New QSC Supervisory Board
- First two employee representatives on the six-member Supervisory Board
- Annual Shareholders Meeting elects shareholder representatives
- Herbert Brenke new Supervisory Board Chairman
Cologne, May 21, 2008. Today's Annual Shareholders Meeting of Cologne-based QSC AG (attendance ratio: 56.1 percent) adopted all agenda items with overwhelming majorities. In this connection, it also elected four shareholder representatives to the Supervisory Board for a term of four years. Each of the elected shareholder representatives received more than 99 percent of the votes cast:
- John C. Baker, general partner of the U.S.-based Baker Capital private equity fund
- Herbert Brenke, independent telecommunications consultant and former chief executive officer of E-Plus
- Gerd Eickers, QSC co-founder and president of industry association VATM
- David Ruberg, chief executive officer of Netherlands-based InterXion
The two longstanding Supervisory Board members Ashley Leeds and Norbert Quinkert did not run for a new term. At the Annual Shareholders Meeting, the Management and Supervisory Boards expressed their sincere thanks to these two former board members for their extraordinary commitment and valuable contribution to QSC's development in the past.
Following the Annual Shareholders Meeting, the newly elected QSC Supervisory Board conducted its first meeting. Two employee representatives, Klaus-Theo Ernst and Jörg Mügge, now hold seats on the Supervisory Board. Since QSC now regularly employs more than 500 but less than 2,000 people following the merger of Broadnet, the company is subject to the regulations of the German One-Third Participation Act, which gives employees a one-third representation on the Supervisory Board.
At the suggestion of former Chairman John C. Baker, the Supervisory Board at its first meeting elected Herbert Brenke as its new Chairman.
The election of Mr Brenke who previously was QSC's longstanding Vice Chairman and had chaired the Annual Shareholders Meetings, reflects the fact that the majority of the Supervisory Board members are German residents. John C. Baker states: "At this point in QSC's development and especially given its new Board composition, Herbert Brenke is the most experienced person to lead the Supervisory Board as its chairman."
In his new position as Vice Chairman of the Supervisory Board, John C. Baker, who represents QSC's largest shareholder, will continue his intensive dialogue with the QSC Management Board, with whom he has been collaborating closely since his initial investment: "I look forward to continuing our association with QSC as it expands its business as the premium telecom provider in Germany."
Cologne-based QSC AG (QSC) is a nationwide telecommunications provider with its own broadband network, offering businesses of all sizes and premium residential customers a comprehensive portfolio of high-quality broadband communication options. QSC implements complete enterprise networks (VPNs), including managed services, operates voice and data services on the basis of its Next Generation Network (NGN) and provides leased lines in a wide variety of bandwidths - ranging all the way to 400 Mbit/s via microwave technology. In the Wholesale line of business, this network operator additionally supplies national and international carriers, ISPs as well as strong marketing partners in the residential customer market with unbundled DSL upstream products. QSC operates on a nearly nationwide scale, connects over 200 German cities with populations of more than 40,000 and currently employs a workforce of 770 people. QSC is listed on the TecDAX.