Ad hoc: Adecco successfully completes DIS transaction
Chéserex, Switzerland - 13 June 2006: The Adecco Group, the worldwide leader in Human Resource services, announced today that the motion for an injunction against Dieter Scheiff's move to Adecco has been dismissed by the Düsseldorf district court. The district court expressly stated that ".it makes sense to employ capable people from the controlled company in the dominant company, thus obtaining the best results for the overall group, but also for the controlled company".
Furthermore, the Düsseldorf district court held that the competence as to the decision on Dieter Scheiff's move from DIS to Adecco exclusively lies with the Supervisory Board, and not with the annual general meeting. DIS AG's Supervisory Board had already approved of Mr Scheiff's move to Adecco on 21 April 2006.
Last week, the DIS AG's annual general meeting had already taken important decisions as to the future development of DIS:
The revocation of the listing of the shares for official trading at the Frankfurt Stock Exchange (delisting) to avoid serious price fluctuations that do not have anything to do with the course of business, and to avoid yearly costs of approximately one million Euros
Support for the growth of the company through lowered pidends
Replacing the retired members of the Supervisory Board by distinguished personalities
"I am very pleased about the decisions taken by DIS's annual general meeting, but also about the Düsseldorf district court's ruling. Thus, Dieter Scheiff will be my successor, and Adecco will, also in Germany, be in a position to fully implement the strategy announced in January", said Klaus J. Jacobs, Adecco's CEO and Group Chairman.
Adecco S.A. is a Fortune Global 500 company and the global leader in HR services. The Adecco Group network connects over 700,000 associates with business clients each day through its network of over 33,000 employees and 6,600 offices in over 70 countries and territories around the world. Registered in Switzerland, and managed by a multinational team with expertise in markets spanning the globe, the Adecco Group delivers an unparalleled range of flexible staffing and career resources to corporate clients and qualified associates.
Adecco S.A. is registered in Switzerland (ISIN: CH001213860) and listed on the Swiss Stock Exchange with trading on virt-x (SWX/VIRT-X: ADEN), the New York Stock Exchange (NYSE: ADO) and Euronext Paris - Premier Marché (EURONEXT: ADE).
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