GLPG to change name to Lakefront Biotherapeutics; Board changes
GALAPAGOS NV held its Annual and Extraordinary Shareholders' Meetings, approving a significant company name change to "Lakefront Biotherapeutics" effective May 8, 2026. Shareholders also approved the 2025 annual accounts, remuneration report, and granted release from liability to the Board and auditor. The meetings saw the appointment or re-appointment of seven directors, including an executive, a non-executive, and five independent non-executive directors. Additionally, the statutory auditor, BDO Bedrijfsrevisoren BV, was re-appointed with specified remuneration for both audit and CSRD sustainability reporting assurance. Key corporate actions approved include a share buyback authorization for up to 10% of shares and the renewal of authorized capital allowing for an increase of up to 20% of the share capital over five years. A new remuneration policy for non-executive directors was also approved.
Key Highlights
- Company name to change to "Lakefront Biotherapeutics" effective May 8, 2026.
- Shareholders approved the 2025 non-consolidated annual accounts and remuneration report.
- Henry Gosebruch appointed executive director for an additional four-year term (unremunerated).
- Dr. Jane Griffiths, Ms. Dawn Svoronos, Dr. Neil Johnston, Dr. Paulo Fontoura, and Mr. Gino Santini appointed/confirmed as independent non-executive directors.
- Mr. Devang Bhuva appointed non-executive director for a three-year term (unremunerated).
- BDO Bedrijfsrevisoren BV re-appointed statutory auditor for three years with an annual remuneration of EUR 495,000.
- BDO Bedrijfsrevisoren BV also appointed for CSRD sustainability reporting assurance for EUR 50,000 annually.
- Authorized share buyback of up to 10% of shares, within a price range of +/- 15% of the closing price.
- Renewed authorization for the Board to increase share capital by up to 20% over five years.
- Approved new non-executive director remuneration, including cash (e.g., Chairperson EUR 110,000) and equity-based components (EUR 135,000 for most).