Germany: the Infineon AG annual general meeting

The annual general meeting of Infineon took place yesterday (a video recording is available here). Hermes and several other shareholders failed to supplant the company's chairman-designate with their preferred candidate. The Financial Times newspaper reports:

Infineon’s rebellious shareholders received a crushing and unexpected defeat on Thursday in their attempt to oust the chairman-designate, as some investors on the losing side alleged that there might have been flaws in the voting procedures. A majority of 72.62 per cent of the shareholders voted against Willi Berchtold, the finance director of a large German car parts maker who had been proposed as chairman by a group of investors".