Unifiedpost, a Belgian company specializing in electronic invoicing processes, has faced poor performance in recent years according to Marc Coucke, the largest shareholder in Unifiedpost through his holding company Alychlo. Coucke is calling for change and demanding the resignation of two directors.
Alychlo stated that Unifiedpost has consistently failed to meet expectations and goals, falling behind both the sector and comparable companies. The share price has dropped over 80 percent since the IPO in September 2020, prompting Alychlo to seek more influence as a 17.02 percent shareholder. Alychlo plans to allow shareholders to vote on May 21 on the removal of two current directors, including the chairman, and the appointment of four new directors.
The appointment and remuneration committee of Unifiedpost must now provide an opinion on Alychlo’s proposals, after which the board of directors will inform shareholders of their stance on the matter. Changes in leadership are imminent as Unifiedpost navigates through this challenging period.
As a result of these developments, it appears that Unifiedpost will undergo significant changes in its leadership structure in order to regain market confidence and improve its financial performance. This turnaround effort could shape the future direction of the company for years to come as stakeholders weigh in on its potential for success.