DUESSELDORF, Germany — The pressure was on Henkel’s CEO-designate Hans van Bylen as shareholders gathered for their last annual meeting under his predecessor, Kaspar Rorsted. Investors presented van Bylen with a litany of demands including raises in share prices and dividend payments, Bloomberg reports, and underscored that Rorsted will be a tough act to follow. “The shoes that you have presented to your successor to fill are enormously big,” Hans-Martin Buhlmann, who chairs the Association of Institutional Shareholders, said at the meeting. “I hope, Mr. van Bylen, that they fit.” Rorsted acknowledged that the goal, set last year, of €20 million in revenue will not likely be achieved, adversely affected by currency movements in emerging markets. Jella Benner-Heinacher, deputy head of DSW, Germany’s largest group of private investors, praised Rorsted for taking responsibility for the shortfall instead of passing the buck to van Bylen.
Outgoing Henkel CEO warns sales shortfall
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