Schneider Electric Investment AG acquired additional 8.9% stake in RIB Software SE (XTRA:RIB) from Tom Wolf and Michael Sauer and their wives for approximately 220 million on June 10, 2021. Tom Wolf and Michael Sauer, Chief Executive Officer and Chief Financial Officer of RIB Software SE, and their wives today have their remaining shares of 8.4% and 0.5% respectively. The shares were sold at an offer per share of 47. In full alignment with Schneider Electric, Tom Wolf and Michael Sauer intend to resign as Chief Executive Officer and Chief Financial Officer, respectively, in the first six months of 2022 when a succession plan is ready to be implemented to ensure a smooth handover process to their successors. They will continue to actively support the Company going forward and will remain members of the Administrative Board of the Company until the end of their term in 2025, Tom Wolf retaining his position as Chairman of the Board.
Schneider Electric Investment AG completed the acquisition of additional 8.9% stake in RIB Software SE (XTRA:RIB) from Tom Wolf and Michael Sauer and their wives on June 10, 2021.