Neochim switches to two tier system of governance (NEUTRAL)
Source: Neochim; FFBH
On the EGM, held on 23 Nov, Neochim‘s shareholders approved changing the governance structure from one tier to two tier system consisting of Management Board and Supervisory Board. The latter would consist of five members with monthly compensation of BGN 15k for each of them. That would bring the total yearly compensation of the Supervisory Board to BGN 900k. At the same time the company has to deal with production cost pressure, due to record-high natural gas prices.