Former chairman Salina Amorini kicked off SGS board
Elisabeth Salina Amorini, the former chairman of the surveillance giant SGS (Société Générale de Surveillance), has been kicked off the board of directors at the group's annual general meeting in Geneva.
Shareholders of the world's leading inspection and testing company voted by a massive majority in a secret ballot to oust Salina Amorini, following two years of bitter boardroom in-fighting.
Salina Amorini, who had served on the multinational's board for 19 years, was forced to step down as chief executive after SGS posted poor financial results in 1998.
The group's current chairman, Max Amstutz, had called for her expulsion from the board in March following what he described as a "long and frustrating experience".
He told shareholders that the board could no longer work with Amorini and that the situation was proving "detrimental to the company".
Speaking after Thursday's meeting, Salina Amorini said: "I accept this decision with good grace after serving on the board of directors for 19 years, but there will be no farewell party."
The youngest daughter of the firm's founder, Salina Amorini launched legal proceedings against SGS at the end of last year, claiming the group had denied her access to information.
Meanwhile, Dominique Auburtin and Ferruccio Luppi, chairman and vice-chairman respectively of SGS's biggest shareholder, Worms, have been appointed to the board of directors. They are joined by Sergio Marchionne, chief executive of the Lonza Group.
The company's net profits rose by 13.3% last year to SFr128.7 million
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