Mr Franck Muller and Mr Vartan Sirmakes have the pleasure to announce that they have come to an agreement that puts an end to their dispute.

Mr Franck Muller has indeed acknowledged that the allegations he had been led to state previously against
Mr Vartan Sirmakes as well as the Management of
the Franck Muller Group were without basis and he has accordingly withdrawn them.

Mr Vartan Sirmakes reiterates the affection and esteem he has for Mr Franck Muller's watchmaking and creative qualities.

As for Mr Franck Muller, he recognizes the worth and loyalty of his partner Mr Vartan Sirmakes and thanks him for his excellent management.

Mr Vartan Sirmakes and Mr Franck Muller have agreed that the management will continue to be led by Mr Vartan Sirmakes, assisted by Mr Didier Decker,
Chief Operating Officer and by Mr Miguel Payró, Chief Financial Officer.
The Franck Muller Group will secure the services of Mr Franck Muller as a consultant.

Mr Patrick Blaser, attorney for Mr Franck Muller and Mr Charles Poncet, attorney for Mr Vartan Sirmakes, have been instructed by their respective clients to withdraw all legal procedures opposing them.

Mr Vartan Sirmakes and Mr Franck Muller, the Management of the Franck Muller Group as well as all of its employees, are delighted that this agreement was reached, which
will allow the Group to continue its considerable growth thanks to a renewed serenity.

Mr Franck Muller and Mr Vartan Sirmakes would like in particular to express their gratitude to Patrick T. Bittel, chairman of the board of directors of Franck Muller Watchland S.A.,whose integrity and commitment to the interests of the Franck Muller Group have greatly helped during the difficult months that the Group had to endure.


Source: Franck Muller Press Release

www.franckmullerusa.com
Contact : [email protected], [email protected]

(Please Credit europastar.com)