Aurubis Delays Board Dismissal Decision Amid Fraud Investigations

Aurubis, a leading German copper producer, has proposed deferring the resolution regarding the dismissal of its executive and supervisory board members. This development emerged in the context of the upcoming online shareholders' meeting slated for February 15, as reported by news agency DPA.

The decision to postpone the resolution stems from ongoing criminal investigations related to fraudulent activities targeting Aurubis. These incidents have led to significant shortages of precious metals, impacting the company's operations. Last year, Aurubis experienced a substantial net shortage of valuable metals, amounting to EUR 169 million, due to fraud.

The original report in Die Welt, titled "Betrug bei Aurubis: Vorerst keine Entlastung des Vorstands" (Fraud at Aurubis: No Preliminary Relief for the Executive Board), provided further details on the situation, highlighting the complexities faced by Aurubis in the wake of the fraud and the subsequent investigations.