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Schaltbau Holding AG: Schaltbau Executive Board scales down again following good progress

29.03.2019 / 14:08
The issuer is solely responsible for the content of this announcement.

Munich (Germany), 29 March 2019. The Executive Board of Schaltbau Holding AG, which currently consists of four persons, will be scaled down to three persons as of 1 April 2019. Chief Restructuring Officer Dr Martin Kleinschmitt, who has been responsible for updating and implementing the restructuring plan, will resign from the Executive Board with effect from the end of 31 March 2019, in mutual agreement with the Supervisory Board.

Therefore, as of 1 April 2019 the Executive Board will consist of Dr Albrecht Köhler (Spokesman), Thomas Dippold (Chief Financial Officer) and Volker Kregelin (Chief Officer for Mobile and Stationary Transportation Technology), a team well suited to tackle the tasks currently at hand following the good progress the Schaltbau Group has made in recent quarters.

The Supervisory Board and the remaining members of the Management Board wish to thank Dr Martin Kleinschmitt for his commitment and effective work and are pleased that he will continue to be associated with the Schaltbau Group in a consultant capacity following his resignation from the Executive Board. He will now focus on providing support for M&A projects and the upcoming refinancing of the Group.

Wolfgang Güssgen
Head of Investor Relations & Corporate Communications
Schaltbau Holding AG
Hollerithstrasse 5
81829 Munich
T +49 89 93005-209

About Schaltbau
With annual sales of around EUR 500 million and around 3,000 employees, the Schaltbau Group is an internationally leading supplier of components and systems in the field of transportation technology and the capital goods industry. The companies of the Schaltbau Group supply complete level crossing systems, train formation and signal technology, door and boarding systems for buses, trains and commercial vehicles, sanitary systems and interior fittings for railway vehicles, and high- and low-voltage components for rolling stock as well as for other applications. Its innovative products make Schaltbau a key industrial business partner, particularly in the field of transportation technology and for DC switching technology applications in fast-growing markets such as new energy, electromobility and DC industry.

This corporate news contains statements regarding future developments based on information currently available. As a result of risks and uncertainties, actual outcomes could differ from the forward-looking statements made. Schaltbau Holding AG does not intend to update these forward-looking statements.

29.03.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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