SoftwareOne says its board plan backed by ISS amid power struggle

ZURICH: The board of Swiss IT services provider SoftwareOne said on Monday its plan to resolve a boardroom tussle with founding shareholders over the company’s future has won the backing of proxy advisory firm Institutional Shareholder Services (ISS).

Daniel von Stockar, Rene Gilli and B. Curti Holding AG, SoftwareOne’s three founding shareholders, are seeking to vote out the board of directors to pave the way for a takeover. Together they control around 29% of the firm’s stock.