Logitech chair wins power struggle at AGM

Logitech International co-founder Daniel Borel's attempt to oust Wendy Becker, chair of the board of directors, has once again failed. A majority of shareholders re-elected her at the company's annual general meeting on Wednesday. +Get the most important news from Switzerland in your inbox Guy Gecht, who Borel had wanted to replace Becker, only received 14% of the votes. But Gecht removed himself from the race just before the run-off vote: "I will not accept my election if I am elected," he told the shareholders in Lausanne. Borel also lost out on another point: Group CEO Hanneke Faber was elected to the board of directors, which Borel as well as the Ethos investment foundation and the Actares shareholders' association rejected. + Switzerland remains headquarters, says Logitech CEO The election results did not go down well with investors. Logitech shares extended their losses sharply after Becker's election and were down around 5% one hour before the close of trading. Second palace ...