Pfleiderer CEO Reportedly Offered To Resign

Neumarkt, Germany, March 7, 2011 -- Pfleiderer Chief Executive Officer Hans Overdiek reportedly offered to resign, newspaper Euro am Sonntag said.

The company, parent of laminate company Pergo, has been going through a restructuring.

The offer was not accepted, the newspaper said. The only option to save the company is a debt write-off by creditors, Euro am Sonntag said, citing unidentified sources in the banking industry.

In December, all of the company's lending banks agreed to the suspension of the contractual amortization until March 31. They also agreed not to exercise any right to terminate their credit lines due until then.