SHW AG: Chairman of the Supervisory Board Anton Schneider to step down at end of the year - Georg Wolf proposed as his successor
27.11.2013
DGAP-News: SHW AG / Key word(s): Change of Personnel
27.11.2013 / 17:17
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PRESS RELEASE
Chairman of the Supervisory Board Anton Schneider to step down at end of
the year - Georg Wolf proposed as his successor
Aalen, 27 November 2013. Today, Chairman of the Supervisory Board of SHW AG
Anton Schneider announced that he will step down from his position as
Supervisory Board member and Chairman effective 31 December 2013.
His decision takes place against the background of the placement all SHW
shares owned by Nordwind Capital on the capital market in early November.
Mr Schneider has been a member of the Supervisory Board of SHW AG since the
takeover by Nordwind Capital in October 2005.
The Management Board and Supervisory Board have expressed their regret at
his decision and sincerely thank Mr Schneider for his outstanding service
and strong commitment over the past few years. Mr Schneider played a key
role in the development of SHW AG to one of the leading automotive
suppliers of CO2-relevant pumps and engine components as well as brake
discs. During his tenure as Chairman of the Supervisory Board, the decision
was taken to float SHW AG on the stock market, which successfully occurred
on 7 July 2011 despite a very difficult market environment.
It is intended to file a request for judicial completion of the company's
Supervisory Board pursuant to Section 104 para. (1) and (2) of the German
Stock Corporation Act. Both the Management Board and the Supervisory Board
have resolved to propose Mr Georg Wolf, most recently Chairman of the Board
of Directors at ixetic GmbH (now Magna Powertrain GmbH) as candidate for
the Supervisory Board. Further, the Supervisory Board has also decided that
in the event of Mr Wolf being appointed to the Supervisory Board, he would
be elected as chairman.
About SHW
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. These are 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
Contact person
Michael Schickling
Head of Investor Relations & Corporate Communications
SHW AG
Telephone: +49 (0) 7361 502 462
Email: michael.schickling@shw.de
Future-oriented statements
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.
Note
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.
End of Corporate News
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27.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: SHW AG
Wilhelmstrasse 67
73433 Aalen-Wasseralfingen
Germany
Phone: +49 7361 502-1
Fax: +49 7361 502-674
E-mail: ir@shw.de
Internet: www.shw.de
ISIN: DE000A1JBPV9
WKN: A1JBPV
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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242013 27.11.2013
