IFCO Systems
FRANKFURT : IFE1

IFCO Systems

August 02, 2005 11:16 ET

Resignation of 'Directors B and C' for IFCO Systems

MUNICH, GERMANY--(CCNMatthews - Aug. 2, 2005) - The IFCO Systems N.V. (FWB:IFE1.F) extraordinary general meeting of shareholders, scheduled for August 18, 2005, shall decide upon the amendment of the articles of association, which shall abolish the one-tier management structure comprising a Board of Directors and establish a two-tier management structure comprising an executive Board of Managing Directors and a Supervisory Board as Supervisory Body.

Both Non-Executive "Directors B" Eckhard Alfred Kurt Pfeiffer and Samuel William Humphreys resigned on August 2, 2005 effective from the extraordinary general meeting of shareholders scheduled for August 18, 2005. The other Non-Executive "Director B" Christoph Alexander Schoeller as well as the Non-Executive "Directors C" Michael Robert Phillips, Philipp Eric Gusinde and Ralf Gruss resigned on the same day as members of the Board of Directors, effective upon amendment of the articles of association.

It is planned to elect Mr. Schoeller, Mr. Phillips, Mr. Gusinde and Mr. Gruss as members of the new Supervisory Board at the extraordinary general meeting of shareholders, scheduled for August 18, 2005, effective upon the amendment of the articles of association so that they furthermore fulfill the function of supervisory bodies of the company. The previous Executive "Director A" Karl Pohler remains a member of the Executive Body of the Board of Managing Directors.

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