technotrans SE has voted not to pay a dividend this year as the company charts a course for its future.

This was decided by a large majority at the annual meeting - held virtually from its Sassenberg, Germany, headquarters - at which shareholders also elected Andrea Bauer as a new member of its supervisory board.

Board of management spokesman Dirk Engel said 2020 was an exceptional year: "We have to cope with the consequences of a pandemic that poses a major challenge for all of us.

Bauer succeeds Dieter Schäfer who left the supervisory board as a shareholder representative for personal reasons. She is a tax consultant, auditor and Certified Public Accountant.

The management board presented the new mission statement 'Shaping the future through development' representing the future realignment of the group, a change process geared to 2025 based on the three core aspects of industry focus, innovation and agility.

"We are facing up to the challenging conditions - not least with this first virtual annual meeting - and are looking to the future with optimism," said Engel.