MUNICH (dpa-AFX) - The Supervisory Board of the agricultural trader and conglomerate Baywa has expressed its unreserved confidence in the new CEO Marcus Pollinger. An investigation by an external law firm found "explicitly no misconduct on the part of the CEO or members of the Board of Management", the SDax-listed company announced in Munich on Wednesday. "There were and are also no violations of the principles of good corporate governance," it continued. For the Supervisory Board, this puts an end to the discussion. "The entire Management Board enjoys the full confidence of the Supervisory Board."

In mid-January, the then Chief Supervisor Klaus Josef Lutz resigned from office with immediate effect. The manager had led the Group for 15 years. Prior to this, the Supervisory Board had "discussed in detail the allegation of a suspected compliance violation" by CEO Marcus Pollinger and then "expressed its unreserved confidence in him". The nature of the alleged breach of the rules of good corporate governance was not disclosed then or on Wednesday./ngu/he