Amtel Drops the Vredestein Name

Amtel-Vredestein N.V. formally changed its name to Amtel N.V. at an Extraordinary General Meeting held in Enschede yesterday (2 September), freeing the newly re-merged Apollo-Vredestein from its previous associations with the Russian company. The execution of the deed of amendment through which the actual name change will take place as well as corresponding changes to the company’s website, corporate materials etc. will reportedly take place “as soon as possible.” The meeting also agreed proposals to dismiss Petr Zolotarev and Vadim Pesochinsky from the executive board and to appoint Alexander Fayn as sole member of the board. According to a statement detailing the meeting, Fayn gave a broad outline of the company’s restructuring plan.