA’s expectations regarding revenue development in the fourth quarter as announced in the Company’s earnings press release on November 17, 2021. While VIA is working to mitigate the impact of global component shortages as well as constrained global shipping and supply chain related challenges, which influence demand for VIA’s products, the Company’s projections will depend significantly on these external factors.

“We plan to continue executing on our strategy with a goal of moving towards our €500 million annual revenue target within five years under the assumption that current market constraints will be resolved,” said Jürgen Eichner, VIA’s Chief Executive Officer.

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