Sascha Rosengart appointed new CFO of SHW AG
Aalen, 7 May 2013. The Supervisory Board of SHW AG has appointed Mr Sascha Rosengart as its new CFO effective 6 May. Most recently, Mr Rosengart was CFO and member of the management board of the Hengst Automotive Group. There, he had been responsible for the Legal, Finance, Controlling and Internal Controls areas since 2010. Previously, Mr Rosengart, who holds an MBA and is a Certified Public Accountant (CPA), had been Divisional Financial Director and Deputy CFO - Europe for a US automobile industry supplier. The Company and the Supervisory Board welcome Mr Rosengart on board and look forward to a good and successful collaboration.
Mr Oliver Albrecht, CFO of SHW AG from 28 February 2011 until 6 May 2013 is leaving the Company by best mutual consent. This was agreed upon by the Supervisory Board and Mr Albrecht.
The Company thanks Mr Albrecht for his excellent work over the past years and wish him success in the future and all the best for him personally.
The enterprise was established in 1365, making it one of the oldest industrial enterprises in Germany. Today, SHW AG is a leading automotive supplier with products that contribute substantially to a reduction of fuel consumption and consequently CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger cars and truck and off-highway applications, e.g. trucks, agricultural and construction vehicles, stationary motors and wind power stations. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and lightweight brake discs made from a combination of an iron friction ring and an aluminium pot. Customers of the SHW Group include leading European and North American automobile manufacturers, manufacturers of commercial, construction and agricultural vehicles and other automotive suppliers. The SHW Group currently has four manufacturing sites in Germany, located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck. With slightly more than 1,000 employees, the SHW Group generated sales from continuing operations in 2012 of EUR 325 million. Further information is available at: www.shw.de
Head of Investor Relations & Corporate Communications
Telephone: +49 (0) 7361 502 462
This press release contains certain future-oriented statements that are based upon current assumptions and forecasts made by the management of SHW AG. Various known and unknown risks, uncertainties and other factors may lead to the actual results, financial position, development or performance of the company deviating considerably from the appraisals specified here. The company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments.
This announcement does not constitute an offer to sell securities in the United States of America, Canada, Australia, Japan or any other jurisdictional territory where offers are subject to statutory restrictions. The securities named in this announcement may only be sold or offered for sale in the United States of America following their prior registration in accordance with the provisions of the version of the US Securities Act of 1933 currently in force (the 'Securities Act') or, without prior registration, only on the basis of an exemption. Unless provided for by certain exceptions within the Securities Act, the securities named within this announcement may not be sold or offered for sale in Australia, Canada or Japan, nor may they be sold or offered for sale to or for account of residents of Australia, Canada or Japan. No registration of the offer or sale of the securities named in this announcement will take place, as stipulated by the relevant statutory provisions in Canada, Australia and Japan. There is no public solicitation to buy securities in the United States of America.