SHW AG / Key word(s): Change of Personnel
SHW AG: Dr.-Ing. Frank Boshoff appointed as new Chief Executive Officer as of 1 July 2015
Aalen, 12 May 2015. In today's meeting, the SHW AG Supervisory Board resolved to appoint Dr.-Ing. Frank Boshoff as new member of the Management Board as of 1 July 2015. From this date, Dr. Boshoff will also serve as Chief Executive Officer.
Since 1998, Dr. Boshoff has held various management positions at KSM Castings Group GmbH, Hildesheim, with his most recent position as Chairman of the Management Board. KSM Castings Group is an international development partner and one of the largest suppliers of cast products made of light metal for the international automotive industry. The company has around 3,000 employees at eight locations in both Germany and abroad.
"KSM Castings Group has been a supplier of oil pump housings to the SHW plant in Bad Schussenried for many years. "Therefore I know the Company and its products, which will facilitate getting started in my new position", explained Dr. Frank Boshoff, designated Chief Executive Officer of SHW AG. "I consider the further acceleration of globalisation, the growth with innovative and trendsetting product solutions for CO2 reduction, and in particular the optimisation of internal processes and production flows as the focus of my new position".
Dr. Boshoff received his doctorate in mechanical engineering from the Rheinisch-Westfälische Technische Hochschule in Aachen (RWTH Aachen University).
"We are convinced that Dr. Boshoff, as a proven industry expert with international management experience and particular expertise in the areas of operational excellence, lean manufacturing and the development of international production sites, will lead the SHW Group through the challenging market environment and to capital efficient growth", SHW AG's Supervisory Board Chairman Georg Wolf gladly announced. "The task now is to consistently pursue our chosen direction".
In the same Supervisory Board meeting, SHW AG's Supervisory Board accepted the request of the current Chief Executive Officer, Dr.-Ing. Thomas Buchholz, to resign from the Company for personal reasons as of 30 June 2015. This decision was made by mutual and amicable agreement with the Supervisory Board.
"Dr. Buchholz has made an important contribution to SHW's internationalisation and its transformation into a globally positioned supplier of CO2-relevant pumps and engine components", stressed Georg Wolf. "We express our sincerest appreciation to Dr. Buchholz and wish him all the best for his professional and personal future".
Head of Investor Relations & Corporate Communications
Telephone: +49 (0) 7361 502 462
This press release contains certain future-oriented statements that are based on 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.
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